| | January 20206CIOReviewBeing customer-centric has been one of the oldest traits of the retail industry. Meanwhile, the customer is often fickle-minded when it comes to tastes and preferences. E-Commerce stores are emerging with innovative ideas to draw the customer's attention at a rapid pace. Traditional brick and mortar stores are finding it difficult to keep up with the pace of developments, and need to revamp their strategies to survive, leave alone staying ahead of the competition. The rise of direct to consumer brands posed quite a threat to traditional retailers. Still, the significant losses incurred despite the increase in sales have led to these brands adopting traditional strategies, in the form of exclusive stores, to complement their products.There is a plethora of technologies out there that retailers can make use of to enhance their business, and Artificial Intelligence (AI) is one that has been ringing across all industries. Companies are looking to incorporate AI into their business activities to achieve organizational efficiency. However, it is necessary to keep in mind the end goal of driving sales and customer loyalty while implementing AI. Retailers can leverage AI in various functions like inventory forecasting, allocation, and restocking. At the same time, it is essential not to rely too much on technology for customer service purposes. Executives must keep in mind that technology should play the role of a complement to your employees' skills rather than a replacement.Digital wallets have been around for quite some time, and the search for faster and easier payment options is a never-ending one. Brands can leverage digital wallets in different ways, like loyalty programs, which can result in increased customer loyalty. Integrating Point of Sale (POS) with ApplePay, GooglePay, and Samsung Pay can open up more opportunities for retailers.On this note, we present CIO Review's Retail 2020 edition, to help retailers navigate through the rapidly transforming retail sector, and keep up with the latest trends in technology.Do let us know your thoughts!EditorialRetail: Embracing the Pace of ChangeCopyright © 2020 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewContact Us:Phone:510-230-0395Fax:510-894-8405Email:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com January - 14, 2020, Vol 09, Issue - 01 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasVisualizersIssac GeorgeBrian Harding*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin SmithSalesStephen Thomasstephen.thomas@cioreview.com Dean Winchester
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