LONDON–(COMMERCIAL THREAD) – Retailers in the UK are looking to upgrade their e-commerce platforms and improve the customer experience in response to a pandemic-induced surge in online shopping here, according to a new report released today by Information Services Group (ISG) (Nasdaq: III), one of the world’s leading technology research and consulting companies.
ISG 2021 ™ supplier objective UK Retail Software and Services report finds nearly 30% of all UK retail revenue last year came from online shopping, with online sales surging 45% compared to the previous year. Growth has been largely driven by the COVID-19 pandemic.
“Prior to 2020, the UK already had one of the highest online shopping adoption rates among Western economies,” said Mike Witty, retail expert and practice director ISG Consumer Services . “UK buyers have taken advantage of a mature logistics infrastructure and the ability to move between channels. ”
Yet UK retailers are keen to use more technology tools and services to improve online and in-store shopping, the report says. Many retailers here are applying data analytics, digital signage, and shelf monitoring technologies to their in-store shopping experiences. The goal is to improve productivity, ease of customer access and personalization within stores.
Additionally, retailers are leveraging technologies across multiple touchpoints in the supply chain. For example, a robot can scan shelves for out-of-stock items, trigger a replenishment request, and then have the backend system send a robot to fill the shelf with minimal human intervention. Retailers see these systems making the supply chain more agile.
UK retailers are also adopting drive-thru pick-up points after customers order products online, the report says. Some small format retail stores in residential areas also serve as micro-fulfillment centers.
Retailers are also using several technologies to improve the profitability of online shopping, the report adds. Fashion retailers are using smart fit technologies to help shoppers choose the right size of clothing, and grocery stores are starting to consider automated picking and packaging systems, coupled with delivery logistics algorithms based on the artificial intelligence to expand online delivery.
The report also sees UK retailers shifting to hybrid operating models, in which humans and machines work together to provide services. Retailers use this hybrid model in store operations, customer-centric technology, supply chain, and online and backend operations. For example, some stores are providing portable devices to store workers to help them assist customers, and others are deploying self-service checkout kiosks to eliminate cashiers.
The report also reveals that UK retailers are embracing machine learning to gain insight into customer behavior online. Retailers are also experimenting with algorithmic retail, artificial intelligence and the Internet of Things for inventory tracking, empowering their workforce to better serve customers and make store spaces and processes more efficient and smarter.
In the area of platform migration services, the report reveals that some large retailers are moving away from packaged technology offerings and investing in developing their own microservices-enabled platforms. These companies are focused on building technology tools from scratch and taking full control of their purchasing technology environment.
The 2021 ISG Provider Lens ™ Retail Software and Services UK report assesses the capabilities of 33 vendors in five quadrants: e-commerce platforms, merchandise planning and management software, retail transformation services, services platform migration and managed services.
The report names Capgemini, Cognizant, HCL and TCS as leaders in three quadrants and Oracle and SAP as leaders in two. Adobe (Magento), RELEX, Salesforce, SAS and Wipro are named leaders in a quadrant.
The 2021 ISG Provider Lens ™ Retail Software and Services Report for UK is available for subscribers or for a one-time purchase at this web page.
About ISG Provider Lens ™ Research
The ISG Provider Lens ™ Quadrant research series is the only service provider assessment of its kind to combine empirical and data-driven research and market analysis with the real-world experience and observations of the advisory team. world of ISG. Companies will find a wealth of in-depth data and market analysis to help them select suitable sourcing partners, while ISG advisors will use the reports to validate their own market knowledge and make recommendations to corporate clients. ISG. The research currently covers providers offering their services around the world, in Europe, as well as in the United States, Germany, Switzerland, United Kingdom, France, the Nordic countries, Brazil and Australia / New Zealand, with additional markets to be added in the future. For more information on ISG Provider Lens research, please visit this page Web page.
A complementary research suite, the ISG Provider Lens Archetype reports, provides a unique assessment of suppliers from the perspective of specific types of buyers.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and consulting company. A trusted business partner of more than 700 customers, including more than 75 of the world’s 100 largest companies, ISG is committed to helping businesses, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The company specializes in digital transformation services including automation, cloud and data analytics; procurement advice; managed governance and risk management services; network operator services; design of strategy and operations; change management; market intelligence and technology research and analysis. Founded in 2006, and headquartered in Stamford, Connecticut, ISG employs more than 1,300 digitally ready professionals operating in more than 20 countries — a global team known for their innovative thinking, market influence, deep industrial and technological expertise. , and its world-class expertise. Industry’s most comprehensive market data-driven research and analysis capabilities. For more information visit www.isg-one.com.