U.S. Retailers Meet New Demands With Data, Cloud Services
The 2024 ISG Provider Lens™ Retail & CPG Services report highlights the evolving landscape of U.S. retail and consumer packaged goods (CPG) industries. Key findings include:
1. Companies are adopting data-driven strategies and cloud services to enhance customer experiences and operational efficiency.
2. Integrated inventory management and AI-powered customer data platforms are being implemented to meet consumer demands for seamless shopping experiences.
3. Extended reality (XR) technologies are being used to create innovative digital-plus-reality experiences.
4. Firms are preparing for stricter data privacy regulations by adopting governance platforms and management services.
5. Automation and generative AI are boosting efficiency while companies maintain human touch where necessary.
The report evaluates 33 providers across four quadrants, naming several as Leaders in various categories.
Il report 2024 ISG Provider Lens™ sui servizi Retail e CPG evidenzia l'evoluzione del panorama delle industrie americane del retail e dei beni di consumo confezionati (CPG). I risultati chiave includono:
1. Le aziende stanno adottando strategie basate sui dati e servizi cloud per migliorare l'esperienza dei clienti e l'efficienza operativa.
2. La gestione integrata dell'inventario e le piattaforme di dati sui clienti potenziate dall'IA vengono implementate per soddisfare le richieste dei consumatori di esperienze di acquisto senza interruzioni.
3. Le tecnologie di realtà estesa (XR) vengono utilizzate per creare esperienze digitali e reali innovative.
4. Le aziende si stanno preparando per regolamentazioni più rigorose sulla privacy dei dati, adottando piattaforme di governance e servizi di gestione.
5. L'automazione e l'IA generativa stanno aumentando l'efficienza mentre le aziende mantengono un tocco umano dove necessario.
Il report valuta 33 fornitori in quattro quadranti, nominando diversi come Leader in varie categorie.
El informe 2024 ISG Provider Lens™ sobre servicios de Retail y CPG destaca el panorama en evolución de las industrias de retail y productos de consumo empaquetados (CPG) en EE. UU. Los hallazgos clave incluyen:
1. Las empresas están adoptando estrategias basadas en datos y servicios en la nube para mejorar la experiencia del cliente y la eficiencia operativa.
2. La gestión integrada de inventarios y las plataformas de datos de clientes potenciadas por IA se están implementando para cumplir con la demanda de los consumidores de experiencias de compra sin interrupciones.
3. Las tecnologías de realidad extendida (XR) se están utilizando para crear experiencias digitales e interactivas innovadoras.
4. Las empresas se están preparando para regulaciones de privacidad de datos más estrictas adoptando plataformas de gobernanza y servicios de gestión.
5. La automatización y la IA generativa están mejorando la eficiencia mientras que las empresas mantienen un toque humano donde es necesario.
El informe evalúa a 33 proveedores en cuatro cuadrantes, nombrando a varios como Líderes en diversas categorías.
2024 ISG Provider Lens™ 소매 및 CPG 서비스 보고서는 미국의 소매 및 소비자 포장 상품(CPG) 산업의 진화하는 풍경을 강조합니다. 주요 발견은 다음과 같습니다:
1. 기업들은 고객 경험과 운영 효율성을 향상시키기 위해 데이터 기반 전략과 클라우드 서비스를 채택하고 있습니다.
2. 통합 재고 관리와 AI 기반 고객 데이터 플랫폼이 소비자 요구에 부응하기 위해 원활한 쇼핑 경험을 제공하기 위해 구현되고 있습니다.
3. 확장 현실(XR) 기술이 혁신적인 디지털-현실 경험을 창출하는 데 사용되고 있습니다.
4. 기업들은 더 엄격한 데이터 프라이버시 규정에 대비하여 거버넌스 플랫폼 및 관리 서비스를 채택하고 있습니다.
5. 자동화 및 생성적 AI는 효율성을 높이면서도 필요한 경우 인간적인 접촉을 유지합니다.
이 보고서는 네 개의 구역에서 33개의 공급자를 평가하고 여러 개를 다양한 범주에서 리더로 지정하고 있습니다.
Le rapport 2024 ISG Provider Lens™ sur les services Retail et CPG met en avant l'évolution du paysage des industries de détail et des biens de consommation emballés (CPG) aux États-Unis. Les principales conclusions incluent :
1. Les entreprises adoptent des stratégies basées sur les données et des services cloud pour améliorer l'expérience client et l'efficacité opérationnelle.
2. La gestion intégrée des stocks et les plateformes de données clients alimentées par l'IA sont mises en œuvre pour répondre aux attentes des consommateurs concernant des expériences d'achat fluides.
3. Les technologies de réalité étendue (XR) sont utilisées pour créer des expériences innovantes à la croisée du numérique et de la réalité.
4. Les entreprises se préparent à des réglementations sur la confidentialité des données plus strictes en adoptant des plateformes de gouvernance et des services de gestion.
5. L'automatisation et l'IA générative améliorent l'efficacité tout en maintenant un contact humain lorsque cela est nécessaire.
Le rapport évalue 33 fournisseurs dans quatre catégories, en désignant plusieurs d'entre eux comme leaders.
Der Bericht 2024 ISG Provider Lens™ über Retail- und CPG-Dienste hebt die sich entwickelnde Landschaft der US-amerikanischen Einzelhandels- und Konsumgüterindustrie (CPG) hervor. Wesentliche Erkenntnisse umfassen:
1. Unternehmen übernehmen datenbasierte Strategien und Cloud-Dienste, um das Kundenerlebnis und die betriebliche Effizienz zu verbessern.
2. Integriertes Bestandsmanagement und KI-gestützte Kundendatenplattformen werden implementiert, um den Verbraucherwünschen nach nahtlosen Einkaufserlebnissen gerecht zu werden.
3. Erweiterte Realität (XR) Technologien werden eingesetzt, um innovative digitale und reale Erlebnisse zu schaffen.
4. Unternehmen bereiten sich auf strengere Datenschutzvorschriften vor, indem sie Governance-Plattformen und Management-Dienste übernehmen.
5. Automatisierung und generative KI steigern die Effizienz, während die Unternehmen dort, wo es notwendig ist, den menschlichen Kontakt aufrechterhalten.
Der Bericht bewertet 33 Anbieter in vier Quadranten und nennt mehrere als Führer in verschiedenen Kategorien.
- ISG report identifies growing adoption of data-driven strategies and cloud services in retail and CPG sectors
- Companies implementing AI-powered customer data platforms for personalized experiences
- Extended reality (XR) technologies being used for innovative shopping experiences
- Automation and generative AI boosting operational efficiency
- Fragmented data privacy laws in the U.S. creating regulatory challenges for companies
- Changing consumer behavior and evolving mix of online and brick-and-mortar outlets causing market uncertainty
- Increasing regulation on sustainability measures requiring new tracking and reporting tools
Insights
The retail and CPG landscape is undergoing significant transformation, driven by evolving consumer demands and technological advancements. This shift presents both opportunities and challenges for industry players. Key trends include:
- Increased focus on data-driven strategies and cloud adoption for enhanced agility and cost savings
- Implementation of integrated inventory management and order fulfillment systems for seamless omnichannel experiences
- Adoption of customer data platforms leveraging AI for personalized recommendations
- Exploration of extended reality (XR) technologies for innovative shopping experiences
These developments indicate a positive outlook for tech-savvy retailers and CPG companies that can adapt quickly. However, challenges such as data privacy regulations and the need for workforce upskilling may pose short-term hurdles. The industry's embrace of automation and GenAI suggests a long-term shift towards more efficient operations, potentially reshaping the competitive landscape.
The technological transformation in retail and CPG is accelerating, with cloud services and data analytics at the forefront. This shift is important for companies to remain competitive in an increasingly digital marketplace. Key technological advancements include:
- Cloud migration for scalability and cost optimization
- AI-powered customer data platforms for hyper-personalization
- AR/VR integration for enhanced shopping experiences
- Robotic process automation (RPA) for operational efficiency
- Generative AI exploration for various business applications
These technologies are not just enhancing customer experiences but also optimizing backend operations. The adoption of workforce management tools and learning management systems indicates a holistic approach to digital transformation, addressing both customer-facing and internal processes. This comprehensive tech integration positions forward-thinking companies for long-term success in the evolving retail landscape.
The retail and CPG sectors are facing a complex regulatory landscape, particularly in data privacy and sustainability. Key legal considerations include:
- Anticipated consolidation of fragmented U.S. data privacy laws into stronger national regulations
- Increasing focus on data governance and management to ensure compliance
- Evolving labor regulations necessitating adaptive workforce management strategies
- Growing sustainability regulations, particularly in waste reduction and eco-friendly packaging
These regulatory changes are driving companies to invest in data governance platforms and management services from trusted providers. The trend towards stricter regulations may initially pose challenges, but it also creates opportunities for companies to differentiate themselves through robust compliance measures and sustainable practices. Long-term, this regulatory evolution could lead to a more transparent and environmentally responsible retail and CPG industry, potentially benefiting companies that proactively adapt to these changes.
Providers help stores and consumer brands satisfy customers online and in person
with enhanced, personalized experiences, ISG Provider Lens™ report says
The 2024 ISG Provider Lens™ Retail & CPG Services report for the
“Retail and consumer products companies are finding that comprehensive, customer-centric strategies are essential,” said Sunder Pillai, ISG Retail & CPG practice leader. “They are partnering with providers to plan and execute these strategies while controlling costs.”
Following pandemic-era disruptions, the mix of online and brick-and-mortar outlets continues to change and consumer behavior is still evolving, the report says. Companies need more data, with better analysis, to accurately monitor and predict demand and inventory and personalize customer experiences. Changing business requirements are driving companies to the cloud for both scale and cost savings.
To meet consumer demands for seamless experiences spanning online and in-store shopping,
Fragmented data privacy laws in the
Automation is boosting the efficiency of retail and CPG operations through tools such as robotic warehouse assistants and generative AI (GenAI), but companies are taking steps to maintain the human touch where necessary, ISG says. With learning management systems, some are helping employees develop skills for the new environment.
“GenAI is part of every conversation about the future of retail,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Companies seek providers to help them determine how GenAI will ultimately benefit their business.”
The report also explores other trends in the
For more insights into the challenges facing
The 2024 ISG Provider Lens™ Retail & CPG Services report for the
The report names Accenture, Capgemini, Cognizant, Deloitte, HCLTech, Infosys, KPMG, TCS and Wipro as Leaders in all four quadrants. It names IBM and Kyndryl as Leaders in two quadrants. LTIMindtree is named as a Leader in one quadrant.
In addition, LTIMindtree is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in three quadrants. UST is named as a Rising Star in two quadrants. Genpact and Sutherland are named as Rising Stars in one quadrant each.
In the area of customer experience, HCLTech is named the global ISG CX Star Performer for 2024 among Retail & CPG Services providers. HCLTech earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.
The 2024 ISG Provider Lens™ Retail & CPG Services report for the
About ISG Provider Lens™ Research
The ISG Provider Lens™ 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
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s 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 AI and 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
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Julianna Sheridan, Matter Communications for ISG
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Source: Information Services Group, Inc.
FAQ
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