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IDC FutureScape: Worldwide Retail 2019 Predictions

IDC FutureScape: Worldwide Retail 2019 Predictions

This IDC study explores how different drivers are collectively impacting technology in the retail industry and offers guidance on actions to consider. Retail organizations are hard pressed in the new digital era to respond to a wide range of political, economic, social, cultural, technological, legal, and experiential forces. These forces alongside ever-expanding data assets, increasing market pressures, sweeping regulations, and changes in the global populace and in consumer expectations for experiential retail call for the industry to act in innovative ways that meet rising expectations, improve outcomes, and deliver value."The 2019 worldwide retail industry predictions offer a glimpse into the future of the retail industry as it is being transformed in the new digital era," says Leslie Hand, vice president, IDC Retail Insights. "The future belongs to visionary leaders and forward-thinking organizations that are able to break the shackles of legacy systems and accelerate mastering digital-first strategies. The thrivers will be those that champion data-driven, experiential, and personalized approaches to experiential retail business and IT."

Please Note: Extended description available upon request.


IDC FutureScape Figure
Executive Summary
IDC FutureScape Predictions
Summary of External Drivers
Predictions: Impact on Technology Buyers
Prediction 1: DX Acceleration Among the "Digitally Determined" Will Result in 20% of Retail Organizations Advancing to Stage 4 of DX Maturity by 2020
Associated Drivers
IT Impact
Guidance
Prediction 2: 50% of Retailers Plan to Implement a Digital "Core" Platform by Year-End 2019, Which Will Enable Faster Innovation, Continuously Utilizing Insights to Drive Intelligent Actions
Associated Drivers
IT Impact
Guidance
Prediction 3: By 2020, Retailers Will Increase Track-and-Trace and Predictive Agile Execution Investments by 30% to Meet Consumers Expectation of Real-Time Order Visibility and Perfect Delivery Performance
Associated Drivers
IT Impact
Guidance
Prediction 4: By 2022, Retailers Will Double Investments in Distribution Automation to Meet the Dramatic Increase of Single-Item, One-Click Impulse and Auto-Replenishment eCommerce and Marketplace Orders
Associated Drivers
IT Impact
Guidance
Prediction 5: By 2021, 30% of Retailers Will Provide Real-Time Contextual Experiences Wherein Conversational Search Is Empowering, Services Find Customers, Content Supports Sales, and Consumers Monetize Their Data
Associated Drivers
IT Impact
Guidance
Prediction 6: By 2023, 25% of Retailers Will Create More Customer "Promoters" by Interweaving Customer Experience, Product and Service Development, and Assortment Orchestration to Grow 25% Faster than Their Peers
Associated Drivers
IT Impact
Guidance
Prediction 7: By 2022, Retailers Will Have Increased Investment in Workforce Technology and Training by 30% to Equip Staff for Competitive and Differentiating Customer Experience–Focused Roles
Associated Drivers
IT Impact
Guidance
Prediction 8: By 2023, 40% of Nonfood Retailers Will Have Capabilities to Profitably Mass Customize New Product Introduction, Including New "Lot Size of One" Design, Buy, Make, and Move Skills and Systems
Associated Drivers
IT Impact
Guidance
Prediction 9: By 2023, 50% of Retailers Will Have Implemented IoT in at Least Four Digital Transformation Use Cases, Also Enabling the Reallocation of Up to 3% of Operations Budget to Innovation Budget
Drivers
IT Impact
Guidance
Prediction 10: By 2020, Retailers Will Have Raised Annual Spend on Data Privacy Safeguards by 25% Given Heightened Concerns About Data Privacy and Regulatory Requirements Including the EU's GDPR
Associated Drivers
IT Impact
Guidance
Advice for Technology Buyers
External Drivers: Detail
Next Chapter of DX: Technology-Driven Transformation Altering Business and Society
The Race to Innovate: Speed of Change, Delivery, and Operations Separates Thrivers and Survivors
Platforms, Platforms, Platform: Industry Competes for Innovation at Scale
Sense, Compute, Actuate: Turning Data into Value
New Nature of Risk: Innovation Requires New Thinking in Security and Risk Management
Cyber Insecurity: Theft, Cyberattack, and Negligence Create a Crisis of Digital Trust
Rising Customer Expectations: More Convenience, Customization, and Control
Reimagining the Material World: Revolutionized Processes Expand Technology Reach
The Future of Work: Bridging the Digital Talent Gap
Legacy Inertia: Retrofit the Old into the DX World
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