Gartner published our 2016 Retail Predicts in November, noting that 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.
Key findings in this research include:
- Algorithms will become the most valuable assets of the retailer that must be managed, protected and — at times — shared freely to encourage innovation.
- Disruption by the IoT will cause leading retailers to stretch risk tolerance by forming strategic collaborative partnerships with businesses and consumers, as well as making “techqusitions” to keep up with the pace of technology innovation.
- Smart machines will have a major impact on retail organization structures in store and at a headquarters level, requiring significant change management efforts.
- The digital business environment will make retailers more susceptible to commonplace cybersecurity incidents, such as data breaches.
The entire research with predictions and recommendations can be read online at www.Gartner.com.