IDC forecast on retail industry spending and trends

Oracle retail for CIOs
IDC has revealed its forecast on top 10 worldwide retail industry spending and trends for 2018 and beyond.

By 2019, 50 percent of retailers will have adopted a retail omni-channel commerce platform; revenue gains increase, with TCO, inventory costs, operational costs, and promotional pressure reduction, will enable up to a 30 percent increase in omni-channel profitability.

By 2019, the top 30 percent of retailers will be actively engaged in digital transformation, driving organizational shifts and investment strategies in foundational platform technologies that are cloud based, AI enabled, and composable.

By 2019, 40 percent of retailers will have developed a cx architecture supported by an AI layer; such a platform will enable CX hyper-micro personalization, providing up to a 30 percent conversion increase and thus up to 25 percent higher revenue.

By 2021, retailers will have embraced geospatial data to drive greater efficiency in omni-channel orchestration, reducing inventory carrying costs by up to 25 percent across distribution centers and stores.

By 2020, more than half of consumers will expect perfect fulfillment execution as a top reason for loyalty to retailers; as a result, retailers will increase their budgets for these technologies by up to 20 percent to create a fully transparent and user-friendly fulfillment experience.

By 2021, 10 percent of chain retail sales will be created and managed via voice-enabled digital assistants, which will accelerate the predominance of marketplaces for buying everyday goods.

75 percent of retailers will have adopted artificial intelligence–based cyberdefence technologies by 2020.

By 2019, 40 percent of retailers will have begun significant workforce transformation to meet growing pressure to deliver a resonating omni-channel customer experience by breaking down digital-physical engagement silos.

By 2020, 20 percent of retailers will have redesigned pim/mdm as ai-enabled networks for competitive insights that connect product attributes through social semantics to meaning and purpose in customer contexts, creating actionable insights to unify merchandising and marketing.

Through 2021, responding to stakeholders’ experience expectations, retailers that leverage AI, AR, and IoT for employee and customer engagement will see customer satisfaction scores rise by up to 20 percent, employee productivity rise by up to 15 percent, and inventory turns rise by up to 25 percent.

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