target audience: TECH SUPPLIER Publication date: Dec 2022 - Document type: IDC Survey - Doc Document number: # US49889822
IDC Survey: Future of Industry Ecosystems — Retail Industry
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Abstract
This IDC Survey examines results from IDC's Future of Industry Ecosystems Survey. In May and June 2022, we fielded our second annual global survey to 1,270 executives across 5 regions and 11 countries. The goal was to determine executive and business leader sentiment on industry ecosystems, maturity of current approach, and future plans for IT and use case investment. Respondents spanned multiple domains and included CXOs, business-line leadership, and IT management.
Key findings from the survey include:
- Mitigating demand fluctuations and supply chain constraints and pursuing environmental sustainability goals are key joint initiatives for industry ecosystem partners.
- Trust and execution across industry ecosystems are the top risks to mitigate.
- Most organizations plan to, as they did last year, expand their industry ecosystems beyond their core industries.
- Service providers will play a key role in the design and enablement of industry ecosystems.
Another key area of focus for organizations when they consider the design and operation of their industry ecosystem is improvement of customer, consumer, citizen, or patient engagement and experience. That is, how does the shared, open approach of industry ecosystems (shared data and insights, shared applications, shared operations and expertise) better facilitate this?
This IDC Survey on the future of industry ecosystems is focused on the retail industry cut of this survey data. Retailers have faced consistent headwinds of the pandemic, ongoing supply and demand disruption, and inflation (among others) over the past two years and are realizing the benefits that industry ecosystems can provide.
Sharing data and insights, having access to a varied set of applications, and working closely with an expanding set of industry ecosystem partners simply make their business more resilient, innovative, and able to meet dynamic customer and consumer needs. As retailers begin to look outward to partner with other industries for new business models, the importance of this shared, open approach across ecosystems, enabled by a blended physical and digital way of working and delivery of customer experiences, will continue to rise.