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Digital Outlook: Retail Industry

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Infosys commissioned an independent market research company, Vanson Bourne, to investigate the use of digital technologies and key trends in nine industries. We surveyed 1,000 senior decision makers from business and IT, from large organizations with 1,000 employees or more and annual revenue of at least US$500 million.

The report aims to discover:
a) the surging tide of digital technology adoption in organizations – what is used and where?
b) the promised land of digital technology use, and the hurdles organizations face to get there
c) the biggest disruptive digital trends within the next three years and why organizations see them as vital to future success

The summary here presents the survey results and highlights the digital outlook that will define the retail industry strategy over the next three years.

Published in: Retail
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Digital Outlook: Retail Industry

  1. 1. www.infosys.com DIGITAL OUTLOOK RETAIL INDUSTRY …
  2. 2. DIGITAL OUTLOOK RETAIL INDUSTRY 2 THE RESEARCH … 1,000 Senior IT and business decision makers were interviewed from organizations, which use digital technologies, with 1,000+ employees and US$500M or more global annual revenue. Survey covered a range of industries, across Australia, China, France, Germany, India, the UK, and the US. The research investigates the use of digital technologies and key trends in nine different industries, namely, automotive, banking, consumer packaged goods, healthcare, industrial manufacturing, insurance, life sciences, retail, and utilities. The study reveals • The surging tide of digital technology adoption in organizations - what is used and where? • The promised land of digital technology use, and the hurdles organizations face to get there • The biggest disruptive digital trends within the next three years and why organizations see them as vital to future success
  3. 3. DIGITAL OUTLOOK RETAIL INDUSTRY 3 TOP RETAIL TRENDS THAT WILL MAKE MOST IMPACT WITHIN NEXT THREE YEARS … The three trends receiving most mentions, as making a positive impact on the business, show that retail organizations believe that the next three years will not only be about creating a big splash with disruptive technologies, but also about using proven applications to do more, or differently, than before. 1 Customer convenience 2 Workforce management 3 Customer experience
  4. 4. 4 DIGITAL OUTLOOK RETAIL INDUSTRY DIGITAL TECHNOLOGIES THAT RETAIL INDUSTRY USES THE MOST … Retail organizations utilize six digital technologies on average. The most deployed technologies in the industry are: 74% Cyber security 66% Big data analytics 62% Enterprise cloud 52% Artificial intelligence 51% Business process management solutions 49% ERP and enterprise application implementation/modernization
  5. 5. 5 DIGITAL OUTLOOK RETAIL INDUSTRY KEY GOALS OF IMPLEMENTING DIGITAL TECHNOLOGIES … For retail companies, the purpose of implementing these technologies varied with the technology. In the case of cyber security, big data analytics, BPM, and ERP, it was to improve existing business operations. In the case of cloud and AI, an equal number of responses were in favor of improving existing operations and solving new business problems. Big data analytics 63% are implementing it to improve existing business operations 46% to solve new business problems 46% to create new opportunities Cyber security 71% are implementing it to improve existing| business operations 51% to solve new business problems 29% to create new opportunities Enterprise cloud 58% are implementing it to improve existing business operations 58% to solve new business problems 42% to create new opportunities Artificial intelligence 63% are implementing it to improve existing business operations 62% to solve new business problems 40% to create new opportunities
  6. 6. 6 DIGITAL OUTLOOK RETAIL INDUSTRY THE AREAS THAT ARE ATTRACTING INVESTMENTS ARE… … 79% Augmented reality for virtual selling 70% 68%73% Technologies for point-of-sale or in-store experiences 68% …AND SO For the retail sector, 2018 will be about the things that have always mattered the most in their business - engaging the customer with better understanding, service, and experience. It is also encouraging that the industry is already looking ahead of 2018 to invest in a technology such as augmented reality that could disrupt an industry that has already been disrupted a great deal. Aligning marketing spending with data analytics Retail workforce management technology/platform Personalizing customer experiences
  7. 7. Copyright © 2018 Infosys Limited Your journey to being more digital extends from core modernization to customer delight. To steer through that path purposefully, write to us. … Write to Us
  8. 8. Copyright © 2018 Infosys Limited Thank You … Visit Infosys.com/digital-outlook to find out more about the digital outlook that will be driving the retail industry strategy in the next three years.

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