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Summary"Key Trends in Retail IT, 2017", report summarizes the key trends affecting digital technologies in retail in 2017, and discusses the drivers that influence their adoption. Retailers are exploring innovative ways to differentiate and create value-adding in-store experiences while also looking to collect and analyze more data. Digital technologies play a key role in driving retailers’ business transformation efforts, including various Internet of Things based devices, cloud services and mobile apps. In addition, advice is provided for IT vendors and retailers.
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The retail sector is undergoing a major transformation as a result of changing market conditions that threaten the ongoing success of established players that have dominated their market segments for decades. New competition is emerging from online retailers that require fewer overheads and can offer more favorable prices and larger product portfolios than bricks and mortar stores. As margins are increasingly squeezed, retailers are looking at more innovative ways to differentiate and add value for their demanding customers by creating in-store experiences that also need to integrate seamlessly with digital channels including mobile platforms.
Scope
- Retailers increasingly compete on customer experience through mobile solutions and augmented reality in stores, while also improving efficiency by reducing any friction such as queuing at checkouts or waiting for shop assistants to look up items
- The shift from data center hardware to software-defined and cloud-based solutions will continue in 2017; however the focus is on hybrid solutions with efficient workload management, virtualization and multi-cloud environments to avoid vendor lock-ins
- Retailers look to upgrade their supply chain management systems and introduce real-time asset visibility to achieve cost savings by eliminating any unnecessary steps in distribution and keeping lower inventory levels
Reasons to buy
- Get an understanding of the key trends in retail in order to better target retailers and tailor marketing and business strategies. This report also provides an insight into retailers' strategic priorities and how these link to specific technologies.
Table of Content: Key Points
1. Introduction 3
2. Summary & Key Findings 4
3. Market Drivers 5
3.1. Advance of online and mobile platforms 6
3.2. Customer expectations 6
3.3. Eroding margins 6
3.4. Hunger for data insight 7
3.5. Diminishing loyalty 7
3.6. Expansion into new services 8
3.7. Control over supply chains 8
3.8. Security challenges 8
3.9. IT investment focus 9
4. Key Technology Trends 10
4.1. Retailers’ competitive advantage and market value will be linked to Big Data and real-time analytics capabilities 10
4.2. Major retailers will roll out Internet of Things (IoT) projects for greater operational efficiency and customer interaction, including beacons and sensors 11
4.3. Social media insight and communication will provide greater competitive advantage for innovative retailers 12
…Continued
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