Providers help stores and consumer brands
satisfy customers online and in person with enhanced,
personalized experiences, ISG Provider Lens™ report says
Retail and consumer packaged goods (CPG) companies in the U.S.
are recognizing the need to keep evolving in response to growing
and shifting consumer demands, new technologies and increasing
regulation, according to a new research report published today by
Information Services Group (ISG) (Nasdaq: III), a leading global
technology research and advisory firm.
The 2024 ISG Provider Lens™ Retail & CPG Services report for
the U.S. finds competitiveness in these industries requires
data-enabled agility and being able to keep both customers and
employees happy. With the growth of e-commerce, customers of every
brand consistently find new, competing options online.
“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, U.S. retail and CPG firms are
adopting integrated inventory management and order fulfillment
systems, ISG says. They are also implementing customer data
platforms that combine multiple data sources and use AI to make
recommendations. With help from extended reality (XR) consultants,
brands are using AR and VR for digital-plus-reality experiences—for
instance, virtually trying on clothing.
Fragmented data privacy laws in the U.S. are expected to cohere
into stronger national regulations on data collection, storage and
use, the report says. Enterprises are responding by adopting data
governance platforms and management services from trusted
providers. As labor regulations change, some are also using
workforce management platforms to help them adapt. Increasing
regulation of sustainability measures, such as waste reduction and
eco-friendly packaging, are increasing the use of tracking and
reporting tools.
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 U.S. retail and CPG
industry, including the rising use of robotic process automation
(RPA) and the growing importance of workforce management tools for
optimal employee scheduling.
For more insights into the challenges facing U.S. retail and CPG
companies, including transforming business practices for continuous
improvement and ensuring responsible sourcing, plus ISG’s advice on
solving them, see the ISG Provider Lens™ Focal Points briefing
here.
The 2024 ISG Provider Lens™ Retail & CPG Services report for
the U.S. evaluates the capabilities of 33 providers across four
quadrants: Business Transformation Services, Digital Innovation
Services, Platform Modernization Services and Managed Services.
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 U.S. is available to subscribers or for one-time purchase on
this webpage.
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 Europe, as well as in the U.S., Canada, Mexico,
Brazil, the U.K., France, Benelux, Germany, Switzerland, the
Nordics, Australia and Singapore/Malaysia, with additional markets
to be added in the future. For more information about ISG Provider
Lens research, please visit this webpage.
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 Stamford, Conn., ISG employs more than 1,600
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240903803346/en/
Press Contacts: Will Thoretz, ISG +1 203 517 3119
will.thoretz@isg-one.com Julianna Sheridan, Matter Communications
for ISG +1 978-518-4520 isg@matternow.com
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