Retail IT Spending Expected to Increase in 2004By Channel Insider Staff | Print
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The National Retail Federation ended its national convention on the heady news that IT spending is expected to rise in 2004 and a major grocer announces a new supply chain initiative.On the last day of its annual convention in New York, the National Retail Federation released a new study that shows retailers expect to increase IT spending in 2004.
Eighty three percent of more than 100 retailers surveyed expect to replace or upgrade point of sale systems this year, according to Retail Horizons: Benchmarks for 2003, Forecast for 2004, a report conducted by the National Retail Federation Foundation (NRFF) and BearingPoint, Inc.
"As the competition increases, retailers need to figure out how they can differentiate even more," said Scott Hardy, a managing director with BearingPoint's Retail/Wholesale practice. "Retailers are looking to POS in 2004 to provide real-time information to have a better understanding of the customer."
Retail Horizons: Benchmarks for 2003, Forecast for 2004 is the second annual survey conducted by the NRFF. It examines store and field operations, supply chain, customer relationship management, merchandising, advertising, human capital, information technology and marketing issues.
The National Retail Federation is the world's largest retail trade association, representing more than 1.4 million retail establishments in the United States. The NRFF is its research arm. BearingPoint is a business consulting, systems integration and managed services firm.
The full study is available from the NRF Bookstore.