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European retailers are in the process of modernizing their IT systems to adapt to changing consumer behavior in the wake of the COVID-19 pandemic, but they are still lagging behind retailers in the US and elsewhere. That is the conclusion of a new market research report, published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and consultancy firm.
The ISG Provider Lens Retail Services 2022 report for Europe and the UK shows that companies in the region are undergoing a digital transformation to support the growing use of e-commerce and the search for multi-channel purchasing experiences. The region continues to lag behind markets such as the US and China, with retailers in Northern and Western Europe making faster progress than markets in Eastern Europe, ISG said.
“The number of European retailers introducing new distribution channels is growing and we expect this trend to accelerate,” said Sunder Pillai, director and leader of Retail & CPG at ISG. “Service providers support companies in creating a unified purchasing experience across all channels.
According to the report, the food, fashion and apparel sectors are the most aggressive in adopting new retail technologies. Digital transformation enables retailers to introduce new, popular shopping experiences that include social trading, voice trading, curb pickup and home delivery. European retailers are also modernizing the technology they use in their traditional stores, where customers are increasingly returning to anticipate new features such as cashless and point-of-sale purchases.
As robust supply chains are a prerequisite for digital transformation and a unified customer experience, retailers are working with service providers to integrate supply chain systems that allow information to flow freely, said ISG. There are fewer warehouses and distribution centers in Europe than in other regions. Hence, service providers help sellers to use their stores as mini digital order fulfillment centers.
In addition, the growth of digital business generates an unprecedented amount of localized data about customer behavior and preferences. Sellers aggregate this information on structured data platforms that enable them to create a unique profile for each customer.
“With the help of service providers, companies can create personalized marketing campaigns that increase customer loyalty,” said Jan Erik Aase, partner and global leader at ISG Provider Lens Research.
The report also looks at other trends in European retailers, including cloud migration and record growth in managed services deployment.
The ISG Provider Lens Retail Services 2022 report for Europe and the UK evaluates the range of services offered by 23 vendors in three quadrants: CX Transformation Services, Platform Migration Services and Managed Services.
The report lists Accenture, Capgemini, Cognizant, HCL, Infosys, TCS and Wipro as leaders in all three quadrants.
ISG Provider Lens Retail Services 2022 Europe & UK report is available for subscription or one-time purchase on this website.
Information on ISG lenses
The ISG Provider Lens Quadrant series is a one-of-a-kind vendor comparison that combines empirical, data-driven research and market analysis with real-world experiences and observations from ISG’s global consulting team. Companies receive a wealth of detailed data and market analysis to help them choose the right sourcing partners. On the other hand, ISG consultants use the reports to test their own knowledge of the market and advise ISG’s business clients. The study now includes suppliers that operate worldwide, especially across Europe, as well as the US, Canada, Brazil, UK, France, Benelux, Germany, Switzerland, Scandinavia, Australia, and Singapore / Malaysia. Other markets will be added in the future. More information on ISG Provider Lens research is available on this page.
The accompanying series of studies, ISG Provider Lens Archetype Reports, is the first of its kind to assess suppliers from the perspective of specific customer segments.
About the Information Services Group (ISG)
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and consulting company. As a trusted business partner for more than 800 customers, including more than 75 of the world’s 100 largest companies, ISG helps enterprises, public sector organizations, and service and technology providers achieve operational excellence and accelerate growth. The company focuses on digital transformation services, including automation, cloud and data analysis, sourcing consulting, management and risk management services, network operator services, technology strategy and operations planning, change management, and market analysis and technology research and development. -analysis. Founded in 2006, ISG is headquartered in Stamford, Connecticut. More than 1,300 digitally experienced experts currently work for ISG in more than 20 countries. ISG’s global team is known for innovative thinking, market impact, deep industry and technology knowledge, and world-leading market research and analysis capabilities, built on the most comprehensive market data in the industry. For more information, visit www.isg-one.com.
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