This IDC Market Perspective outlines the reasons it is essential for retailers to invest in retail commerce platforms to thrive in the next decade. The challenge for retailers is that a lot of work is still in progress regarding omni-channel operating models and digital transformation (especially targeting the profitability side of the omni-channel equation) due to increased supply chain costs, competitive and promotional pressure, and legacy structures that were simply not designed for omni-channel commerce. As retail is evolving at an unprecedented speed, operating models and technology platforms also need to do so. Retailers cannot rely on legacy processes; IT infrastructure and applications architecture of the past cannot achieve exceptional customer experience and commerce performance.
"Why do retailers need a new commerce platform? It is like answering the question: 'are you now a retailer of the past or a retailer of the future?' If winning over Amazon is mission impossible and you are struggling to achieve omni-channel profits' objectives while enabling the innovation road map for the next three to five years, you should consider investing in the retail commerce platform," said Ivano Ortis, research vice president, IDC Retail, Manufacturing, and Financial Insights. "The retail commerce platform blends customer journey personalization, omni-channel commerce, and fulfillment intelligence with current and future consumer interfaces, data services, and enterprise services. It enables retailers to execute the future of commerce business models right now."