Fujitsu Formulates 'Fujitsu Future Insights - Digital Transformation in Retail'
TOKYO, Nov 27, 2019 - (JCN Newswire) - Fujitsu Limited today announced its vision for the future, outlining megatrends and business opportunities of retail through the analysis of the impact of digital transformation in retail. Fujitsu has compiled these insights into a report, entitled "Fujitsu Future Insights Digital Transformation in Retail."
The Fujitsu Future Insights series introduces the company's thoughts about global trends of digital transformation, providing deeper analysis of challenges and the impact of technologies in specific fields. It also introduces possible future scenarios and strategies related to those areas. In the "Digital Transformation in Retail", Fujitsu describes its vision for the future of digitalized retail services and proposes how retail and other industries will be transformed by its digital technologies.
As a digital transformation partner, Fujitsu is committed to co-creation with its customers across industries, ultimately contributing to realizing a sustainable and prosperous society.
In recent years, consumer purchasing behavior has been changing rapidly due to the prevalence of digital technologies as well as the diversification of lifestyles and sense of values in different generations. Retailers are required to understand the diverse values and offer services tailored to individual needs. Business transformation by digital technologies enables cross-industrial companies to co-create innovative solutions and services.
To respond to these trends, in this report, Fujitsu is proposing its thought about how Fujitsu's digital technologies help retailers co-create globally and drive digital transformation.
Digital Transformation in RetailDigital Transformation in Retail
Summary of the Digital Transformation in Retail
1. Megatrends in the retail industry
By investigating the status of digital transformation in the retail business, Fujitsu has identified five key factors with major impact on the industry's future:
- Changes in consumer values and behavior: Purchasing behavior is greatly influenced by the differences in generation and the ability to use digital technology
- Consumers regaining control of data: Preparing for the future where individuals control their own data
- Diversifying relationships between people and machines: Creating new value through collaboration between people and machines.
- Human-centric ecosystems: Creating new services and values by collaboration across industries
- Redefining consumption: Contributing to realize a sustainable society through retail businesses
2. Fujitsu and the future of retail
Fujitsu is transforming retail businesses under the global concept of "Connected Retail," aiming to accelerate innovation in the industry. Taking into account the industry trends, Fujitsu's connected retail initiatives focus on the following five areas:
- Connecting people: Creating new touchpoints such as on-demand suits tailoring for apparel companies
- Connecting data: Providing a trusted data exchange system using IDYX (IDentitY eXchange)(1) a digital identity exchange technology developed by Fujitsu Laboratories Ltd.
- Connecting people and machines: Helping customers use digital technology and machine to empower their employees. For example, an application of Digital Annealer, a new architecture that solves combinatorial optimization problems at high speed with digital circuits inspired by quantum phenomena, optimizes inventory allocation
- Connecting value: Providing a data platform to support a cross-industrial ecosystem using VPX(Virtual Private digital eXchange), a data distribution network technology that applies blockchain developed by Fujitsu Laboratories Ltd.
- Connecting the future: Taking actions to realize a sustainable society through co-creation with customers.
(1) IDYX (IDentitY eXchange)
DYX (IDentitY eXchange) is a digital identity exchange technology that enables companies and individual users involved in online transactions to confirm the identity of other parties in transactions.
Fujitsu is the leading Japanese information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. Approximately 132,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (Code: 6702) reported consolidated revenues of 4.0 trillion yen (US $36 billion) for the fiscal year ended March 31, 2019. For more information, please see www.fujitsu.com.
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About Fujitsu Ltd
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 130,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.9 trillion yen (US$35 billion) for the fiscal year ended March 31, 2020. For more information, please see www.fujitsu.com.
Source: Fujitsu Ltd
Sectors: Retail/eCommerce, Enterprise IT
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