Weak retail conditions, high wage and rent costs, and fierce competition from emerging online players have been identified as the key factors negatively impacting the Australian clothing retail sector, according to research firm, IBISWorld. Most retailers are finding trading conditions tough and with the massive advances in automation that are coming, retail is certainly in the firing line.
Reports out of the US predict that 7.5 million retail staff could lose their job with the advent of automation. So how do you combat the rise of technology and stay competitive? This video identifies a number of strategies that retailers can out in place to combat the rise of automation.