Technology | Media | Telecommunications

Monday, January 14, 2008

Worldwide Retail Industry 2008 Top 10 Tech

Global Retail Insights announced the release of its annual report, Worldwide Retail Industry 2008 Top 10 Predictions, which identifies the major market and technology trends that will directly influence global retailing and the resulting shopper experience around the world.

According to this new study, retailers are preparing for what will no doubt be a turbulent 2008.

"A tepid holiday season to close 2007, combined with intensifying macro-economic pressures led by the U.S. sub-prime mortgage meltdown, currency challenges, and increasing energy costs, will force most merchants into new IT strategies at all levels -- from the global sources of supply to the products on the store or e-commerce shelf," said Scott Langduc, vice president of Research and Business Leader for Global Retail Insights. "The quest for top-line growth will further drive retailers toward regional and global expansion."

Changing shopper demographics and habits will require new levels of customer intelligence and coordinated action, this new study reveals. These dramatic shifts will force retail IT organizations to accelerate and expand their role as custodians of enabling technology investments that will help retailers plan and act differently this upcoming year.

Predictions presented and analyzed in this study discuss how:

- Retailers will require the centralization and integration of demand intelligence technology;

- Newspaper circulars will succumb to personalized promotions and narrowcast advertising;

- Global retailer technology investment in the increasingly open India market will change the industry landscape;

- Corporate Social Responsibility and "Green Retail" will be on the top 5 list of priorities for retailers, and;

- The online social community revolution will target traditional retailers hard.