Latest news with #StoreoftheFuture
Web Release
5 days ago
- Business
- Web Release
Tech Mahindra and Coresight Research Release Report Highlighting Key Global Trends for Building the 'Store of the Future'
Tech Mahindra and Coresight Research Release Report Highlighting Key Global Trends for Building the 'Store of the Future' Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, in collaboration with Coresight Research, a leading research and advisory firm specializing in retail and technology, 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 modernizing their in-store operations by focusing on unifying the shopper journey, enhancing the shopper experience, optimizing labor productivity, and maximizing store sales – the four pillars of building the 'Store of the Future.' The report defines the store of the future as a technology-enabled, data-integrated retail environment designed to elevate 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: ? 92% of retailers are actively investing in technologies to boost in-store operations. ? 84% 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. ? 57% 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, underscoring the need for a phased, strategic approach to digital transformation. Deborah Weinswig, CEO and Founder of 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.' The report provides global retailers a roadmap for building scalable, secure, and future-ready retail environments – 'Store of the Future.' For more information about Tech Mahindra's retail solutions, click here
Mid East Info
6 days ago
- Business
- Mid East Info
Tech Mahindra and Coresight Research Release Report Highlighting Key Global Trends for Building the 'Store of the Future'
Pune, August 12th 2025 – Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, in collaboration with Coresight Research, a leading research and advisory firm specializing in retail and technology, 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 modernizing their in-store operations by focusing on unifying the shopper journey, enhancing the shopper experience, optimizing labor productivity, and maximizing store sales – the four pillars of building the 'Store of the Future.' The report defines the store of the future as a technology-enabled, data-integrated retail environment designed to elevate 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: 92% of retailers are actively investing in technologies to boost in-store operations. 84% 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. 57% 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, underscoring the need for a phased, strategic approach to digital transformation. Deborah Weinswig, CEO and Founder of 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.' The report provides global retailers a roadmap for building scalable, secure, and future-ready retail environments – 'Store of the Future.' For more information about Tech Mahindra's retail solutions, click here About Coresight Research Coresight Research is a research and advisory firm specializing in retail and technology. Established in 2018 by leading global retail analyst Deborah Weinswig, the firm is headquartered in New York, with offices in London, Lagos, Hong Kong, Shanghai and Mangalore (India). The firm provides data-driven analysis and strategic advisory to clients including retailers, brands, real estate owners, enterprise technology companies, accelerators and more. For more information, please visit About Tech Mahindra Tech Mahindra (NSE: TECHM) offers technology consulting and digital solutions to global enterprises across industries, enabling transformative scale at unparalleled speed. With 148,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative's Terra Carta Seal, which recognizes global companies that are actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit Our Social Media Channels For more information on Tech Mahindra, please contact: Abhilasha Gupta, Global Head – Corporate Communications & Public Affairs, Tech Mahindra Email: ;
Newsweek
24-04-2025
- Business
- Newsweek
Hundreds of Walmart Stores To Be Remodeled This Year. Here's Where
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Retail giant Walmart on Wednesday unveiled details of its planned nationwide remodeling and investment efforts this year, a multimillion-dollar project that will see over 650 stores across the U.S. and Puerto Rico get a significant upgrade. Why It Matters With thousands of stores selling anything from fresh produce to firearms, Walmart already has a massive presence in the U.S., where nearly 19 out of 20 people are estimated to visit the retailer at least twice a year, according to DemandSage. The planned remodeling of hundreds of its stores in the country would impact thousands of American customers, promising to offer them "improved layouts, expanded product selections and innovative technology" that would make shopping "more convenient and enjoyable." What To Know The Arkansas-based retailer first announced plans to remodel more than 650 of its stores in 47 states and Puerto Rico back in January, when it said it was "investing in America" with modernizing efforts, new stores, and new jobs. The company said it is planning to build or convert more than 150 stores in the next five years, while also continuing its program to remodel existing stores following the concept of the "Store of the Future." The remodeling will take place throughout 2025 and will create "tens of thousands of jobs supporting these projects," Walmart said. The initiative includes a new look for the stores, which would have "big, bold signage"; an expanded selection of products on sale on the shelves; more options for its online pickup and delivery services; wider aisles and privacy checkout areas in Walmart's pharmacies. Texas will have the highest number of remodeled stores, 67, including seven locations in San Antonio, five in Houston, and two in Dallas-Fort Worth. It will be followed by California with 56 remodeled stores, including in San Jose, Sacramento, Mountain View, Bakersfield, and Modesto. North Carolina has a total of 41 stores set to be revamped, including in Charlotte, Cary, Fayetteville, Asheville, Winston-Salem, and Durham. Thirty-four stores will be remodeled in Florida—where two new stores are set to open later this year—20 in Georgia, 11 in Illinois, 14 in Michigan, 23 each in New York and Ohio, four in New Jersey, and 26 in Pennsylvania. Here are renderings provided by Walmart of what the remodeled stores will look like. 1 of 6 Newsweek contacted Walmart for comment by email on Thursday early morning, outside of standard working hours. What People Are Saying Walmart said in a press release about the remodeling: "Customers love this concept in the places we've already rolled it out, and we're excited to transition more and more of our fleet." Nick Berkeley, Walmart senior vice president for the Southeast Business Unit, said in a statement reported by several news media: "Our stores often serve as the heartbeat of the communities we operate in, and these remodels are a testament to our dedication to enhancing that role. "By investing in our stores and associates, we are not only improving the shopping experience, but also reinforcing our commitment to being a vital part of the community's fabric, helping to build a brighter future for all." Walmart president and CEO Doug McMillon said during an earnings call in February: "The work we're doing to expand our assortment is another reason for our growth, as more customers are finding what they're looking for." What Happens Next Walmart has not provided an estimated completion date for each remodeling project, but these should all be finished by the end of the year. The company has also not detailed the cost of the remodeling, but said that it is a multimillion dollar project. McMillon was among the U.S. top retail leaders who met President Donald Trump this week to discuss the feared impact his administration's import tariffs might have on their businesses, which are threatened by rising costs that they might in turn push on to consumers. According to Reuters, a Walmart spokesperson said on Monday of the meeting: "We had a productive meeting with President Trump and his team and appreciated the opportunity to share our insights."
Yahoo
14-03-2025
- Business
- Yahoo
Did you purchase a Badger 5 ticket last week in Plover? You may have won $21,000.
PLOVER − A lottery player is $21,000 richer after purchasing a Badger 5 ticket in Plover last week. According to Wisconsin Lottery, the winning ticket was purchased at the Walmart Supercenter at 250 Crossroads Drive in Plover. The ticket was for the March 8 drawing. The winning numbers for the March 8 drawing were: 1, 4, 9, 11 and 15. According to Wisconsin Lottery, the Badger 5 drawing has players choose five different numbers from 1-31, using either a Quick Pick or by using a Badger 5 play slip. Each ticket costs $1 per play, per draw. Drawings are held after 9 p.m. daily, and tickets must be purchased before 9 p.m. to be included in that day's drawing. Tickets are needed to claim prizes. For more information, visit More about Plover Walmart: Plover Walmart is undergoing 'Store of the Future' remodel. What changes will shoppers see? Contact Caitlin at cshuda@ or follow her on Twitter @CaitlinShuda. This article originally appeared on Stevens Point Journal: Badger 5 ticket purchased last week at Plover Walmart wins $21,000
Yahoo
29-01-2025
- Business
- Yahoo
Walmart remodeling 18 Kansas stores, 3 in Wichita area
WICHITA, Kan. (KSNW) – Walmart plans to remodel and improve 18 stores in Kansas this year, including three in the Wichita area. On Wednesday, a company spokeswoman told KSN News that the stores would reflect Walmart's Store of the Future concept. The store remodels could include expanded grocery pickup and delivery, updated pharmacy, a new 'Grab & Go' section, expanded deli and produce sections, and renovated apparel sections. Walmart announces 150 stores, the first new locations in years Here is the complete list of stores that will undergo improvements in Kansas: 115 W WILLOW ST COLBY 18631 W KELLOGG DR GODDARD 2200 N STATE ST IOLA 1723 MCFARLAND ROAD JUNCTION CITY 2900 S 9TH ST SALINA 1905 N 14TH AVE DODGE CITY 2701 N SUMMIT ST ARKANSAS CITY 2111 N AMIDON AVE WICHITA 4701 MISSION RD WESTWOOD 310 HEDGE LN PAOLA 12801 KANSAS AVE BONNER SPRINGS 6110 W KELLOGG DR WICHITA 121 PETER PAN RD INDEPENDENCE 719 W 7TH AVE AUGUSTA 2022 E 16TH ST WELLINGTON 1174 PONY EXPRESS HWY MARYSVILLE 2202 PIKE RD WINFIELD 550 CONGRESSIONAL DR LAWRENCE The Bentonville, Arkansas-based chain is relying more on its physical stores to fulfill online orders and use them as online pickup locations. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
