Retail industry’s annual tech investment gap could top £22bn, creating an innovation vacuum that risks sector health and business survival, warns the Retail Think Tank
365 Retail
OCTOBER 26, 2023
The RTT whitepaper – ‘ Change Or Fail: Why Innovation Is The Business Survival Issue Retailers Can’t Ignore ’ – suggests omnichannel retailers should be spending between 4-8% of their revenue on technology per annum. However, currently most retailers only spend between 1.5-3%, year-on-year.
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