Worldwide Retail 2014 Top 10 Predictions: Retail Reinvents Itself for Relationship, Relevance, and Reciprocity

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Jan 15, 2014, 10:45 ET

LONDON, Jan. 15, 2014 /PRNewswire/ -- Reportbuyer.com just published a new market research report:

Worldwide Retail 2014 Top 10 Predictions: Retail Reinvents Itself for Relationship, Relevance, and Reciprocity

This IDC Retail Insights report presents our annual top 10 predictions. Throughout 2013, as IDC Retail Insights spoke with technology vendors, strategic consultants, and numerous IT and line-of-business retail stakeholders in the United States and from around the globe, our analyst team developed, refined, and validated our thinking about the effect that gathering and waning trends will have on retailing and retail IT over the next two to three years, with particular focus on developments in 2014. We complemented these qualitative research initiatives with global and regional surveys of retailers and consumers in the context of IDC's global horizontal technology and consumer research. This study presents our conclusions and our rationale for them as a set of top 10 predictions for 2014.

"Starting in 2014 and continuing over the next two to three years, retail will reinvent itself as omni-channel leaders reach for customer relationship, relevancy, and reciprocity," says Robert Parker, group vice president of IDC's Insights program. "A new replacement cycle of enterprise, planning, and commerce systems will anchor complex companywide 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. IDC Retail Insights also expects renewed investment in the narrower but transformative capabilities of PLM and sourcing, marketing and advertising, and big data and analytics. The revenue and loyalty benefits of hyper-personalized promotions will pivot on managing emerging legal and customer risks. Finally, omni-channel retailers will preempt the threat of same-day delivery disrupting store sales with investments in distributed order management and enterprise inventory visibility."

Table of Contents

Predictions

IDC 2014 Worldwide Retail Predictions

In This Study

Situation Overview

Fifth Anniversary of "Omni-Channel Retail"

Doing More and Moving Beyond Doing: Retail Reinvention

Reach for Relationship, Relevance, and Reciprocity: Retailers Will Reinvent Customer Intimacy Through Relationship, Relevance, and Reciprocity

Drivers for the Retail Top 10 Predictions

Mixed Economic Recovery, Disparate Incomes, and Wealth

Intensification of Competition from All Quarters: Amazon, Fulfillment, New Entrants

Pull to Globalize Business and Localize Presence and Products

Borderless Anytime-Anywhere Business

Accelerating Transition to Sense and Respond

Big Data and Analytics; Shortage of Related Skills

Ubiquitous Mobile and Socially Connected Lifestyle

Increasing Concern for Privacy and Security

Changing Demographics: Millennials, Boomers, and Cultures

Media Spending and Consumption Shift to Digital and Mobile

Rapid Emergence of Cloud-Based Provisioning and Services

Varied Adoption and Mashup of 3rd Platform Pillars

Future Outlook

Prediction 1: In 2014, 20% of the Top 250 Retailers Will Embark on Transforming Store, Mobile, and eCommerce Channels; Supply Chains; Merchandising; and Marketing for the Omni-Channel Customer Experience

Transform Front-End and Enterprise Operations for Omni-Channel Customer Experience

Associated Drivers

IT Impacts