Digital Software Solutions

Key Success Factors for Digital Transformation in the Retail Industry

IDC conducted in-depth interviews with business and IT executives across the retail industry to understand their digital transformation strategies. The research confirmed that retailers no longer question if customers shop differently and that retailers clearly recognize the importance of delivering a seamless experience through any channel.

Five critical success factors that emerged from IDC research:

  • Give the customer the "best experience" with every interaction by anticipating needs and meeting the customer on his/her unique shopping journey.
  • Achieve a deeper understanding of the customer with every interaction that informs smarter decision processes and engagement tactics to win the battle for the omni-channel customer.
  • Focus on individualized engagement to win the battle for the omni-channel customer.
  • Engage in activities that support immediate and long-lasting results — architect for the future.
  • Take a "revolutionary" approach toward enabling omni-channel and digital business.

Knowing the customer and being able to personalize and contextualize interactions in both the digital realm and the physical realm will be business growth enablers as retailers become more focused on being 1:1 relationship builders and commerce agents. To accomplish this feat, retailers should
evaluate whether they have an omni-channel retail execution platform in place that will support today's business growth plans and align innovation to predict and participate in the customer journey.

Companies that fail to implement omni-channel congruent architectures and systems will struggle more and more as time goes on, as consumer behaviors become more aligned with best practice retail capabilities, which continually change and disrupt the consumer experience. In this whitepaper, IDC outlines the five critical success factors for retailers that emerged from the research. 

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