Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, in collaboration with Coresight Research, a leading research and advisory firm specializing in retail and technology, unveiled a global survey report titled “Store of the Future: Unlocking Performance Through Innovation.” The report provides timely, data-backed insights into how retailers are modernizing their in-store operations by focusing on unifying the shopper journey, enhancing the shopper experience, optimizing labor productivity, and maximizing store sales – the four pillars of building the “Store of the Future.”
The report defines the store of the future as a technology-enabled, data-integrated retail environment designed to elevate customer journey while driving back-end efficiency. Based on a survey of 360 retail decision-makers across North America and Europe, the findings highlight how leading retailers are turning to technology to solve core operational challenges, from ineffective store management to inventory inaccuracies – with 92% actively investing in tools to enhance in-store operations.
Sampath Saagi, Head of Diverse Industry Verticals Group (DIG), Americas, Tech Mahindra, said, “The “Store of the Future” is more than just a connected space, it’s a dynamic, data-driven environment where seamless customer experiences meet operational efficiency. This report envisions equipping retailers with actionable insights and a practical roadmap to navigate their transformation journey – helping them identify where to invest, improve store performance, and deliver greater value to customers. Through our collaboration with Coresight Research, we aim to empower the industry with data-led strategies for building smarter, future-ready stores.”
Key findings highlight an industry in transition:
- 92% of retailers are actively investing in technologies to boost in-store operations.
- 84% of respondents acknowledge persistent operational inefficiencies that affect margins and revenue.
- Enhancing shopper experience emerged as the top priority for 40% of retailers building future-ready stores.
- 57% are investing in advanced data analytics, making it the most widely adopted technology, while automated inventory tracking is seen as the most critical need.
- Retailers anticipate that technology will drive benefits, including improved product availability, greater automation, and real-time data insights.
- Automated inventory tracking is viewed as the most critical capability for future store operations.
- The top three benefits of technology adoption are greater product availability, increased automation, and access to real-time data.
The report outlines that despite widespread optimism towards technologies, challenges remain, such as high implementation costs and data security concerns, that continue to slow adoption, underscoring the need for a phased, strategic approach to digital transformation.
Deborah Weinswig, CEO and Founder of Coresight Research, said, “Building the “Store of the Future” goes beyond deploying isolated technologies; it requires a clear understanding of core operational challenges and a cohesive blueprint to solve them. Success hinges on aligning investments with both near-term performance goals and long-term scalability to create a true competitive edge.”
