RILA’s (R)Tech Center for Innovation
RILA, together with Accenture, has launched the (R)Tech Center for Innovation, and an accompanying “(R)Tech” brand for the retail, innovation, and policymaking arenas. (R)Tech is a new term that describes the confluence of retail and technology. An (R)Tech company embodies the strongest values of both those industries – global and local, nimble, and entrepreneurial – to delight profoundly empowered consumers. The term is meant to accelerate retail innovation, and to invigorate retail’s reputation with innovators, the next generation of retail talent, policymakers, and the public.
The (R)Tech Center addresses the multifaceted challenges facing the retail industry today. U.S. and global consumers are driving change in retail at an unprecedented rate. Ubiquitous internet access, and changing consumer values, preferences, and lifestyles, have led to unprecedented disruption in virtually every industry; retail perhaps more than any other. This digital revolution continues to transform the way customers buy and interact with retailers and products. And the pace and depth of these changes is both unprecedented and accelerating. This new retail landscape brings with it many risks, but also many opportunities.