1 minute read
THE WEEK IN RETAIL ISSUE 14
EDITOR’S COMMENT
INVEST IN TECH – OR BE LEFT BEHIND
Among its many achievements, coronavirus can probably lay claim to being the biggest accelerator of retailing technology adoption that the convenience sector has ever seen. Tech has long been on the radar for many forwardthinking retailers, but the last few months have seen the independent retailing industry hurtle headlong into embracing a whole array of newfangled tech that does all sorts of often weird and sometimes wonderful things.
A good example is the Jisp ‘Scan & Go’ app that features on this week’s cover. There’s no denying it’s a slick solution that ticks a lot of boxes: fast, convenient, cashless, contactless and very much in line with how a big chunk of today’s consumers want to shop. Gen Zs live their lives on their mobile phones. They’re used to relying on them and they can get frustrated or, worse, bored having to engage with businesses that don’t let them do what they want, how they want it, when they want it.
Tech will transform convenience retailing. The biggest stopper for many retailers has simply been not knowing what to invest in. Sitting tight and watching how the rest of the world develops has been the game plan so far, to all intents and purposes. But coronavirus has changed that – and that will ultimately turn out to be A Good Thing.
I’m not in the habit of quoting iffy retailing billionaire Philip Green, but he did say something interesting about tech in the retail space: “Good, bad or indifferent, if you are not investing in new technology, you are going to be left behind.” And, for me, he has a point. It’s a daunting prospect investing your hard-earned cash in some tech solution that might be redundant in six months, but the alternative – not investing in tech at all – is an even worse prospect. You will be left behind, as big Phil says.
You might not get it right every time. You might not even get it right the first time. But with every mistake you make you learn something, and with every learning you’ll be better placed for the next investment. Tech will revolutionise convenience retailing and all retailers will need to make sure they don’t miss that boat.
