IDC Canada & Retail Council of Canada Survey Finds Canadian Retailers Under Pressure to Respond to Increasingly Savvy Canadian Consumers
Capital spending is on the upswing with IT consuming a significant portion of overall investment
TORONTO, April 5, 2012 – International Data Corp Canada (IDC Canada) and Retail Council of Canada (RCC) today announced the results of their first survey of the perspectives of Canadian retail executives' on information technology (IT). The 2012 survey is part of IDC Canada and RCC's newly formed relationship to provide RCC members with Canadian specific technology research, as well as access to IDC Retail Insights' research.
Consumers are becoming increasingly savvy and are leveraging multiple channels to carry out their shopping activities including shopping not only online and in brick and mortar stores, but in all channels at once by walking the store aisles with a smart phone to compare prices, obtain the best deal, leverage coupons, and order online from another supplier in some cases. Retailers in turn, are feeling the heat -- with immense pressure to differentiate themselves based on customers experience with products and services. Retailers are also feeling the pressure to support product use with applications and infrastructure that facilitate innovation, rather than impede change.
"We are witnessing a significant shift in how Canadian consumers use technology to influence, as well as make their purchases," said Diane J. Brisebois, President & CEO RCC. "As we can see from the survey results, Canadian retailers are responding with an increased desire to enhance the consumer experience, remain competitive, and drive increased service and value by engaging with the consumer in more innovative ways."
In response to these pressures, the overwhelming trend among retailers is towards increased capital and technology spending, emphasizing activities that improve customer and employee engagement, as well as making efficient and effective use of this spending and investment.
"The quickening pace of retail innovation is becoming an increasing threat to Canadian retailers as local competition grows from global retailers and changes the expectations of Canadian consumers," said Leslie Hand, research director at IDC Retail Insights. "Canadian retailers are responding by expanding their IT investment in the face of Target's planned entrance in the Canadian market. Those with decreasing capital could fall behind if the majority of the market is investing."
Highlights from the survey include:
Canadian retail executives concur that the speed at which specific technologies are evolving, particularly at the consumer level and less so at the enterprise level, presents considerable challenges for retailers.
IDC Canada Retail Insights will be presenting highlights from this survey in addition to a more in-depth mobile survey at upcoming Canadian Retail events. Initial in-store assisted selling results to be showcased at a retailer event April 26th 2012 at the Toronto Arcadian Court. Contact IDC's Noor Manji at firstname.lastname@example.org for more information.
IDC Canada and RCC's Quick Look Web-based survey of Canadian retailers was fielded between December 2011 and January 2012.
Please contact Joanne Haywood at email@example.com to arrange an interview or for more information about the survey.
Retail Council of Canada (RCC) has been the Voice of Retail in Canada since 1963. We speak for an industry that touches the daily lives of Canadians in every corner of the country — by providing jobs, career opportunities, and by investing in communities. RCC is a not-for-profit, industry-funded association representing more than 45,000 store fronts of all retail formats across Canada, including department, specialty, discount, and independent stores, and online merchants.
RCC is a strong advocate for the Canadian retail sector and works with all levels of government and other stakeholders to support employment growth and career opportunities in retail, to promote and sustain retail investments in communities from coast-to-coast, and to enhance consumer choice and industry competitiveness. RCC also provides its members with a full range of services and programs including education and training, benchmarking and best practices, networking, advocacy, and industry information. Visit www.retailcouncil.org.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. For more than 48 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.
About IDC Retail Insights
IDC Retail Insights assists retail businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the retail industry. For more information, please visit www.idc-ri.com, Visit the IDC Retail Insights Community at http://idc-insights-community.com/retail.
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