Gartner’s retail team collaborated on this set of new year’s resolutions for retail CIOs. The dawn of a new decade is the perfect time for retail CIOs to get serious about the changes necessary for digital transformation success. Gartner clients can leverage research that identifies five key areas that will ready CIO retail culture, strengthen digital capabilities and position the organisation to win.
Key Challenges for Retailers in 2020
- Stores are still largely disconnected from the other channels, impacting the ability to understand, anticipate and preempt customer needs and operational activities.
- Inventory, especially “dead inventory,” creates a significant financial constraint for retailers when that money could be better allocated elsewhere.
- Investment in digital transformation will not subside, creating urgency for ongoing cost optimisation efforts.
- In order to differentiate from competitors, the retail workforce needs to be one that is empowered and equipped with knowledge and technology in order to succeed.
Retail CIO New Year’s Resolutions
These five resolutions for 2020 will enable retailers to well-position their organisations for the next decade of continued digital transformation. In a constantly shifting landscape, these resolutions leveraging the future retail scenarios of speed, strength, dexterity and elasticity will enable retail success. Read this blog to learn more about the retail scenarios.
Gartner clients can read more about our 2020 predictions and the importance of these key resolutions:
- Predicts 2020: Consumers Determine Retail Success Well Before the Sale
- Retail CIO New Year’s Resolutions, 2020
- Retail Scenarios for 2025 and Beyond: The Future Is Yet in Your Power
*This article is reprinted from the Gartner Blog Network with permission.