The consumer and retail sector is undergoing a decisive technological reset, driven by rapid advances in AI, rising expectations for digital convenience, and the pressure to modernize long‑standing legacy systems. Drawing on insights from more than 250 consumer and retail leaders, the report highlights where modernization is already delivering measurable impact: more accurate forecasting, more efficient supply chains, and increasingly automated front‑ and back‑office operations. Yet the findings also reveal the hurdles that continue to slow progress — most notably weak governance, fragmented technology stacks, and ongoing shortages of AI‑native talent.