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ARTICLE · 19 MAY 2023

Retail Viewpoint: Is Your Product Creation Process Prepared For The Future?

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Advancements in digital solutions are disrupting the product development value chain from ideation to point of sale. While this creates opportunities for new entrants, it leaves legacy retailers behind.

United StatesConsumer Protection
Filip Nemeth
Filip Nemeth
Sydney Lapeyrolerie
Sydney Lapeyrolerie
David Bassuk
David Bassuk
Courtnay East
Courtnay East
Author LinkedIn connections

Advancements in digital solutions are disrupting the product development value chain from ideation to point of sale. While this creates opportunities for new entrants, it leaves legacy retailers behind.

Retailers must shift their product-to-market processes to be more digitally enabled, better utilizing 3D tools, AI, and advanced analytics. Those that don't will fall further behind, as the old ways of operating no longer work.

Only 36% of retail CEOs think their organization has the right digital skills and capabilities, and 66% plan to increase investment in digital tools, according to our 2023 executive survey on digital transformation. To drive meaningful change, these executives need to ensure they're investing in the right tools and changing their ways of working alongside implementation.

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