target audience: TECH SUPPLIER Publication date: Nov 2023 - Document type: Market Presentation - Doc Document number: # US49878123
Industry Performance Indices: Worldwide Retail 2023
Content
- 12 slides
Get More
When you purchase this document, the purchase price can be applied to the cost of an annual subscription, giving you access to more research for your investment.
Related Links
Abstract
This IDC Presentation includes retail industry insights based on the analysis of the global top 1,500 retailers to determine the financial success of digital transformation (DX) efforts.
It focuses exclusively on the top global retail organizations (based on global revenue), with representation from a wide variety of retail subvertical and shows a positive correlation between successfully executed DX and improved revenue and profit outcomes.
IDC's Insights team conducted a study on the impact of DX activities on retail organizations to determine:
- The extent to which organizations are digitally transforming
- The impact that DX initiatives are having on revenue and profit outcomes for the organization
- Whether the revenue and profit outcomes differ based on the maturity of digital adoption
Through this report, readers will be able to understand the correlation between revenue and profit performance and coordinated DX efforts in the retail industry. This index effectively demonstrates DX's significance in supporting business financial outcomes and is useful for vendors when talking to customers about increasing their digital capabilities.
"Coordinated digital transformation efforts that are transitioning retailers to digital enterprises are resulting in higher-than-average returns in terms of revenue and profit performance," says Ravikant Sharma, senior research manager at Industry Insights Group in IDC Asia/Pacific.
"In today's intensely competitive business environment, digital transformation is no longer a choice but a necessary requirement. Retail organizations that delay in embracing digital technologies face the risk of losing their competitive edge. On the other hand, those that prioritize digital transformation are typically experiencing substantial financial benefits," adds Ayush Narain, research manager, IDC Retail Insights, Asia/Pacific.