Table of Contents
IDC FutureScape Figure
Figure: IDC FutureScape: Worldwide Retail 2020 Top 10 Predictions
Executive Summary
IDC FutureScape Predictions
Summary of External Drivers
Predictions: Impact on Technology Buyers
Prediction 1: By 2022, 20% of Retailers Will Embrace a Complete Cultural Shift Where Leadership Champions Disruptive Innovation, Driving Investment That Launches the Next Stage of Growth, While 80% See Deceleration
Associated Drivers
IT Impact
Guidance
Prediction 2: By 2025, 25% of the Retail Companies with an IDC Digital Index of Less than 100 in 2020 Will Close All Stores
Associated Drivers
IT Impact
Guidance
Prediction 3: By 2024, 60% of Retailers Will Implement AI-Enabled Software Solutions; However, Only 20% of Those Will Unlock True Differentiation-Focused Use Cases, Broadening the Gap in the New Intelligence Divide
Associated Drivers
IT Impact
Guidance
Prediction 4: By 2022, 35% of Retailers Will Have Announced Partnerships or Mash-Ups That Cross Shifting Retail Ecosystems to Offer New Services That Converge the In-Store and Online Customer Experiences
Associated Drivers
IT Impact
Guidance
Prediction 5: By 2023, 65% of Top Global 250 Retailers Will Have a Digital Workforce Lifelong Learning Strategy in Place, Enabling up to 20% Increase in Employee Retention
Associated Drivers
IT Impact
Guidance
Prediction 6: By 2024, Empathy Among Brands and for Customers Will Drive Organizations to Adopt Shared Process Intelligence Across the Ecosystem That Drives 20% Collective Growth in Customer Lifetime Value
Associated Drivers
IT Impact
Guidance
Prediction 7: By 2021, More than 50% of Retailers, Globally, Will Have Launched at Least One Co-Innovation Program, Enabling 15% of Retailers to Sell Their Own Tech IP as an Asset
Associated Drivers
IT Impact
Guidance
Prediction 8: By 2021, 60% of Major Retailers Will Use Consent-Based Approach to Maximize the Value of Contextualized Customer Journey Personalization and Automated Conversations, Increasing Loyalty up to Four Times
Associated Drivers
IT Impact
Guidance
Prediction 9: By 2021, 80% of Retailers Will Have Implemented a Retail Commerce Platform, with 35% of Them Achieving More than 10% Improvement in Customer Experience Metrics, Such as CSAT and NPS
Associated Drivers
IT Impact
Guidance
Prediction 10: By 2023, the 50% of Retailers That Have Linked Self-Service Technology Strategy to DX Will See a 35% Increase in Net Margin, 10% Increase in Customer Loyalty, and 5% Decrease in Staff Turnover
Associated Drivers
IT Impact
Guidance
Advice for Technology Buyers
External Drivers: Detail
Accelerated Disruption: Navigating Business Challenges as Volatility Intensifies
The Platform Economy: Competing at Hyperscale
Sense, Compute, Act: Maximizing Data Value
Crisis of Digital Trust: Escalating Threats Mandate Strategic Responses
Rising Customer Expectations: More Convenience, Customization, and Control
The Future of Work: Agile, Augmented, Borderless, and Reconfigurable
Economies of Intelligence: AI, Human, and Organizational "Learning" Fuels Asymmetrical Advantage
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