Prioritizing CX
The Amazon Advantage
Data-Driven Innovation
Barriers to Transformation
Secrets to Success
Bridging the Digital Divide
Download
2020 Retail Digital Transformation Survey
To uncover how retailers are faring in an increasingly digitally-enabled marketplace, we surveyed 100 C-suite executives at middle market retail organizations on their plans for digital transformation.
View the methodology
To truly meet and understand customer needs, retailers are deploying technologies—like AI and advanced analytics—to strengthen their data and digital capabilities. Data-driven decision-making will be particularly crucial in today’s environment as retailers continue to navigate changes in consumer shopping behavior and look to optimize their inventories based on shifts in demand.
Data-Driven Innovation
Cloud Computing
71%
WHICH DIGITAL ENABLERS ARE RETAILERS DEPLOYING?
Advanced Analytics
89%
Internet
of Things
90%
Artificial Intelligence
84%
Distributed Ledger Technology
76%
Robotic Process Automation
66%
Extended Reality
72%
3D Printing
45%
Improving customer experience (CX) topped digital priorities for retailers at the start of 2020, and likely remains a high priority today, even in a COVID-19 environment. Seamless e-commerce and mobile experiences will be especially crucial as retailers seek to attract and retain interest from the uptick of homebound consumers making online purchases.
Prioritizing CX
Speed of
Customer Support
Click the icons or use the arrows to learn more.
63%
As some digital behemoths like Amazon experience a COVID-19 boost, the industry at large will be looking to recapture market share with technology and distribution improvements.
The Amazon Advantage
22%
21%
19%
16%
13%
16%
Amazon’s Greatest Advantage
Retailers’ Greatest Weakness
stronger
marketing
Superior
Technology
Better
Distribution
Inferior
Technology
WEaker Distribution
WEaker Marketing
Even with a clear consumer imperative and proof of ROI, roadblocks continue to impede retailers’ efforts. While the industry’s biggest obstacles currently stem from COVID-19-related disruption, concerns around data privacy and cybersecurity are likely to remain top of mind as cybercriminals look to exploit the pandemic to target retailers and consumers alike.
Barriers to Transformation
Disruption by Industry Outsiders
17%
POOR CUSTOMER
EXPERIENCE
14%
Disruption by Industry Competitors
23%
Top Threats
commoditization / AUTOMATION
12%
Cyberattacks or Privacy Breaches
34%
96% of retail “transformers” rate their digital transformation initiatives from the last year a success, and 33% executed digital initiatives that were “overwhelmingly” successful.
Secrets to Success
Digital capabilities are advanced compared to peers
Consumer demand
drives transformation
Focus on training and upskilling employees
85% have seen revenue increases tied to digital transformation
96% digital transformation success rate
Implementing
against a digital transformation strategy
The 2020 Retail Digital Transformation Survey was conducted by Rabin Research Company, an independent marketing research firm.
Methodology
$250 Million to
$500 Million
26%
$501 Million to
$750 Million
26%
$751 Million to just
under $1 Billion
24%
$2 Billion to
$3 Billion
5%
$1 Billion to just
under $2 Billion
19%
Executive title
executive title
Annual Revenue
Annual Revenue
Retail Segment
Retail Segment
Annual Revenue
Chief Financial Officer
13%
Chief Operating Officer
14%
Chief Technology Officer or Chief Innovation Officer
22%
Chief Executive Officer
Executive title
11%
Line of Business Executive
9%
CHIEF MARKETING OFFICER
14%
Discount Retailer
17%
Department Store
22%
Big Box Retailer
27%
Pure Play e-Commerce
16%
specialty Retailer
18%
Retail Segment
57%
Quality of
Customer Support
42%
Personalization
Consistency
41%
User Friendliness/
Design
42%
we surveyed 100 RETAIL C-Level Executives
Non-Tech
61%
Tech
39%
Chief Information Officer or Chief Information Security Officer
17%
Top CX Focus Areas
Profile of a Retail Transformer
Jump to another report
General
Energy
Healthcare
Industry 4.0
Technology
Financial Services
* This survey was conducted in late 2019, prior to the global COVID-19 pandemic.