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Infographic: How Retail Analytics Is Shaping Retail's Future

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For more on how analytics is transforming Retail business, download the IDC Analyst Connection paper, "Why Retail Analytics Are a Foundation for Retail Profits," sponsored by SAP: https://www.sap.com/cmp/dg/transforming-retail/index.html?source=social-SAPAnalytics-Slideshare-Retail_IDC_Paper-Prom_Offer-IDC_Retail_Tech_Companies&Campaigncode=CRM-XM17-GTM-1AN_IDCRWP.

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Infographic: How Retail Analytics Is Shaping Retail's Future

  1. 1. All IDC research is © 2017 by IDC. All rights reserved. All IDC materials are licensed with IDC's permission and in no way does the use or publication of IDC research indicate IDC's endorsement of SAP’s products/or strategies. For more on how analytics is transforming Retail business, download the IDC Analyst Connection paper, Why Retail Analytics Are a Foundation for Retail Profits, sponsored by SAP. An IDC infographic sponsored by SAP In the next 2 years: Analytics Use Cases: Everything Is Changing in Retail Digital Transformation Motivates Retailers to Apply Advanced Analytics … Because Analytics Are a Foundation for Retail Profits Analytics Will Support Retailers Becoming Technology Companies IDC Recommends of digital transformation initiatives will be supported by cognitive/AI capabilities, providing critical on-time insights for new operating and monetization models 40% of major retailers will adopt a retail omnichannel commerce platform, integrating a data analytics layer for centrally orchestrating omnichannel capabilities of retailers are building and deploying cognitive systems across the organization, moving toward a more mature phase Q&A discovery search: The North Face Visual search: Sketchers, shoes.com Product recommendation: Icebreaker Omni-channel optimization: Evisu Shopping Assistants: Macy’s, Target, Staples Chat Bots: Sephora, Burberry, 1-800-flowers, others 30% AI will become pervasive across customer journeys, supply networks, merchandising, marketing and commerce, providing better insights for optimized retail execution 38% 32% increase in conversion rates 65% increase in repeat purchase 50% decrease in returns cost through omnichannel- approach of retailers are using analytics to generate new insights for new revenue-generating services 66% of retailers are using analytics to improve customer analysis for hyper-personalized engagement across the customer journey Under Armour is moving from sports clothing to fitness technology, high-performance apparel and new customer experiences 49% Improving productivity by 30% Improving KPIs like speed of delivery, margin targets, and sales target by 10–20% "We are growing our analytics capabilities and moving from backward-looking reporting to predictive and prescriptive analytics which allow us to establish and drive growth in a more meaningful way" – Kevin Plank, Under Armour CEO Use integrated retail planning & analytics for micro-merchandising strategies that are centered on customer experience strategies Improve workforce performance and usability with embedded integration of artificial intelligence in retail processes and applications Accelerate artificial intelligence pilots and incorporate new capabilities with a foundational design approach Source: IDC Global IoT Decision Maker Survey 2016, Retail respondents Sources: IDC research, company annual reports, public cases How Retail Analytics Is Shaping Retail’s Future 20% improvement in stock turns Adopting new integrated planning and analytics platform 20-30% decrease in surplus stock 40% increase in forecast accuracy Driving transformational improvements across the supply chain 30% of savings with the introduction of ship-from- store option Changing fulfillment models Delivering omnichannel analytics for hyper micro-personalization $710M 190M investments in health tracking mobile apps acquisition 190M registered users on its connected fitness platform

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