Australian Retailers To Spend $1.6B On IT In 2017
Australian retailer IT spending is expected to reach US$1.24 billion ($1.6 billion) in 2017, as local retailers invest more in technology to remain competitive.
According to data from IDC, retailers in Australia will be among the highest IT spenders in the Asia Pacific region this year, second only to China. Common investments include new customer-facing technologies, smartphone app development, cloud infrastructure and redesigning stores to act as fulfillment centres for online purchases.
“Despite ICT budget constraints, Australian retailers understand and appreciate the long-term benefits offered by cloud, mobility and particularly, big data. This shows that they are committed to operating at their highest potential,” said IDC’s industry analyst Jaideep Thyagarajan.
“Competition from international players has significantly increased in the last 6-12 months and retailers are intensely exploring opportunities to reposition themselves to improve customer loyalty and prevent loss of market share.”
The IDC Retail Insights survey identified “operational excellence, exploiting new markets and customer engagement” as the top 3 priorities of businesses in the Asia Pacific region, and are some of the driving forces behind IT spending growth by retailers.