We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Survey: Just three percent of retailers have completed digital transformation projects
newsworthy

Survey: Just three percent of retailers have completed digital transformation projects

January 17, 2018
Ben Ames
No Comments

Retailers have high expectations for the potential of digital transformation to boost their revenues, but only three percent of companies have completed companywide projects to reach that goal, according to the results of a survey released Monday at the National Retail Federation (NRF)'s annual convention and expo.

The bulk of retailers investing in digital transformation have only begun the process, with 22 percent still in the planning stage, 55 percent running pilot programs, and 19 percent saying they have completed projects in some areas of the business but not others, the survey sponsored by German software vendor SAP SE and conducted by the U.K.-based market forecasting firm Oxford Economics shows.

The most common digital transformation projects span the areas of big data and analytics, the internet of things (IoT), and machine learning, respondents said in The SAP Digital Transformation Executive Study, a survey of 3,171 executives from 17 countries conducted between January and May of 2017.

Companies investing in those technologies have high expectations for the results, with 50 percent of midsize retail companies and 44 percent of large retail companies saying they expect their revenue be 5 to 10 percent higher next year due to digital transformation projects now underway, the study found.

Companies will also judge the success of their digital transformation efforts by their ability to reduce costs and increase efficiency in areas such as returns and reverse logistics, inventory planning, and click-and-collect or buy-online-pickup-in-store (BOPIS), Achim Schneider, the global head of SAP's Retail Business Unit, said in an interview.

"The digital supply chain is becoming more important, because companies are realizing that the supply chain extends all the way to the end consumer, not just to the store," Schneider said. "Retailers are asking 'What can we do to improve this scenario?' so they can avoid the cost of handling massive amounts of returns, or balance brick-and-mortar inventory with online sales."

Technology
KEYWORDS National Retail Federation SAP
  • Related Articles

    Survey: consumer products firms wasting 60 percent of their money in digital transformation push

    Survey: 63 percent of omnichannel retailers plan to upgrade merchandise planning software

    Survey: retailers have failed to improve last-mile delivery for customers

  • Related Events

    DigiMarCon East 2021 - Digital Marketing, Media and Advertising Conference & Exhibition

Benames
Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide "Hiking Massachusetts" and is a graduate of the Columbia School of Journalism.

Recent Articles by Ben Ames

Amazon licenses walk-through store technology to retailers

Conveyor company fought time and weather to open new factory

Reimagining the TMS for the age of e-commerce

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Relaxed regulations for drone parcel delivery to take effect in March

  • IBM survey says digitalization trends will sweep trucking industry by 2030

  • Gartner survey signals increased investment in resilience over the next two years

  • What Level of Automation is Right for Your Warehouse?

  • Old Dominion adds nine freight service centers to handle business growth

Now Playing on DCV-TV

D92f0dd1 a98c 434a 9e17 30b63ee72c90

Automated Pack-out and Print-Apply System for thredUP

DCV-TV 4: Viewer Contributed
SilMan Industries designed and implemented a mixed polybag-carton system, including automated print and apply, in a new regional Fulfillment Center for thredUP, one of the world’s largest online resale platforms for women’s and kids’ apparel, shoes, and accessories. The Situation Secondhand clothing and online...

FEATURED WHITE PAPERS

  • Time to rethink your lift truck power

  • Warehouse Management System Project Toolkit

  • Solving Talent Management Challenges Now and In the Future

  • Shaping Up Last Mile Delivery to Surpass Customer Expectations

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing