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IDC Perspective: Experiential Retail Demands Next-Generation Product Intelligence

IDC Perspective: Experiential Retail Demands Next-Generation Product Intelligence

This IDC Perspective examines experiential retail and its need for next-generation product intelligence. The digital transformation of retail to relevant and rewarding experience is driving new needs for bringing product information to bear on customer journeys — focused on "selling" and "living" product attributes. AI and product information are symbiotic — AI develops product information and product information trains AI. Last-generation product intelligence management (PIM) systems fall short of what's required — PIM systems to curate visual, dynamic, structured, and unstructured attributes across trading partner networks starting from the shoppers' point of view."Last-generation PIMs simply aren't up to these requirements," said Greg Girard, program director, IDC Retail Insights. "AI and the networked economy are changing both sides of the retailer-shopper relationship. The successful pivot to experiential retail demands the lynchpin of selling and living attributes to connect products to experience."


Executive Snapshot
Situation Overview
Digital Transformation in Retail
Experiential Retail
"Selling" and "Living" Attributes: Connecting Products to Experience
Experiential Retail Demands More of PIM Systems
Next-Generation PIM: From Product Information to Product Intelligence
Product Intelligence Will Drive — And Be Driven By — AI
Advice for the Technology Buyer
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Related Research
Synopsis

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