Analyst Corner

On Demand: Retail’s Once-in-a-Generation Increase – How Winning Retailers Are Racing Ahead with IT

In the last two years we have seen a once-in-a-generation jump in IT spend. In fact, in our latest study showed that benchmarked IT spend grew as a percentage of revenue as much as 40% since the beginning of the pandemic. General Merchandise Retailers (GMS) reported that they plan to spend as much as 3% of 2021 revenues on IT for 2022. The number for Food/Drug/Convenience is 2.5% of revenue, and for Hospitality 2.8% of 2021 revenues for 2022. Each of these is significantly higher than what we saw in 2019.

The content is based on a research paper “How Winning Retailers Are Racing Ahead in IT Innovation in 2022”

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