(Article URL: http://www.b-eye-network.co.uk/view/)
According to an AMR Research report recently released, software spending by retailers in China, India and Russia will top $1.57B in 2010-an increase of 45% over 2007.
In addition, these retailers will increase their IT budgets an average of 25% between 2007 and 2010. Aggressive first-time spending for store technology over the next few years, especially in China, will see retailer budgets in these emerging economies far outpace those of their peers in more established countries.
"Economic growth and new consumer wealth in China, India, and Russia have driven global and local retailers to target these lucrative markets as part of their expansion strategies," explains Rob Garf, Vice President and General Manager of Retail Strategies at AMR Research. "To support growth initiatives, retailers are focusing not only on constructing new stores and hiring qualified employees, but also on building a technology architecture that, in most cases, didn't previously exist."