The retail landscape is undergoing a significant transformation, driven by the unpredictable economic environment and shifting consumer preferences—given these turbulent and unprecedented times, understanding and effectively managing costs and margins has become more crucial than ever.

In this infographic, we present research highlights on the strategies and challenges of cost and margin management in the retail sector via the lens of digital transformation technologies. Discover the path to enhanced profitability in in-store retailing for North American retailers!

Our analysis is based on a Coresight Research survey of key decision-makers at medium to enterprise retailers globally.

This infographic is produced and made available to non-subscribers of Coresight Research in partnership with Workday, a leading cloud-based financial and human capital management software platform.

Data in this infographic include:

• Costs that retail businesses found most difficult to control over the past 12 months
• Challenges encountered by retail companies when making their operations adaptive to a fast-changing environment
• Current investment in technology solutions to manage costs and margins
• Areas where retailers believe that AI (artificial intelligence) will be beneficial to cost and margin management

Other relevant research:

• Read the full report from Coresight Research x Workday: Navigating Digital Transformation: Optimizing Retail Operations Amid Margin Pressure
• View the other infographics in this series, which focus on retailing in Europe and Australia/New Zealand, as well as on hospitality operations globally.
• Navigating Digital Transformation: Optimizing Hospitality Operations To Enhance Margins and Growth: Coresight Research x Workday
• Workday is a member of our updated Tech 25 focus list, covering retail-technology companies to watch.
• Visit the Coresight Research Retail Technology Hub to explore reports, data and competitive landscapes on technology.
• See all Coresight Research coverage of emerging technology
• More Innovator Research from Coresight Research