Other retail segments might want to look to banks to guide their strategies to meet the needs of a post-COVID world, suggests a new report by design firm SLD in partnership with JohnRyan. The companies studied how digital technology is shaping the future of retail and bank brands. The findings support the idea that banks are farther along in addressing the needs prompted by the pandemic because they had already been grappling with some of the demands.
But both banking and the rest of retail are looking to put more control in their customer’s hands and consider technologies part of the solution. The report, Think Future: How Digital Ecosystems Will Change Retail and Banking, finds five major insights emerging.
“The built environment will need to pivot to remain relevant as the pandemic accelerated many transformational changes already underway,” the authors note. The report explores specific strategies.
The report covers:
- What level of implementation, priority, and importance that retailers and banks currently place on digital ecosystems
- How COVID-19 has influenced the need for robust digital experiences
- What main challenges retailers and banks face in creating digital ecosystems
- How to shift from a siloed channel structure to a fully integrated, seamless experience for customers
- How to align a digital ecosystem to an ideal customer journey
Download the report here.