Becoming a retail “Mover”
Successful retailers – termed "Movers" by McKinsey & Company – take advantage of periods of peak demand and leverage new technologies to outperform competitors.
Cisco Hospitality Value Drivers
Customer stickiness
Optimizing customer engagement and personalization to enhance loyalty, creating personalized interactions that meet the customer where and when they want to interact with your brand.
Tech-enabled operations
Deploying secure and scalable solutions to handle high-demand events without compromising customer and employee experiences. This includes rewiring retail operations with AI, addressing retail-specific cybersecurity threats in Retail, and incorporating intelligent loss prevention with advanced video analytics.
Cost management
Modernizing store operations for sustainability and cost-effectiveness. Smart stores will help reduce shrinkage, improve safety, support environmental goals, and allow stores to flex with high demand environments without requiring incurring significant labor and operating costs.
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Research by McKinsey found that top-tier retail “Movers” have outperformed their peers on key financial metrics, including:
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3.6x outperformance in EBITDA
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3x lower SG&A costs
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2.2x better capital efficiency
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1.9x higher revenue growth
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Improved cost of goods sold
90%
of global retail executive believe that AI and machine learning are essential for the future of retail
73%
of emerging technology retailers are investing in analytics and AI to empower frontline employees
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