What are retailers spending the largest chunk of their IT budgets on?
Yes, you may have guessed it: the point of sale – those bulky checkout systems in the stores that shoppers would happily avoid at busy times.
It is the largest investment for 31 percent of retailers surveyed in our latest end-user study.
However, when comparing spending growth against last year, the point of sale came last in our survey, with the majority of retailers decreasing spending or budgets remaining flat. Even self-checkouts are no longer exciting enough.
So what are the innovators investing in?
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There is a major shift towards optimisation and management tools, such as workforce management and assortment optimisation, which is driven by the ability to collect more data and run breakthrough analytics, in some cases even powered by artificial intelligence.
Web development is also on the rise as retailers look to compete by using their own creations of all sorts of tools, from mobile apps to keep their customers happy, to business software that keeps costs at bay.