IDC FutureScape: Worldwide Retail 2023 Predictions

IDC FutureScape Figure

• Figure: IDC FutureScape: Worldwide Retail 2023 Top 10 Predictions

Executive Summary

IDC FutureScape Predictions

• Summary of External Drivers

• Predictions: Impact on Technology Buyers

• Prediction 1: By 2025, 20% of the Top 100 Global Retailers Will Drive Holistic Business Results Using Distributed AI Systems with Integrated Data Across Retail Planning, Decisions, Operations, and Optimization

• Associated Drivers

• IT Impact

• Guidance

• Prediction 2: By 2025, 50% of Retailers Will Increase Data Management and Governance Technology Investments by at Least 20% to Harness Insights from Spiraling Amounts of Data to Grow Omni-Channel Revenue

• Associated Drivers

• IT Impact

• Guidance

• Prediction 3: By 2027, 10% of Retailers Will Employ Software-Defined Store Services Models to Change the Economics of Delivering Game-Changing Technology in Store

• Associated Drivers

• IT Impact

• Guidance

• Prediction 4: By 2027, 40% of Retailers Will Implement Critical Product Life-Cycle KPIs That Tie Environmental Factors to Supplier Selection at All Tiers of Supply

• Associated Drivers

• IT Impact

• Guidance

• Prediction 5: By 2024, 60% of Retailers Worldwide Will Use API Integration to Connect Owned, Third-Party, and Social Commerce Platforms and Optimize Customers' Interfaces Through Multidimensional Marketplaces

• Associated Drivers

• IT Impact

• Guidance

• Prediction 6: By 2026, Retailers Will Solve the Challenge of Matching Inventory Plans to Omni-Channel Orders, Resulting in a 15% Reduction in Split Shipments, 7% Reduction in Packaging, and 20% Increase in CX

• Associated Drivers

• IT Impact

• Guidance

• Prediction 7: By 2024, 65% of Retailers Will Invest in Visual Commerce to Enable Personalization Through 3D Product Configuration and Virtual Try-On and Reduce Complexity Through Image-Based Interfaces

• Associated Drivers

• IT Impact

• Guidance

• Prediction 8: By 2026, 40% of Retailers Will Implement End-to-End Integrated Cloud Security Solutions to Secure Data Across Omni-Channel Applications and Endpoints While Reducing the Number of Cyberattacks and Losses

• Associated Drivers

• IT Impact

• Guidance

• Prediction 9: By 2025, Over 90% of the Top 100 Global Retailers Will Build Their Own or Will Partner with a Media Vendor/Provider to Build Retail Media Networks to Leverage First-Party Data for Revenue

• Associated Drivers

• IT Impact

• Guidance

• Prediction 10: By 2023, 75% of Enterprise Retailers Will Double Deployment of Mobile Devices for Associates to Empower Employees to Improve Customer Service by Continuous Learning, Communication, and Operational Guidance

• Associated Drivers

• IT Impact

• Guidance

Advice for Technology Buyers

External Drivers: Detail

• Cybersecurity and Risk — Scaling and Evolving Threat Environment

• Global Supply Shock — Refocusing on Multisource and Resilience

• Digital Business — Stepping Stone to the Future Enterprise

• Meaningful Intelligence — Differentiated Decision Power

• Ecosystem-Based Innovation — Driving Enterprise Value

• Embracing the Metaverse — New Levels of Immersion

• Mainstream ESG — Sustainability Is Measured and Mandatory

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• Related Research