{"id":511866,"date":"2021-07-12T09:49:01","date_gmt":"2021-07-12T13:49:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-retailers-look-to-technology-providers-to-respond-to-pandemic-driven-changes\/"},"modified":"2021-07-12T09:49:01","modified_gmt":"2021-07-12T13:49:01","slug":"u-s-retailers-look-to-technology-providers-to-respond-to-pandemic-driven-changes","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-retailers-look-to-technology-providers-to-respond-to-pandemic-driven-changes\/","title":{"rendered":"U.S. Retailers Look to Technology Providers to Respond to Pandemic-Driven Changes"},"content":{"rendered":"

<\/p>\n

U.S. Retailers Look to Technology Providers to Respond to Pandemic-Driven Changes<\/b><\/p>\n

ISG Provider Lens\u2122 report sees a sharp trend toward online shopping as customers continue buying patterns prompted by COVID-19<\/b><\/p>\n

More than 75% of retailers allow customers to buy products online and pick them up in stores; 58% provide curbside pickup, up from 4% in 2019<\/b><\/p>\n

STAMFORD, Conn.–(BUSINESS WIRE<\/a>)–
\nConsumer buying behavior, drastically changed by the COVID-19 pandemic, has U.S. retailers looking for technology providers to help them improve customer experience both online and in-store, according to a new report published today by Information Services Group (ISG<\/a>) (Nasdaq: III<\/a>), a leading global technology research and advisory firm.\n<\/p>\n

\nThe 2021 ISG Provider Lens\u2122 <\/b>Retail Software and Services Report for the U.S. finds the way goods are bought and delivered is changing rapidly in the country. More than three-quarters of retail outlets now allow customers to buy products online and pick them up in stores, while 58 percent of retailers provide curbside pickup, up from 4 percent in 2019, the report notes.\n<\/p>\n

\nE-commerce in 2021 is expected to contribute about a fifth of overall retail revenue, up from 12 percent in 2019, the report says.\n<\/p>\n

\n\u201cAs we return to normalcy after the pandemic, the sudden change in buyer behavior is having huge ramifications across the retail industry,\u201d said Michael Witty, a retail expert and director in the ISG Consumer Services business. \u201cRetailers have had to revamp their digital engagement with customers, their physical store locations and layouts, and their supply chains.\u201d\n<\/p>\n

\nThe report sees retailers embracing new customer-focused website improvements, with visual search features, digital stylists and chatbot recommendations. Social networking has also become a direct commerce channel, with in-app checkout on some Instagram posts.\n<\/p>\n

\nIn addition, store locations and layouts are changing as retailers reduce their large-format mall footprints (ISG says 25 percent of existing malls are expected to close by 2022) and focus on high-tech experience centers and pop-up shops. Low-volume and dark stores are also becoming micro-fulfillment centers, the report says, with some converted to no-inventory locations to facilitate the return of merchandise purchased online.\n<\/p>\n

\nIn addition, retailers are facing a lack of visibility into supplier inventory, and an inability to accurately forecast local consumer demand and employee absenteeism caused by illness or staggered work arrangements, the report says.\n<\/p>\n

\nRetailers are struggling to ramp up transportation capacity to meet the sharp increase in online demand, and to make up for a shortage of raw materials, ingredients and components caused by delays in international shipments. The report notes the need for functional supply chain silos to evolve into an interconnected dynamic network. This would enable more collaboration, eliminate inefficiencies and generate real-time data for better decision-making, the report says.\n<\/p>\n

\nThe retailers that performed well during the pandemic were the ones that had their merchandise planning and management systems integrated with their supply chain systems, the report adds.\n<\/p>\n

\nThe report finds many e-commerce platform providers are offering microservices that allow for a greater degree of customization, configuration and quicker time to market. Vendors are taking an API- and mobile-first approach to platform building. They are also offering many new and out-of-the-box functionalities such as promotions, recommendation engines, progressive web applications and loyalty programs, and leveraging machine-learning for greater insights into customer behavior.\n<\/p>\n

\nThe report also looks at retail transformation services, including providers that help manage merchandise and enhance the customer experience in digital stores. Retailers are experimenting with technologies such as algorithmic retailing, artificial intelligence and the Internet of Things for better inventory tracking, workforce enablement, shrinkage prevention and operational planning, the report says.\n<\/p>\n

\nThe 2021 ISG Provider Lens\u2122 <\/b>Retail Software and Services Report for the U.S. evaluates the capabilities of 36 providers across five quadrants: E-commerce Platforms, Merchandise Planning and Management Software, Retail Transformation Services, Platform Migration Services and Managed Services.\n<\/p>\n

\nThe report names Capgemini, Cognizant, HCL, Infosys, TCS and Wipro as leaders in three quadrants. Oracle and SAP were named leaders in two quadrants, and Adobe (Magento), RELEX, Salesforce and SAS were named leaders in one.\n<\/p>\n

\nIn addition, Logility and UST were named Rising Stars\u2014companies with \u201cpromising portfolios\u201d and \u201chigh future potential\u201d by ISG\u2019s definition\u2014in one quadrant each.\n<\/p>\n

\nThe 2021 ISG Provider Lens\u2122 <\/b>Retail Software and Services Report for the U.S. is available to subscribers or for one-time purchase on this webpage<\/a>.\n<\/p>\n

About ISG Provider Lens\u2122 Research<\/b><\/p>\n

\nThe ISG Provider Lens\u2122 Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Germany, Switzerland, the U.K., France, the Nordics, Brazil and Australia\/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage<\/a>.\n<\/p>\n

\nA companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.\n<\/p>\n

About ISG<\/b><\/p>\n

\nISG (Information Services Group) (Nasdaq: III<\/a>) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world\u2019s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries\u2014a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry\u2019s most comprehensive marketplace data. For more information, visit www.isg-one.com<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210712005518\/en\/<\/a><\/span><\/p>\n

\nWill Thoretz, ISG
\n
+1 203 517 3119
\n
will.thoretz@isg-one.com<\/a><\/p>\n

\nErik Arvidson, Matter Communications for ISG
\n
+1 617 755 2985
\n
isg@matternow.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Connecticut<\/p>\n

INDUSTRY KEYWORDS:<\/b> Technology Mobile\/Wireless Retail Consulting Online Retail Professional Services Other Technology Other Retail Software Networks Internet Hardware Data Management Security<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

U.S. Retailers Look to Technology Providers to Respond to Pandemic-Driven Changes ISG Provider Lens\u2122 report sees a sharp trend toward online shopping as customers continue buying patterns prompted by COVID-19 More than 75% of retailers allow customers to buy products online and pick them up in stores; 58% provide curbside pickup, up from 4% in 2019 STAMFORD, Conn.–(BUSINESS WIRE)– Consumer buying behavior, drastically changed by the COVID-19 pandemic, has U.S. retailers looking for technology providers to help them improve customer experience both online and in-store, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2021 ISG Provider Lens\u2122 Retail Software and Services Report for the U.S. … <\/p>\n

Continue reading “U.S. Retailers Look to Technology Providers to Respond to Pandemic-Driven Changes”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-511866","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nU.S. Retailers Look to Technology Providers to Respond to Pandemic-Driven Changes - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/u-s-retailers-look-to-technology-providers-to-respond-to-pandemic-driven-changes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Retailers Look to Technology Providers to Respond to Pandemic-Driven Changes - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"U.S. Retailers Look to Technology Providers to Respond to Pandemic-Driven Changes ISG Provider Lens\u2122 report sees a sharp trend toward online shopping as customers continue buying patterns prompted by COVID-19 More than 75% of retailers allow customers to buy products online and pick them up in stores; 58% provide curbside pickup, up from 4% in 2019 STAMFORD, Conn.–(BUSINESS WIRE)– Consumer buying behavior, drastically changed by the COVID-19 pandemic, has U.S. retailers looking for technology providers to help them improve customer experience both online and in-store, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. 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