PHILADELPHIA, Nov. 2, 2017 /PRNewswire/ -- Total Retail, the preeminent source for executives looking for the latest news and analysis on the retail industry, has launched its 2017 Retail Technology Report: An Analysis of Trends, Buying Behaviors and Future Opportunities. This comprehensive report features the results of Total Retail's recent survey of its audience of retail executives about their companies' current and future technology strategies and needs, as well as their internal processes for evaluating and purchasing technology.
In conjunction with Radial, the sponsor of this report, an online survey was conducted over a two-week period, and a total of 177 responses were collected.
"We wanted to know what are the technologies retailers are currently using; how spending on those technologies will change in the next 12 months; their opinions on the emerging technology trends that will have the biggest impact on the industry in 2018; and how they go about buying technology, from who in their organization is involved in the decision-making process to how many vendors they typically consider to how long the entire process typically takes," says Melissa Campanelli, editor-in-chief, Total Retail.
What emerged from the data was that retailers are moving slower to adopt new technologies than might be perceived. Emerging technologies such as augmented and virtual reality, artificial intelligence, and drones get a lot of hype for how they're going to disrupt the retail industry — and they very well may in the near future — but it's more established tech like marketing automation, video and mobile websites that currently have retailers' attention (and budgets).
Here are some other key findings from the report:
51 percent of respondents will be increasing their spending on marketing automation technology in the next 12 months;
37 percent of respondents believe the Internet of Things is the emerging technology that will have the greatest impact on the retail industry in 2018;
67 percent of respondents most often discover new technology through self-driven research; and
30 percent of respondents said their omnichannel department has no involvement in the technology buying process.
The Retail Technology Report serves as a valuable resource for retailers looking to learn more about the technology landscape within their industry, offering them the chance to benchmark themselves against their competition. In addition, technology providers serving the retail industry will find value in this exclusive data, which will help them better serve their existing clients as well as recruit new ones.
About Total Retail/NAPCO Media/Radial Total Retail is the go-to source for retail executives looking for the latest news and analysis on the retail industry. Featuring a quarterly print magazine, daily e-newsletter (Total Retail Report), daily-updated website, podcast channel, virtual and in-person events, and research reports, Total Retail offer retail executives the information they need to do their jobs more effectively and grow their professional careers.
NAPCO Media, Total Retail's parent company, is a leading B-to-B media company specializing in creating community through content via integrated media programs, video services, marketing services, events and event management, custom content, eLearning and market research. NAPCO Media has rapidly expanded its portfolio to include NAPCO Video Services, NAPCO Events, NAPCO Marketing Services and NAPCO Research.
Radial is the leader in omnichannel commerce technology and operations, enabling brands and retailers to profitably exceed retail customer expectations. Radial's technical, powerful omnichannel solutions connect supply and demand through efficient fulfillment and transportation options, intelligent fraud, payments, and tax systems and personalized customer care services.