 "IDC's Top 10 Retail Predictions For 2014")
IDC Retail Insights has hosted a webinar “IDC Retail Insights 2014 Predictions: Worldwide Retail” highlighting the top 10 predictions for the year ahead. Featuring analysts Robert Parker, Greg Girard, Leslie Hand and Spencer Izard, the session provided organisations with insight and perspective on long-term industry trends along with new themes that may be on the horizon.
The Top 10 Predictions are:
Prediction 1 - In 2014, fast-followers will chase the 50 global retailers already transforming store, mobile, and ecommerce channels, supply chains, merchandising, and marketing for the omni-channel customer experience
Prediction 2 - Business transformation will drive ERP, core merchandising, FAR, and planning investment to a 9 percent CAGR through 2015
Prediction 3 - By 2016, leading retailers will improve same-shopper sales with immersive commerce driving additional revenue growth of 1.5 percent and margin growth of an additional 3 percent
Prediction 4 - By 2017, marketing and advertising technology investment will increase by 50 percent
Prediction 5 - Retailers will narrow and enable big data and analytics (BDA) projects in 2014 as 20 percent-30 percent of projects fell short in 2013
Prediction 6 - Emerging consumer privacy concerns will force 50 percent of early adopters to revisit hyper-personalised promotions by 2015
Prediction 7 - E-commerce and store platform replacements that enable mobile, integrated and interactive experiences will support a 10 percent CAGR in commerce investment through 2017
Prediction 8 - As product assortment refresh cycles quicken, 25 percent of mid-sized retailers will initiate new PLM or sourcing projects in 2014
Prediction 9 - Retailers will double the rate of industry supply chain investments in 2014, as compared to 2013
Prediction 10 - By 2016, 50 percent of national retailers, will invest in distributed order management, enterprise inventory visibility, and workforce management to enable same day fulfilment
“In the next three years, retail will reinvent itself as omni-channel leaders reach for customer relationship, relevancy, and reciprocity. A new replacement cycle of enterprise, planning, and commerce systems will anchor complex company-wide business transformation for immersive experience and commerce. Quick-to-market leaders will improve same-shopper sales–fast becoming the most significant leading indicator of future performance," said Robert Parker, IDC Retail, Energy and Manufacturing Group Vice President and General Manager. We expect renewed investment in the narrower but transformative capabilities of PLM and sourcing, marketing and advertising, and big data and analytics."
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