target audience: TECH BUYER Publication date: Apr 2022 - Document type: IDC MarketScape - Doc Document number: # US47455321
IDC MarketScape: Worldwide Retail Innovation Management Platform 2022 Vendor Assessment
This IDC MarketScape assesses the capabilities and strategies of worldwide specialty software providers in providing the retail industry with innovation management platforms (IMPs). For this IDC study, we consider IMPs as systems that enable retailers to gather, organize, manage, execute, and analyze innovation-related activities. Retailers can leverage such platforms across incremental, disruptive, and ecosystem innovation activities as well as address selected aspects of the key innovation subcycles. IMPs — through the set of core capabilities that characterize them — are fundamental assets that underpin the actions retailers are taking to execute long-term and growth-oriented innovation.
"Retailers are accelerating their efforts to address innovation as a formal, structured, collaborative, and iterative process that generates added value for their customers, partners, and suppliers," said Giulio Raffaele, research manager, IDC Retail Insights. "Innovation management platforms offer retailers the opportunity to plan, manage, and execute innovation processes efficiently and effectively as well as engage relevant communities of employees and key stakeholders across the extended retail value chain."