As consumers transform the way they search, shop and spend money, retailers have taken notice and adapted their spending. A recent survey by KPMG conducted last month showed impressive results on expected IT spending. The survey reveals the reactions of 100 Senior Retail Executives, which mirror the 3.5 trillion dollar industry. While recognizing the slim chances of an economic rebound, 47% of the retailers will increase information technology spending next year. This projection clearly demonstrates how valuable the IT sector will be in the future. KPMG’s global retail leader, Mark Larson, discusses retailers’ strategies: “What they will do to gain a competitive edge to invest in technology, add new customers and grow revenue from existing customers. Data analytics is moving far higher as a leadership agenda item with each passing day.” According to the survey, 69% of respondents consider cloud and data analytics to be a main component to their strategic planning in the coming year. “With consumer behaviour, spending and demographic profiles changing rapidly,” Larson said; “A key to success will be investing in technology to harness the vast amount of data that resides in a company. That data can drive the insights that will allow retailers to interact with consumers more effectively and capture more wallet-share.” This route will also expose new information on new markets, strategies and models that can generate greater profits. Alterations being made in the retail industry are in direct response to consumers’ accelerating adoption of technology. Retail executives recognize consumer trends, and the consequent need to increase IT investments to boost future sales.