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Retail Is a Tech Lighthouse: Views from NRF 2024

Publisher IDC
Published Mar 13, 2024
Length 9 Pages
SKU # IDC18629824

Description

Retail Is a Tech Lighthouse: Views from NRF 2024


This IDC Perspective discusses the National Retail Federation's (NRF's) Big Show and Expo 2024, emphasizing the significant role of technology in digitizing and automating retail business to keep pace with consumers' omni-channel shopping needs. The NRF synopsis highlights the importance of modernizing digital infrastructure, investing in stores, and embracing composability for retail success. The 10 IDC analysts in attendance came away from the event not only convinced that AI is truly everywhere but also relieved that this was not the only technology discussed at the event.Leslie Hand, group vice president, IDC Retail Insights, advises retailers "to strategically digitize business from the front lines to back of house and throughout the corporate technology portfolio. Implement AI and invest in GenAI where appropriate, but never lose sight of the goal. In my mind, retailers need to simplify fundamental data processes and infrastructure management while turning on more smart interfaces for consumers and employees to realize their full omni-channel potential."

Please Note: Extended description available upon request.

Table of Contents

9 Pages
Executive Snapshot
Situation Overview
Omni-Channel Store Hubs Need to Be Digital
Shrink and Security Take Center Stage, While Edge Rises Up in Support of AI
"From Data to Loyalty" for an Intelligent and Contextualized CX
Commerce Platforms Become Unified
To Best Tackle Returns — Look Across the End-to-End Concept-to-Consumer Supply Chain
Generative AI Is Everywhere, But AI Was There First
Giving the Basics a Boost: Hospitality and Travel Lean into AI But First Seek Data Democratization and Integrations
Advice for the Technology Buyer
Learn More
Related Research
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