Retailers must move faster on digital transformation projects

58% of retailers are being held back from digital transformation by budget restrictions, according to research from Vanson Bourne and Boomi.

This involved more than 1,200 IT decision makers and business decision makers from 19 countries across North America, EMEA, and Asia Pacific, covering eight sectors.

94% of retailers are actively modernising, but 40% are in the early stages of rolling this out, higher than any other sector. 59% are prioritising IT enterprise architecture in their initiatives, with cloud adoption at 55%.

Alongside budget as a main challenge to modernisation is technical knowledge (58%). The leading benefits, meanwhile, are improved customer experiences, 49%, and revenue growth, 48%.

“The next decade will undergo an even more rapid pace of change than the 2000s and 2010s,” says Chris Port, Chief Operating Officer at Boomi.

“Though modernisation, transformation, and innovation have paid dividends in recent years, organisations can’t afford to rest on their laurels. Especially now. Not when business priorities, drivers of change, and technology needs are rapidly converging, as reflected in this survey.”

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