Today's economic climate is driving changes among consumers and organisations, with 81% of industry executives anticipating significant impacts from the cost-of-living crisis. To succeed, consumer and retail companies must adapt to evolving consumer needs and preferences using technology.
Technology aids C&R organisations by leveraging data to understand customers better, optimise operations, and deliver personalised experiences that boost loyalty and growth. Despite this, many face challenges in utilising their data effectively due to inadequate infrastructure, siloed departments, and disparate systems.
The KPMG Global Tech Report 2024 examines how consumer and retail businesses are using technology to create value amid volatility and address issues like poor data quality and capability gaps. Insights from 490 executives reveal that the sector is focusing on enhancing data capabilities and scaling AI use cases, emphasising trust and security for competitive advantage.
