TECH BUYER Feb 2020 - IDC Perspective - Doc # US46036820
NRF 2020 Focuses on Simplification: Shifting to the Practical "What Is" from the Theoretical "What Could Be?"
By: Jon DukeResearch Vice President, Retail Insights, Ornella UrsoResearch Analyst, Jordan K. SpeerResearch Manager, Global Supply Chain, Giulio RaffaeleSenior Research Analyst, Leslie HandVice President, IDC Retail Insights, Robert EastmanResearch Manager
This IDC Perspective provides the key takeaways from the NRF Big Show 2020 event held in New York City.
Retailers at NRF 2020 were getting down to brass tacks with a pragmatic and holistic approach to business, intent on transforming their operations to be streamlined and integrated with a goal of achieving agility and visibility. As they move toward digital transformation, they are looking to benefit from that connectivity with edge technologies such as AI, AR/VR, camera vision, RFID, 3D, and IoT that enable them to move ever closer to the customer, at the store and online, to better understand and thus delight the customer — profitably.
This IDC Perspective identifies several core trends and enablers of this transformation, yet it is important to remember that a retail enterprise cannot be built on just any one of these components. They all must be brought together in a unified field that accounts for the complexity of the components but also works toward the simplification of the whole.
"You might say retailers are in the midst of a race for their 'lives' alongside consumers and supply partners — one of which fuels the engine while the other makes running it sustainable," said Leslie Hand, GVP, IDC Retail Insights. "The great news? By and large, retailers have a great race plan, built on a new understanding of the value of the store in an omni-channel enterprise and of the workforce in delivering perfect experiences across it. And the work of executing this — of individual retailers creating a new and integrated version of their businesses — is well underway."
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