In recent years, retailers have started to leverage the Metaverse to create new, innovative shopping experiences that are immersive, personalized, and convenient.

New predictions from Aruba, a Hewlett Packard Enterprise company, revealed at NRF 2023, detail how retailers will leverage technology to get ahead of evolving customer demands and operational challenges over the next 12-18 months.

Microsoft announced that Majid Al Futtaim Retail, the operator of the Carrefour retail brand in 16 countries across the Middle East, Africa, and Asia, has transformed its financial planning and analysis (FP&A) capabilities by leveraging the power of the Microsoft Azure Data Platform. The finance team at Majid Al Futtaim Retail used the Azure Analytics Platform to fully automate financial and operational reporting and create a single source of truth for decision-makers. Data silos posed a significant challenge for Majid Al Futtaim Retail.

“With the economic climate the way it is, and consumers increasingly cutting back on spending, it’s crucial that businesses think strategically about how they can continue to attract and retain customers. Our gifting solution is best in class and an innovative way to secure customer loyalty, we are excited to be bringing it to the market at such a pivotal time in the retail industry,” said Prerna Sonawane, VP MENA Partnerships at Merit Incentives.

Increasingly sophisticated ways of incorporating intelligent technology into grocery retail are driving the sector deeper into the digital transformation. This reality is not simply changing the industry but revolutionising it entirely. The fusion of digital and physical experiences is expected to accelerate further, according to Deloitte’s 2022 retail industry outlook report. The research identified retail industry leaders (respondents with aggregate scores in the top 25%) and industry laggards (those in the bottom 25%).