"Only a few retailers have built true omnichannel offerings, harnessed data at scale, and implemented agile ways of working throughout their organizations. To reverse the negative trajectory of recent years, bold action is needed: retailers must undertake a radical transformation of their tech function—both its architecture and its operating model."

Excerpt from the McKinsey & Company report, “The Tech Transformation Imperative in Retail,” which was issued late last week. The report is a collaborative effort by Raphael Bick, Stéphane Bout, Fabian Frick, Marcus Keutel and Valerie Skinner, representing views from McKinsey’s Consumer & Retail Practice, according to the post.