Is European Retail Ready to Adopt Modern Technologies?

YASMIN DIEKMANN | July 25, 2018

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The retail landscape has gone digital, but Europe, as a whole, remains in the early stages of its digital transformation. While global online giants like Alibaba and Amazon invest billions in technological investments (e.g. virtual reality, augmented reality, artificial intelligence, machine learning, etc.) for their omnichannel shopping experience, the European market has laid in wait to monitor how the market reacts. It’s clear that the EU is ready for change, but timing is everything to them. Cautionary tales have taught companies the perils of investing too soon, and the EU has largely listened. To their credit, they have followed the customer rather than the market. That has proven considerably more valuable as companies seek sustainable success over being a technological pioneer. There is a great fear of misinvestment in European retail. Companies tend to be hesitant when investing in technological innovation, making it all the more challenging to determine whether there is concrete demand for it. That begs that all important question, when is innovation just hype versus a mature and profitable technology?

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