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Gartner Retail Research Roundup

by Robert Hetu  |  November 7, 2016  |  Submit a Comment

Gartner 2016 Retail Agenda


 

Gartner 2016

Gartner 2016


Retail Business and Technology Trends

NEW:

Industry Vision: Less Physical Retail Selling Space and Greater Retailer-Manufacturer Collaboration One way to pursue digital business transformation is to create an industry-specific vision. Managing the anticipated decline in physical retail selling space will prepare and position CIOs to be ahead of the change and enable strategic digital business transformation.

Using Algorithmic Retailing to Drive Competitive Advantage Retailers gain competitive advantage through the application of algorithms that reduce costs and grow top-line revenue. CIOs can use this research to identify use cases that will improve business performance in the unified commerce retail marketplace.

Survey Analysis: Social Media Impact on Retail Shifting Away From Bricks and Mortar Social media is one of five technologies comprising a digital business platform. Its influence on shopper behavior continues to evolve. While some multichannel retailers are learning to navigate the ever-changing social media landscape, our recent survey shows stores are losing ground to digital.

Additional:

Hype Cycle for Retail Technologies 2016 Forces not unlike wind, rain, thunder and lightning have engulfed retailers in a perfect storm. The retail storm exhibits the powerful forces of shifting lifestyles, social upheaval, political instability and a hypercompetitive marketplace driven by technological acceleration.

Retail Industry Research Focuses on Digital Business Transformation This document aggregates and consolidates Gartner research on four key elements of retail transformation in the age of digital business, and on the role of the chief information officer in supporting and leading that transformation.

Industry Vision: Consumer-Centric Ecosystems for Consumer Goods Manufacturers and Retailers  Consumer-centric ecosystems will enable manufacturers and retailers to engage people of all ages, races and income levels to experience the digital acquisition of goods and services. Developing these ecosystems will help CIOs to more directly enable strategic digital business transformation.

Cool Vendors in Retail, 2016 Retail CIOs must lead the way by capitalizing on the opportunities enabled by machine learning algorithms. Competitive advantage in digital business will be fueled by the various ways in which algorithms are being deployed and are creating new opportunities, now and in the future.

Industry Top Predicts 2016: The Technology Foundation for Digital Business Will Accelerate Industry Fluidity A digital business environment characterized by volatility and disruption will lead to industry fluidity. CIOs must understand that business transformation is called for in this high-risk environment, the bedrock of which will be the technology foundation supporting digital business.

Predicts 2016: Digital Business Uproots Traditional Retail Revenue Generation Digital business is the future for successful retailers, elevating technological capabilities to parallel traditional business expertise. CIOs must lead the way for senior leaders as new collaborative business models evolve.


Digital Business Transformation:

New:

Digital Business Requires an Excellent Associate Experience to Drive Retailer Success Driving efficiency and effectiveness in a digital business world requires retail CIOs to support a new paradigm for enhancing customer relationships by enabling engaged, informed and empowered associates.

IoT in Retail — Understand the Benefits of the IoT for Digital Business Success  The Internet of Things is a key building block for digital business, but it is also overhyped and immature. Retail CIOs must understand the most relevant IoT use cases that IT can support in order to advise the business on the benefits of successful implementations.

IoT in Retail — Understand the Costs of the Challenges Below the Tip of the IoT Cost Iceberg The IoT is a complex IT environment to manage in digital business. With no commercial off-the-shelf solutions available, retailers need to cost out custom IoT projects that require consulting and professional services to leverage immature ecosystems, technology stacks and varying standards.

Additional:

Transforming to a Customer-Led Digital Business in Retail Primer for 2016 Retail CIOs are challenged with becoming trusted advisors to deliver IT for customer-led digital business transformation. They must provide a modernized technology foundation to agilely mirror customer processes for competitive advantage in an industry-blurring business environment.

Use ‘Digital-Business-Ready’ Point of Sale to Transform From Multichannel to a Service-Oriented Strategy Retailers can use “digital-business-ready” POS as a strategic response to the shift in customers’ expectations from buying just products, however well-curated or targeted to the customer, to their expecting experiences and services for their lifestyles.

Implications of Customer Expectations on Retail Business Strategies and Technology Investments for Digital Business and Beyond Customers’ increasingly intelligent use of technology is fueling their expectations of how they want to interact with retailers. Retail CIOs should understand that survival beyond digital business is tied to customers’ lifestyles and not to just how they shop.

Smart Machines Will Be the Catalyst for One of the Most Disruptive Eras in Retail  Smart machines have the capability to transform the dynamics of the retail industry. Retailers that adopt smart machine technologies will benefit from radically changed cost structures and new streams of revenue that will enable them to gain competitive advantage.


Orchestrated Retail Execution:

New:

Market Guide for Digital-Business-Ready POS Applications for Tier 2 Midsize Multichannel Retailers  In the next two to five years, retail CIOs must implement a digital-business-ready point of sale in the context of a digital business strategy that focuses on enhancing customers’ lifestyles.

Reconsider RFID: A Re-emerging Technology That Is Bringing New Life to Digital Business RFID technology has evolved significantly since its debut decades ago, and the applications are compelling for digital business. Retail CIOs should reconsider the use cases for RFID, and identify how it can improve execution in the unified commerce marketplace and create a competitive advantage.

Additional:

Orchestrating Execution of Critical Channel Operations in Retail Primer for 2016 Chief information officers need to support a digital business environment by enabling operational excellence across channels, including in-store customer basics, knowledgeable and available associates, as well as secure and convenient payment processing, to remain competitive and successful.

Market Guide for CRM in Tier 1 Retail Five main symbiotic processes are foundational when transforming Tier 1 multichannel retailers to digital businesses. As retail CIOs select, upgrade or replace CRM applications, they should balance delivery against core processes and the ability to adapt to the new realities of digital business.

Market Guide for Digital-Business-Ready POS Applications for Tier 1 Multichannel Retailers In the next two to five years, POS must be implemented in the context of a services-oriented retail business strategy centered on enhancing customers’ lifestyles. As CIOs of Tier 1 multichannel retailers evaluate solutions, they should focus on the evolution toward digital business readiness.

Market Guide for Retail Workforce Management Applications The market for retail workforce management is fragmented and continues to evolve due to trends related to consumerization and digital business. This document guides retail CIOs through the market landscape, and helps identify what type of solution is most suitable for their specific requirements.

Link Employee Engagement to CRM Strategy to Maximize Impact in the Retail Digital Workplace Excellent associate engagement is critical to customer relationship strategy. Linking these two strategic elements will enhance retailers’ competitive position in a digital business world.

Consistent Cross-Channel Policies Are Critical for Delivering a Positive Multichannel Customer Experience As retail CIOs continue to drive digital business capabilities and link the physical and digital retail channels, there are still major disparities in the underlying policies and business rules, which need to be consistent to cultivate a positive customer experience.

Survey Analysis: In-Store Digital Workplace Requires Workforce Optimization With Advanced Analytics CIOs know that optimizing the in-store workforce is critical for consistent and responsive delivery on customer expectations. Therefore, workforce management must evolve to encompass a strategic view of optimization via increased use of advanced analytics to inform associate engagement initiatives.


Customer-Centric Merchandising and Marketing:

New:

Magic Quadrant for Merchandise Assortment Management Applications Adoption of assortment management applications is growing as retail CIOs emphasize cloud, big data, advanced analytics and algorithmic approaches to improve retail performance. Retail CIOs can use this research to evaluate assortment management providers.

Critical Capabilities for Merchandise Assortment Management Applications This research takes a critical look at the capabilities that will provide large multichannel retailers with the ability to create differentiation and competitive advantage in the market. Retail CIOs should review the capabilities by use case for fit in their organization.

Additional:

Implementing Customer-Centric Merchandising and Marketing in Retail Primer for 2016 CIOs will be challenged to ramp up enabling technology investments as digitalized retailers use advanced analytics fueled by big data to reorganize merchandising and marketing around the needs of the consumer.

Algorithmic Retailing: Merchandising Leads the Way Leveraging algorithms is the only way that merchandising can meet the customer centricity challenges of digital business and the digitalization of retail. This research describes algorithmic merchandising and its impact on the business.

Market Guide for Unified Price, Promotion and Markdown Optimization Applications Retailers are challenged to extract margin, while retaining customers in an increasingly competitive pricing environment. Algorithmic unified price optimization remains an opportunity for retail CIOs as they prepare for digital business. This research provides insight into the UPPMO market.


Loyalty and Retention:

Improving Loyalty and Retention in Retail Primer for 2016 Retail CIOs provide the necessary foundation for the business to leverage customer data in meaningful ways. Actionable use of customer-related information across the business to enhance the customer experience will be a key differentiator to increase market share.

 

 

Category: retail-trends  trends-predictions  

Tags: algorithms  analytics  assortment  consumers  customer-analytics  customer-centricity  digital  ecommerce  merchandising  multichannel  omni-channel  retail  stores  

Robert Hetu
Research Director
6 years at Gartner
29 years IT Industry

Bob Hetu is a Research Director with the Gartner Retail Industry Services team. His responsibilities involve tracking the technology markets and trends impacting the broad-based retail merchandising and planning areas. Mr. Hetu is an expert in the areas of brand, vendor and assortment management, merchandise planning, allocation, and replenishment. Read Full Bio




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