The 2014 version of Gartner’s Hype Cycle for Retail Technologies is out! Large multichannel retailers should recognize that the retail industry is at another significant inflection point, and only a major transformation to digital business models is likely to ensure their survival. This is because it is no longer about just understanding how consumers are shopping. Rather, it is about retailers understanding how consumers are using technology in their everyday lives, and then deploying technology in order to “embed” the retail brand in the minds of consumers as being indispensable in their lives.
Over the past 12 months, we did not observe any new, viable emerging retail technologies, but rather an escalation in hype and some enhancements in the already-existing digital technologies plotted on the 2013 Hype Cycle. Perhaps we are in a period of calm before the “digital business” storm, so retailers should capitalize on this opportunity to consolidate applications, such as master data management, master content management, and customer order and fulfillment management, because these technologies will form the foundational backbone of retailers’ application portfolios in current and future retail business models.
Fast movers along the hype cycle included Retail 3D Printing and Retail Mobile Shopping (Nonpayments). Gartner clients can read more about these and other retail trends. Here are just a few important research pieces in addition to the hype cycle:
- Predicts 2014: Digitalization in Retail Means M-Commerce Grows, E-Commerce Slows, Personalization Misfires and 3D Printing Transforms
- Cool Vendors in Retail, 2014
- Survey Analysis: Mobile Real-Time, Personalized Offers Will Fail Without Transparency of Intent and Multichannel Consumer Insight
- Business Moment: Using a Paint Purchase to Sell Laundry Detergent
- Top Retail Business and Technology Trends
- Survey Analysis: Continuous Loop Merchandise Feedback Programs Require Responses and Rewards for Customers
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