Operations | Monitoring | ITSM | DevOps | Cloud

The retail industry is going through a period of major upheaval. AI is transforming the landscape at a rapid pace. Grand View Research evaluated the market value at USD 5.79 billion in 2021 and this is expected to grow at a 23.9% compound annual growth rate (CAGR) from 2022 to 2030. For retailers, this translates into a need to adapt to an entirely new paradigm of customer expectations.

Effective inventory management is an essential aspect of running a successful retail business. Whether you own a small boutique or a large chain of stores, managing your inventory properly can help you reduce costs, increase efficiency, and maximize profits. However, inventory management can be a complex and time-consuming task that requires a significant amount of planning and attention to detail.

To hear Ehab Tarabay explain it, the need for retailers to continue evolving their digital operations is an age-old problem. I recently hosted Tarabay, head of workplace IT services at TMF Group, on our That’s Great IT podcast. As an avid information technology specialist with a track record of more than 20 years in the technology field, he had a unique perspective to share about the shift that’s happening in retail right now.

Modern retail businesses have a lot on their plates. IT infrastructure needs to work spotlessly to provide exceptional user experiences. Even the tiniest system bug can result in shopping cart abandonment and bring the workflow to a standstill. Instead of waiting hours for an IT technician to arrive and fix the problem, tech-savvy retail businesses rely on you – a remote IT support provider.

AI/ML is reinventing the reality of many industries, including retail. From brick-and-mortar stores to online marketplaces, retail companies are all increasing their investments in artificial intelligence, in order to gain a competitive advantage, better understand their customers and solve some of their long-lasting problems.

We recently featured in Ecommerce Age. If you missed the write up, you can catch up in full, here… As ecommerce continues to outdo the high street, Black Friday sales are becoming as much of a tradition as Christmas dinners. But shoppers are very influenced by external factors, from the economy to website experiences. We outline the key ecommerce challenges this Black Friday…