Gartner Research

Implications of Customer Expectations on Retail Business Strategies and Technology Investments for Digital Business and Beyond

Published: 24 March 2016

ID: G00298933

Analyst(s): Miriam Burt

Summary

Customers' increasingly intelligent use of technology is fueling their expectations of how they want to interact with retailers. Retail CIOs should understand that survival beyond digital business is tied to customers' lifestyles and not to just how they shop.

Table Of Contents

Analysis

  • What Business Are We Really In? What Business Should We Be In?
  • Customer Expectation No. 1: "I Want One View of the Retail Brand"
    • Implications for Retailers' Business Strategies — Working Toward Making Multichannel "Business as Usual" the Backbone of Digital Business
    • Implications for Retailers' Technology Investments — Increasing Investments in Managing Multichannel Data for Digital Business
  • Customer Expectation No. 2: "I Want It When I Want It"
    • Implications for Retailers' Business Strategies — Improving Multichannel Order Management to Offer Customers More Choices for Fulfillment
    • Implications for Retailers' Technology Investments — Implementing Distributed Order Management as an Integral Part of Increasing Multichannel Order Fulfillment Options for Competitive Advantage
  • Customer Expectation No. 3: "I Expect Excellent Customer Service in the Store"
    • Implications for Retailers' Business Strategies — Working Toward Operating the Store as the Digital Business Execution Hub
    • Implications for Retailers' Technology Investments — Enabling Digitalization of the Store
  • Customer Expectation No. 4: "I Want to Share My Experience of the Brand With Others"
    • Implications for Retailers' Business Strategies — Converting Customers to Brand Evangelists
    • Implications for Retailers' Technology Investments — Harnessing the Convergence of Mobile and Social Technologies as the Brand Gateway
  • Customer Expectation No. 5: "I Want the Shopping Experience to Be About Me"
    • Implications for Retailers' Business Strategies — Focusing on Generating Contextual Customer Shopping Experiences Through the Digital Workplace
    • Implications for Retailers' Technology Investments — Deploying Smart Machines in the Digital Workplace
  • Customer Expectation No. 6: "I Want to Control the Retailer's Brand"
    • Implications for Retailers' Business Strategies — Collaborating With Customers as a Pathway to Innovation
    • Implications for Retailers' Technology Investments — Fostering Innovation Through Customer-Centric Bimodal IT
  • Customer Expectation No. 7: "I Expect the Retailer to Be Trustworthy"
    • Implications for Retailers' Business Strategies — Making Resilience the Foundation of Security and Risk Management Strategy
    • Implications for Retailers' Technology Investments — Implementing User and Entity Behavior Analytics as a Preventative Measure for Risk Mitigation and Management
  • Customer Expectation No. 8: "I Expect Experiences and Services for My Lifestyle"
    • Implications for Retailers' Business Strategies — Moving Strategically Toward a Services-Oriented Retail Strategy
  • Beyond Digital Business
    • Implications for Retailers' Technology Investments — Deploying Algorithms for Competitive Advantage Beyond Digital Business
  • Recommendations

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