SA businesses face disruption
A wave of innovation is sweeping the retail sector, both abroad and in South Africa, and Deloitte is addressing this trend with the creation of a Connected Retail experience at its Greenhouse innovation space in Cape Town.
According to Mike Vincent, Consumer Industry Leader at Deloitte, the changes will manifest themselves in shorter queues at checkout, improved shopping experience, much better selection of goods and traceability thereof, personalised and relevant special offers and the ability to have out-ofstock items delivered to customers’ doors.
“Retailers globally are being disrupted by digital, yet less than one-quarter of retailers are actively doing anything about it,” Vincent reveals.
“The changing retail landscape is driven by exponential changes in technology, innovative business models and changing customer expectations.
“This disruption is both an opportunity and a threat for retailers.
“Operating in South Africa does not mean that our industry will not be disrupted – digital disruption is already here.”
They have been working with retail clients to get the most out of digital – improving efficiencies, driving down costs and creating a better understanding of the entire value chain – from suppliers right through to customers.
“Digitalisation and the store of the future have been topics of discussion in various forums, but at Deloitte, we believe it’s now time to make the concept real for the clients in our market and link business value to practical solutions,” says Neville Hounsom, Director at Deloitte Consulting.
The offering provides emerging market retailers with the opportunity to experience real-world digital solutions and explore the opportunities presented by digital transformation.
To this end, the firm recently strengthened its South African retail team with the addition of a number of individuals with extensive expertise in the international and domestic retail sectors.
It has also established a physical retail experience at its greenhouse innovation space in Cape Town.
This immersive, interactive experience allows visitors to gain practical, tangible insights into every aspect of the Connected Retail ecosystem.