Navigating Digital Transformation: Optimizing Retail Operations Amid Margin Pressure

What's Inside

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 report, we delve into the strategies and challenges of cost and margin management in the retail sector via the lens of digital transformation technologies. We examine the current state of the retail industry, focusing on how digital technologies such as financial planning software, workforce management tools, and artificial intelligence and machine learning applications can address the pressing issues of cost control and margin optimization. Our analysis is based on a Coresight Research survey of key decision-makers at medium-sized to enterprise retailers globally.

This report 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 research report include:

• Estimated global workforce management software market size, 2023–2027E
• Proprietary survey data on costs that retail businesses found most difficult to control and the unexpected costs they encountered over the past 12 months
• Survey data on the challenges retail companies faced when making their operations adaptive to a fast-changing environment and when managing staff in times of fluctuating demand
• Survey data on the technology solutions retail companies are using to manage their costs and margins and the effectiveness of those solutions

Other relevant research:

• Workday is featured in the Coresight Research Tech 25, our focus list of retail-technology companies to watch.
• Visit the Coresight Research Retail Technology Hub to explore reports, data and competitive landscapes on technology.
• More coverage of emerging technology
• More Innovator Research from Coresight Research

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