20 Mar 2017
Customer experience goes digital Australian Retailer IT Spending to reach USD $1.24 billion in 2017
IDC’s recently published Asia Pacific Retail IT Spending Guide suggests that Australian retailer IT spending will reach USD $1.24 billion in 2017, thereby positioning Australia as the second highest spender in the region after China. As part of their customer engagement focus, Asia/Pacific retailers are investing in customer-facing technologies, developing smartphone apps, leveraging on cloud infrastructure, and reinventing their stores to become fulfillment centers. Retailers are challenged to transform their business and recent IDC Retail Insights survey highlighted operational excellence, exploiting new markets and customer engagement as top 3 business priorities across the region. This has fueled the retail IT spending growth in the Asia/Pacific region.
"Despite ICT budget constraints, Australian retailers understand and appreciate the long-term benefits offered by cloud, mobility and particularly, big data. This shows that they are committed to operating at their highest potential. Competition from international players has significantly increased in the last 6-12 months and retailers are intensely exploring opportunities to reposition themselves to improve customer loyalty and prevent loss of market share” says IDC’s industry analyst Jaideep Thyagarajan
“The Third Platform technologies enable business agility and open up new sales channels to attract, inspire and retain customers. However, retailers are concerned about increasing complexity in their IT environment leading to escalating operational costs. While there is an urge to harness ICT opportunities, there is also an immediate need to simplify and improve the legacy IT platforms. In addition, recent data breaches are placing pressure on retail organisations to enhance their data security measures across all stakeholder datasets” says Mike Ghasemi, Research Director for IDC Retail Insights Asia/Pacific.
“Recent leadership changes in some of the big retailers and the ensuing announcements to digitally transform their organizations further testifies that retailers are committed to improve their digital health to cater to the needs of the connected customer and to increase workforce productivity before it is too late. What we are really seeing is an arms race across the retail sector", adds Jaideep.
This media release relates to document: Doc#AU42326517, “Pivot Table: Asia/Pacific Retail IT Spending Guide, 2015-2020”
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