Around 64% of Western European retailers have actively embarked on a formal digital transformation initiative, while a further 21% are expected to do so by the end of 2015, according to IDC Retail Insights.
IDC’s Digitally Transforming Retail Businesses: The Western European Perspective study showed that the top Western European retailers are currently outlining digital transformation strategies to gain a competitive edge over their counterparts. These retailers aim to harness new revenue streams and retail operational efficiencies that digital transformation can provide.
The study also indicated that a high percentage of retailers are focused on creating an omni-channel model to gain a single overview of core data elements such as orders, customers and inventory.
Other priorities include equipping sales associates with mobile capabilities, finding ways to replicate the personalised service they offer online in physical stores, and developing multiple customer touch points to fulfil complex customer order requirements.
In addition, many Western European retailers are expected to make considerable investments to improve their e-commerce platforms, particularly m-commerce.
“As retailers in Europe seek new ways to differentiate themselves from the increasing competition in the region, digital transformation is a train they cannot afford to miss,” said Luca Bonacina, senior research analyst at IDC Retail Insights. “Today, all the top Western European retailers are in the process of determining how digital impacts them and what their digital transformation approach and strategy should be.”
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