Tech Mahindra in collaboration with Coresight Research, a leading research and advisory firm specialising in retail and technology, has unveiled a global survey report titled Store of the Future: Unlocking Performance Through Innovation.
The report provides timely, data-backed insights into how retailers are modernising their in-store operations by focusing on unifying the shopper journey, enhancing the shopper experience, optimising labour productivity and maximising store sales – the four pillars of building the store of the future.
It defines the store of the future as a technology-enabled, data-integrated retail environment designed to elevate the customer journey while driving back-end efficiency. Based on a survey of 360 retail decision-makers across North America and Europe, the findings highlight how leading retailers are turning to technology to solve core operational challenges, from ineffective store management to inventory inaccuracies – with 92% actively investing in tools to enhance in-store operations.
Sampath Saagi, Head of Diverse Industry Verticals Group (DIG), Americas, Tech Mahindra, said: “The ‘store of the future’ is more than just a connected space, it’s a dynamic, data-driven environment where seamless customer experiences meet operational efficiency. This report envisions equipping retailers with actionable insights and a practical roadmap to navigate their transformation journey – helping them identify where to invest, improve store performance and deliver greater value to customers. Through our collaboration with Coresight Research, we aim to empower the industry with data-led strategies for building smarter, future-ready stores.”
Key findings highlight an industry in transition:
- Ninety-two percent of retailers are actively investing in technologies to boost in-store operations
- Eighty-four percent of respondents acknowledge persistent operational inefficiencies that affect margins and revenue
- Enhancing shopper experience emerged as the top priority for 40% of retailers building future-ready stores
- Fifty-seven percent are investing in advanced data analytics, making it the most widely adopted technology, while automated inventory tracking is seen as the most critical need
- Retailers anticipate that technology will drive benefits including improved product availability, greater automation and real-time data insights
- Automated inventory tracking is viewed as the most critical capability for future store operations
- The top three benefits of technology adoption are greater product availability, increased automation and access to real-time data
The report outlines that despite widespread optimism towards technologies; challenges remain such as high implementation costs and data security concerns that continue to slow adoption. This underscores the need for a phased, strategic approach to Digital Transformation.
Deborah Weinswig, CEO and Founder, Coresight Research, said: “Building the ‘store of the future’ goes beyond deploying isolated technologies; it requires a clear understanding of core operational challenges and a cohesive blueprint to solve them. Success hinges on aligning investments with both near-term performance goals and long-term scalability to create a true competitive edge.”
