Retailers' Priorities and Challenges in 2024
41% of IT leaders prioritize cost reduction as their top priority for 2024. Only 1% of IT leaders consider their company a digital leader, with 45% stating their processes are complex, manual, or built on legacy infrastructure. Retailers prioritize email, mobile app, and web as their top channels for personalization. Budget constraints, customer privacy concerns, and unusable tech are the biggest challenges for IT leaders.
If you would like to learn more about Retailers' Priorities and Challenges then this white Paper is for you:
- Survey conducted by Censuswide in November 2023, surveyed 400 senior IT & tech leaders in B2C retail companies with annual revenue of USD 50mil+.
- Company turnover ranged from $50 million to $99.99 million, with a turnover of $100 million to $199.99 million.
- Top 5 priorities for companies were enhancing employee efficiency, reducing costs, boosting customer retention, reducing developer dependency, increasing average order size, improving tech stack scalability, enhancing customer experience, reducing customer acquisition costs, and reducing technical debt.
- Additional tooling like Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Software Composition Analysis (SCA), and developer-friendly workflow tools are needed.
- Increasing employee efficiency: Top company-wide priority, followed by customer retention and average order size.
- Increasing customer retention: Top priority for IT leaders within their departments.
- Only 1% of respondents considered their company a digital leader, with 45% stating their processes are convoluted, manual, or built on legacy infrastructure.
- The UK had the highest share of respondents who considered their companies digital laggards, with 24%.
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