TECH BUYER Oct 2019 - IDC FutureScape - Doc # US45588719

IDC FutureScape: Worldwide Retail 2020 Predictions

By: Andrea Sangalli, Jon DukeResearch Vice President, Retail Insights, Robert Eastman, Leslie HandVice President, IDC Retail Insights, Giulio RaffaeleResearch Manager, Retail Insights, IDC Europe, Ornella UrsoSenior Research Analyst, IDC Retail Insights

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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