NEW YORK, Jan. 12 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
In collaboration with analysts from Datamonitor's Verdict Research business unit, in this brief Ovum's Retail Technology team outlines the key changes in the retail industry, explains which trends will have the biggest impact, and analyses the implications and opportunities of these developments for both retailers and providers of technologies and services.
*This brief outlines business issues and technology enablers that are expected to affect the retail industry during 2010.
*The report covers developments in North America and Europe.
Retailers can expect 2010 to be another year of struggle. Retailer sales will continue to suffer in 2010. Even economies where there is talk of 'green shoots' will be fragile. Moreover, high unemployment will continue to have a negative effect on consumer confidence. Focus on the existing loyal customer base is vital for retaining market share.
Shifting consumer habits drive change in retail businesses. Applied correctly, technology can enable business to respond to such issues.
Reasons to Purchase
*Understand the key operational trends to watch during 2010.
*Gain insight into the technologies that retailers must either invest in or extract more value from in 2010.
OVUM VIEW 3
BUSINESS TRENDS AND TECHNOLOGY ENABLERS 4
GREEN SHOOTS OR NOT, RETAIL SALES WILL CONTINUE TO SUFFER IN 2010 5
The synchronised economic downturn will worsen in Europe in 2010, impacting retail sales 5
The US is showing signs of recovery but expect a fragile retail sector in 2010 5
In Asia Pacific the Indian retail sector will recover quickly but Japan will struggle 6
FOCUS ON THE EXISTING CUSTOMER IS VITAL TO RETAINING MARKET SHARE 6
Retailers must focus on the existing customer and retaining a loyal customer base 6
To ensure high levels of customer service, retailers must focus on two core areas 7
RECESSIONARY STAFF CUTS WILL NEGATIVELY IMPACT SERVICE LEVELS 7
Retailers will be short of talented retail staff in 2010 8
Managing talent and knowledge to achieve high customer service levels 8
PERSONALISE CUSTOMER INTERACTION TO RETAIN MARKET SHARE 8
New ways of interacting with customers provides opportunities for data capture 9
CRM provides a single customer view 9
INVEST IN A MULTICHANNEL RETAIL FUTURE 9
Multichannel changes everything 10
Online retail revenues will continue to grow in 2010, and beyond 10
Prepare now for m-commerce 10
Improve stock allocation, planning and merchandising to be truly multichannel 11
Multichannel retailing adds further service expectations in the 'final mile' of home delivery 11
TECHNOLOGY RECOMMENDATIONS FOR ORGANISATIONS IN THE RETAIL SECTOR 12
Map business process to accurately measure return on investment 12
Standardise infrastructure for flexible and cost effective rapid responses to market changes 12
Web 2.0 customer interaction requires a secure environment 12
RECOMMENDATIONS FOR PROVIDERS OF TECHNOLOGIES AND SERVICES 12
Understand the retail business process to realise full potential of technology investment 12
Work with your retail client to innovate in the immature multichannel technology space 13
Keep messaging simple 13
FURTHER READING 14
LEAD AUTHOR 14
CONTRIBUTING AUTHORS 14
OVUM CONSULTING 15
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