Driven in many markets by consumer optimism, 2018 was a year of progress for retail. This caused some retailers to feel a bit of a reprieve. This will be short-lived, and retailers are not moving fast enough to identify future scenarios. As a result, retailers are failing to build detailed digital business strategies to be best-positioned for what’s ahead. Gartner clients can read this research “2019 CIO Agenda: Retailers Not Moving Fast Enough to Identify Future Scenarios” expanding our analysis of the 2019 Gartner CIO Survey results for retail by investigating three key areas:
- Status of digital business transformation in retail
- Retail business model change analysis
- Customer-centricity focus in retail
Some findings on retail digital business strategies include:
- Retail companies are adopting new business models, often reactionary, at a much faster rate than they are accomplishing the digital business transformation that will serve as a foundation.
- Retailers are not scaling or refining fast enough to support the rate of business model change.
- Consumers drive business model change, but retailers underestimate societal changes and their impact on future retail scenarios.
- Retailers focus on the customer and the channel; they underestimate capabilities and the value proposition.
- Retailers underestimate the importance of IT in new retail business models.
Business models are changing faster than digital business strategies that support them
Closing the gap in perception of the importance of IT in new retail business models requires leveraging Gartner’s retail scenario framework to develop common understanding. (See Retail Scenarios 2025 Require More Than E-commerce).
Gartner clients can track our retail coverage on this landing page:
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