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Accelerate digitization to enhance agility, deliver unified customer experiences and drive profitable growth

Retail, consumer goods and wholesale organizations have navigated a tumultuous year led by rapidly changing customer behavior and an urgent need to improve agility. In response, this year, executives identify phygital strategies and supply chain agility as their top digital initiatives. Digitization’s impact on business models continues to rise, particularly in retail. Sustainability is a key focus for the majority of organizations.

Key findings from our conversations with retail, consumer goods and wholesale executives in 2021 follow, or you may download the PDF.

Top trends and industry priorities

Top trends

Retail and wholesale

  1. Becoming digital organizations
  2. Omnichannel is now the new normal
  3. Digitization and optimization of the supply chain

Consumer goods

  1. Becoming digital organizations
  2. Big data and predictive analytics
  3. Regulatory compliance, transparency and sustainability
Top business priorities

Retail and wholesale

  1. Improve the customer experience
  2. Improve supply chain agility
  3. Optimize today’s operations

Consumer goods

  1. Optimize operations
  2. Improve supply chain agility
  3. Harness the power of data analytics
Top IT priorities

Retail and wholesale

  1. Improve the customer experience
  2. Drive IT modernization
  3. Implement agile supply chains

Consumer goods

  1. Drive IT modernization
  2. Deliver the benefits of big data and business insights
  3. Improve the customer experience

 

Growing focus on business model evolution and sustainability

88%
say their organization’s business model is evolving as a result of digitization.
56%
feel strongly that environmental sustainability is core to creating future value for customers.
22%
say they are producing results from their digital strategies.

Digital leaders in retail, consumer goods and wholesale

Retail, consumer goods and wholesale executives cite increased progress with producing results from digitization strategies, with 22% achieving such results in 2021. Of these digital leaders, some common attributes emerge. The table compares responses to questions from the digital leaders to those whose organizations are still building or launching digital strategies. Learn more about the attributes of digital leaders.

Common attributes of digital leaders

Executives producing
results from digital strategies

Executives building or launching
digital strategies

Are better at introducing new products and services 83% 60%
Are more likely to have a very** agile IT supply chain 38% 15%
Are better at aligning IT and business priorities 50% 32%
Feel strongly that environmental sustainability is core to creating value for customers 70% 41%
Modernize more of their applications 40% 31%
Migrate more solutions to the cloud 50% 14%
Are more sensitive to data privacy laws
to creating value for customers
55% 26%
Secure more cloud platforms
to creating value for customers
71% 59%
Secure more mobile platforms 67% 59%

 

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Insights for Retail

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Insights for retail, consumer goods and wholesale

Download our 2021 retail, consumer goods and wholesale report.

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