IDC FutureScape: Worldwide Retail 2023 Predictions
This IDC study provides IDC's 2023 top 10 predictions for retail.Leslie Hand, group vice president, IDC Retail and Financial Services, emphasized, "Retailers are not investing in small step changes to their portfolios — they are digitally transforming and investing in the massive scale and speed of digital, cloud-based, connected, AI-driven, and sensor-driven automation. We are in the middle of a customer-led, technology-enabled revolution in retail."
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: By 2025, 20% of the Top 100 Global Retailers Will Drive Holistic Business Results Using Distributed AI Systems with Integrated Data Across Retail Planning, Decisions, Operations, and Optimization
- Associated Drivers
- IT Impact
- Guidance
- Prediction 2: By 2025, 50% of Retailers Will Increase Data Management and Governance Technology Investments by at Least 20% to Harness Insights from Spiraling Amounts of Data to Grow Omni-Channel Revenue
- Associated Drivers
- IT Impact
- Guidance
- Prediction 3: By 2027, 10% of Retailers Will Employ Software-Defined Store Services Models to Change the Economics of Delivering Game-Changing Technology in Store
- Associated Drivers
- IT Impact
- Guidance
- Prediction 4: By 2027, 40% of Retailers Will Implement Critical Product Life-Cycle KPIs That Tie Environmental Factors to Supplier Selection at All Tiers of Supply
- Associated Drivers
- IT Impact
- Guidance
- Prediction 5: By 2024, 60% of Retailers Worldwide Will Use API Integration to Connect Owned, Third-Party, and Social Commerce Platforms and Optimize Customers' Interfaces Through Multidimensional Marketplaces
- Associated Drivers
- IT Impact
- Guidance
- Prediction 6: By 2026, Retailers Will Solve the Challenge of Matching Inventory Plans to Omni-Channel Orders, Resulting in a 15% Reduction in Split Shipments, 7% Reduction in Packaging, and 20% Increase in CX
- Associated Drivers
- IT Impact
- Guidance
- Prediction 7: By 2024, 65% of Retailers Will Invest in Visual Commerce to Enable Personalization Through 3D Product Configuration and Virtual Try-On and Reduce Complexity Through Image-Based Interfaces
- Associated Drivers
- IT Impact
- Guidance
- Prediction 8: By 2026, 40% of Retailers Will Implement End-to-End Integrated Cloud Security Solutions to Secure Data Across Omni-Channel Applications and Endpoints While Reducing the Number of Cyberattacks and Losses
- Associated Drivers
- IT Impact
- Guidance
- Prediction 9: By 2025, Over 90% of the Top 100 Global Retailers Will Build Their Own or Will Partner with a Media Vendor/Provider to Build Retail Media Networks to Leverage First-Party Data for Revenue
- Associated Drivers
- IT Impact
- Guidance
- Prediction 10: By 2023, 75% of Enterprise Retailers Will Double Deployment of Mobile Devices for Associates to Empower Employees to Improve Customer Service by Continuous Learning, Communication, and Operational Guidance
- Associated Drivers
- IT Impact
- Guidance
- Advice for Technology Buyers
- External Drivers: Detail
- Cybersecurity and Risk — Scaling and Evolving Threat Environment
- Global Supply Shock — Refocusing on Multisource and Resilience
- Digital Business — Stepping Stone to the Future Enterprise
- Meaningful Intelligence — Differentiated Decision Power
- Ecosystem-Based Innovation — Driving Enterprise Value
- Embracing the Metaverse — New Levels of Immersion
- Mainstream ESG — Sustainability Is Measured and Mandatory
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- Related Research
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