This article is part of Raydiant’s new Future of Retail series which interviews the world’s leading retail experts to better understand how the industry has evolved and most importantly, where it’s headed.
The following is from an interview with Suuchi Ramesh, CEO and Founder of Suuchi
** This interview was conducted prior to the Coronavirus outbreak**
What personally excites you the most about the retail industry?
SR: Using new-age, next-gen software to connect the entire supply chain. I think that the systems we have are too convoluted, too complex, and too heavy. Lightweight, cloud-based, mobile-first, nimble, and intuitive systems are what excite me most because they are poised to reinvent the industry.
What has been the most dramatic change you’ve seen in the industry over the past 3-5 years?
SR: Digitally connecting factories and mills. We’ve never had the apps or the software that is mobile-first to help leapfrog these communities, but that is one of the most dramatic changes. We are at a time to digitize those communities that were previously digitally-hesitant.
What are the top trends you see shaping brick and mortar retail in the next 3-5 years?
SR: Connectivity and digitization across the entire supply chain all the way through the customer experience. All systems have really been siloed, so I think we’re going to see more systems that connect entities and participants all the way from sourcing and design to production down through to the end-consumer and merchandisers in the retail stores.
What technology do you believe will have the biggest impact on the retail industry in the next 3-5?
SR: Technologies that are simple! Technologies that are mobile-first and lightweight, as well as, technologies that are application platforms. What that means is that the best systems will have open philosophies and become eco-systems for other application developers to recite.
What’s the future of brick and mortar retail?
SR: Brick and mortar retail has a future that is in conjunction with the online experience. Brick and mortar will become more experiential, so brands & retailers will design for a more personalized experience by implementing software. For example, if you have a customer visit the store, you have data and touchpoints on them that way you are tracking a unified, seamless experience whether it was in-store or online.