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"Customer first" is redefining retail.
To better understand the disruptive changes in
today's retail industry, Cisco and IMD created the
Global Center for Digital Business Transformation in
Lausanne, Switzerland.
In a 5-year, $10-million partnership, the Center
uncovered several troubling findings about the
potential for disruption and about incumbents'
readiness to adapt. The study concluded that an
average of 4 of today's top 10 incumbents (in terms
of market share) in each industry will be displaced
by their competitors within the next 5 years. Cisco
and IMD coined the term "digital vortex" to describe
the resultant convergence of industries toward a
"digital center" in which business models, offerings,
and value chains are optimally digitized.
40 percent of the
top industry incumbents will
be displaced within 5 years.
The higher an industry's rank in the study, the higher
the likelihood of that industry facing widespread
disruption within 5 years.
Chapter 3
The digital vortex:
Customer-driven
disruption
Technology Products & Services
Media & Entertainment
Retail
Hospitality & Travel
CPG & Manufacturing
Healthcare
Utilities
Oil & Gas
Pharmaceuticals
Financial Services
Telecommunications
Education
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INDUSTRIES MOST
VULNERABLE TO DISRUPTION
Industries most vulnerable to disruption
