Advertise with

IDC retail insights: Top 10 predictions for global retail
IDC retail insights: Top 10 predictions for global retail

IDC retail insights: Top 10 predictions for global retail

RETAILER NEWS - Dec 1st 2016, 10:25

The need for digital transformation, more integrated IT and operations, business security, and rethinking the future of work are among the themes that dominate IDC Retail Insight’s top 10 predictions for worldwide retail 2017. 

While the predictions largely focus on the near- to mid-term (2017–2020), the impact, in some instances, will be felt for years to come, according to IDC. Most of the predictions refer to a continuum of change within the wider ecosystem of the retail industry and global economy.

IDC’s top 10 predictions

1. By 2019, digital transformation Investments will triple, drawing funds away from store capital and profoundly changing the retail industry;

2. In 2017, no less than 40% of new retail applications purchased will be deployed in the cloud to speed and secure business objectives.

3. By 2018, 30% of major retailers will adopt an omnichannel digital B2B2C commerce platform, improving customer experience, process efficiency, and inventory management;

4. A surge in cybersecurity breaches will result in a 20% escalation of spending on managed services by 2018;

5. Retail mobile enablement will triple mobile investments in 2017 and double spending on wireless infrastructure through 2019;

6. Intelligent assistants will become a must-have app in 2017 and support shoppers' "jobs to be done" in context-aware omnichannel conversations by 2018;

7. By 2019, robotics and IoT technologies will increase in-store, in-warehouse, and in in-distribution center productivity by 1.5x for early adopting retailers and by 3x for later adopters;

8. By 2019, 20% of major retailers will use augmented reality to enrich the product selection experience and convert shoppers to buyers three times faster

9. By 2018, retailers will pursue alternatives for secure networks that protect data and eliminate or lower fees; and

10. By 2019, artificial intelligence will change how 25% of merchants, marketers, planners and operators work, improving productivity by 30% and key performance indicators by 10–20%.

"Retailers must recognize and drive digital transformation,” said Leslie Hand, VP, IDC Retail Insights. “Retailers dealing with legacy, disconnected, and siloed systems have latencies and speeds that cannot support modern commerce, nor do most of the legacy systems allow retailers to quickly launch the types of services that customers today are expecting. At a time when customer expectations are rising and customers are more digitally fluent and digitally equipped than ever before, customers are expecting that their shopping experience will be easy, convenient, frictionless, and available anytime everywhere."From 

Read more about: retail | predictions | insights | global retail

Related News

Retail sales remain muted with consumers under pressure
20/09/2019 - 14:31
Retail sales for July marginally declined to 2 percent year on year as sales growth continued to reflect a muted demand in South Africa, with consumers’ discretionary income under strain.

Pick n Pay rolls out R4 lifetime reusable bag made from recycled plastic bottles
20/09/2019 - 14:14
Pick n Pay is rolling out its new budget green People n Planet reusable bag nationally after a successful trial with customers earlier this year. The bag is expected to be in all stores by mid-October.

Zara launches online store in South Africa
19/09/2019 - 11:58
Zara has launched its online sales in SA through its dedicated website This marks an important milestone in the expansion of Zara’s integrated store and online platform into markets where it already has a store presence.

Pick n Pay launches collectable Rugby Super Cards
19/09/2019 - 11:28
Local sports fans can once again feel part of the upcoming rugby tournament thanks to the launch of Pick n Pay’s new Rugby Super Cards.

The V&A Waterfront’s Victoria Wharf is SA’s greenest shopping centre
19/09/2019 - 09:13
The V&A Waterfront’s far-reaching waste management and recycling practices has earned the property a prestigious Green Buildings Council of SA (GBCSA) 5 Star Green Star Existing Building Performance v1 certification (EBP v1) for the popular Victoria Wharf Shopping Centre – the highest rating for any existing shopping centre in South Africa.