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Tech is a top concern for retail executives, based on data from a January 2015 survey by BDO USA. The firm polled US retail CFOs about their priorities for the coming year, and 28% said they planned to invest the most capital in IT systems and other technology purchases.
That was ahead of planned investments in ecommerce and mcommerce, both key areas for retailers as digital buying channels take up an ever-greater share of total sales.
The No. 3 area of investment was advertising and marketing.
But retailers aren’t ignoring mobile, even if many of them are planning to spend more on other IT investments. The survey also found that 68% of retail CFOs would increase spending on mobile technologies, up from 40% who said so in 2014 and 38% who did in 2013.
Cybersecurity may be one issue that’s sucking dollars into tech: Nearly nine in 10 CFOs surveyed said they had begun using new security software to keep customers safe, and 40% had hired security consultants. More than one in 10 had hired chief security officers. Widely publicized security breaches in recent years have pushed many retailers into adopting safer practices and systems.
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