From productivity improvements to driving topline growth, the focus of enterprise IT investments is shifting. According to a survey by AT Kearney, over 60 per cent of all IT investments would be consumed by solutions that enable companies to generate sales and deliver customer service.
Source: AT Kearney
None of this is surprising, given how important technology is to offer great sales and customer service experiences. E-commerce sales have continued to trend upward, crossing the $1 trillion in 2012. All large retail stores now have an online shopping portal.
There is also another trend that is gaining momentum. The number of purchases from mobile devices is also growing impressively, now at 15 per cent of all online purchases. All this is going to fundamentally change the world of commerce where technology plays a central role.
One the other hand, customer service expectations have also grown rapidly. Companies are still in the process of finding the right mix of solutions to offer good service over multiple channels. This is going to drive increased investments in the future too.
The change in demographics is altering the retail industry more radically than anyone thought it would. The next few years are especially challenging for retail companies worldwide as they try to implement technology solutions that help them manage change and stay ahead of competition.