The last few years have demonstrated that retailers of all sizes and segments concur that a physical store presence is still a necessary and vital part of the retail landscape. From opening new stores, to doing more remodels, to making store operations more efficient, retailers are tirelessly working to make sure their customers’ brick and mortar experiences are top notch.
The annual “Store Experience Study” represents the 20th year of collaboration between RIS News and IHL Group. As such, it brings the retail industry the definitive study that examines trends for the coming year in terms of technological advances that impact retail operations, growth plans, budgets, and planned technology purchases for 2023 and beyond.
STORE EXPERIENCE Study 2023
By Lee Holman and Jamie Grill-Goodman
No. 1 Priority for Leaders Empowering Store Associates
54% Retailers Named Personalizing the Customer Experience as a Top Tech Priority for 2023
4% Store IT Spend Growth for 2023
4.3% Overall IT Spend Growth for 2023
26% Retailers Planning a POS Hardware Update This Year
6.9% Revenue Growth Forecast for 2023
87% Retail Transactions That Have a Store Component
While there remains hope for a return to “normal,” retail is unlikely to enter a habitual path and likely to remain a dynamic industry rapidly evolving day-to-day.
Read on to discover the state of the store and how it will advance retail’s future, as well as where retail leaders are placing big tech bets to ensure their stores thrive.
3.7% Store Remodel Growth for 2023
STORE EXPERIENCE Study