Complacency and commendations for UK businesses and retail technology….
Essential Retail recently reported on complacency threatening innovation but the BRC (British Retail Consortium) has congratulated the UK retail sector on its use of technology.
Worryingly just 3% of UK firms can bring an idea to market within 6 months, says the “Eyes Wide Shut” survey based on the views of 400 leaders from the UK’s largest businesses across retail, banking, FMCG, healthcare, insurance, energy, telecoms and more . The study was carried out by strategic innovation consultancy What If. The group argue this indicates complacency in the corporate world and say that 57% of UK businesses concede their management team is failing to deliver innovation and that larger companies must respond faster to survive and grow.
From the latest BRC- Google Online Retail Monitor, retailers, particular in fashion are congratulated for levering technology to increase their global sales particularly in China and Russia and contributing to the UK being the globes second largest online retail exporter. Google’s retail director, Peter Fitzgerald, advents the importance of mobile technologies as customers world-wide shop using a variety of device media.