Zinnov Zones rating for Digital in Retail. The report provides a snapshot of a digitally enabled modern retail enterprise and how digital technologies such as big data, analytics, robotics, machine learning, virtual reality etc. are transforming operations as well as impacting customers’ experience. Zinnov estimates a total digital spending of ~ $70B by retailers globally in 2016; with the market expected to reach $150B by 2020, growing at over 20% per annum.

1. Zinnov Zones 2016
Retail Digital Services
December 2016

2. 2
Agenda
About Zinnov
Retail Digital Transformation Landscape
Zinnov Zones Ratings for Digital Services in Retail

3. 3
Introducing Zinnov
Zinnov
Global Engineering
Excellence
Enterprise Digital
Transformation
GEIP – Global
Engineering
Insights Platform
Innovation
Enablement
Zinnov Zones
Ratings
Telecom &
Networking
Consumer
Electronics &
Semiconductor
BFSI Retail
14Years 200 Customers 160Consultants 6 Offices
Offerings
Government and Industry bodies
• Center for Scientific and
Industrial Research
• National Institute of
Smart Government
• Ministry of Small and
Medium Enterprise
• Department of Science and
Technology
• NASSCOM
Tech Platforms &
Internet
Solutions
Industrial
Service Providers
| Vendors

4. 4
Agenda
About Zinnov
Retail Digital Transformation Landscape
Zinnov Zones Ratings for Digital Services in Retail

5. Advent of millennial consumers, advancement of digital tech and disruption
by digital natives is forcing the retail industry to transform digitally
Rise of the
millennial consumer
Widespread
adoption of digital
technology
Booming growth of
e-commerce
Evolution of
disruptive retail
models
Rising economic
pressure on retailers
Increasing
competition from
tech firms
DIGITAL RETAIL
EXPERIENCE
$ 200 Bn
Expected spend by millennial
consumers in US in 2017
Rapid decline in
technology costs
along with growth
in skilled workforce
New models such as Amazon
Go, Retail Lockers, Virtual
Stores are disrupting the way
consumers shop
~24%
Growth in global ecommerce
sales expected in 2016 to
reach ~ USD 2 Tn
4/5
Largest US tech companies* (Apple,
Microsoft, Amazon, Alphabet) have
retail presence today
~15
Top US retailers are
closing stores with rising
costs & stagnant sales
* in terms of market capitalisation (incidentally also the biggest companies overall)Source: Forbes, eMarketer, clark.com

6. 6
Digital technologies are completely transforming a
customer’s experience across all retail touchpoints
1 2 4
8 7 6 5
Socially Influenced
Buyer
Brands influencing
purchasing behaviour
through social media and
increasing social buying
decisions
Online Shopping
Experience
Online commerce/mobile
apps for anytime-anywhere
shopping with custom
recommendations, user
reviews, etc.
Mobile-led In-store
Shopping
Smartphones to assist the
physical store shopping
experience with dedicated
mobile apps & other
solutions
In-store customer
experiences with modern
technologies such as
virtual mirrors, etc.
Immersive
shopping
Social platforms; Mobility; AnalyticsCommerce platforms; AnalyticsMobility; IoT, NFC, Bluetooth
AR/VR
Robotic Store
Assistants
Robots at stores replacing
store/sales executives to
meet and greet, guide, and
recommend shoppers
Robotics, NLP/NLG, ML
On-demand 3D
Printed Products
3D printing of
personalized/ custom
products, out of
production parts,
cloning items, etc.
Additive Manufacturing
New-age Checkout
Systems
“Just walk out” by Amazon Go
(no check out required); Self-
checkout digital payment
kiosks; scan-as-you-shop
mobile apps
AI, ML, Payment Systems
Next-gen After
Sales Support
Delivery fulfilment of
unavailable items at
stores, digitized
receipts and loyalty
integration, etc.
Mobility; Analytics
3
Digital Transformation in Customer Experience in Modern Retail

7. 7
Modern retail operations have become smarter, data driven, and
connected owing to digital enablement across multiple use cases
Supplier Warehouse Store Front Customer
Demand Fulfilment
Demand Generation
Data Driven Decision Making Connected Warehouse Smart Logistics
Big Data, Advanced Analytics IoT, Telematics, DronesRobotics, Automation, IoT
• Production planning based on real
time sales data
• Lean inventory planning for
optimum resource utilization
• Merchandising planning to ensure
best product mix and placement
• RFID for contactless identification
and tracking of products inside
warehouse
• RTLS for identification and
navigation inside warehouse
• Robotics technologies for
automated warehouse operations
• Real time fleet tracking to manage
product delivery as well as optimize
routes
• Tracking inventory condition during
transportation to ensure safety of
products
• Usage of drones for automated
delivery of products to end
customers
Digital Transformation in Retail Operations

8. 8
With 4x growth compared to the overall industry, online
commerce has become a core focus area for retailers globally
Retail sales from online channels are growing rapidly forcing all major retailers to open their own ecommerce business or
begin the process for the same, amidst increasing pressure from smaller rivals and tech-driven companies such as Amazon
0
20
40
60
80
100
120
140
160
180
200
Walmart Costco Krogers Amazon Home Depot Target Lowe's Best Buy TJX* Macy's
Revenue(USDBn)
Share of Ecommerce Sales within Top 10 US Retailers*
Ecommerce Sales In-Store Sales
113 16
10%
24%
0%
5%
10%
15%
20%
25%
30%
0
20
40
60
80
100
120
Top 10 Retailers Other Fortune 500
Retailers**
%EcommerceRevenue
Revenue(USDBn)
Average Total Revenue % Ecommerce Revenue
Vs.
Global Ecommerce sales
expected in (2016) $1.9 Tn Growth Rate (2016) 23.7%
Global Retail sales
expected in (2016) $22 Tn Growth Rate (2016) 6.0%
While 100% of Top 10 US retailers had ecommerce presence in 2015, a few are still not generating a significant chunk
of their revenue through the mode
Notes- *Top 10 retailers on the basis of Fortune 500 rankings for the year 2015, sorted by total revenue; ** Sample set of 5 retailers taken for Other Fortune 500 retailers- Staples, Kohls, Nordstrom, JCPenney and Sears
+ For Amazon, non e-commerce sales comprise of multiple other revenue streams
In contrast, share of online revenue for other Fortune 500
Retailers is 2.4x of Top 10 retailers signifying high competition
in online channels
100% of Top 10 US retailers have
ecommerce presence in 2015
Share of Ecommerce Revenue by company size2.8%
3.9% 0.5% 73.8%
4.9% 3.4%
2.7%
9.5%
1.0%
15.2%
X% Share of online commerce
in overall sales
+

9. 9
Increasing number of retailers leveraging digital technologies
such as mobility, big data, IoT across digital use cases
Focus on building a cloud-based
platform for performing
merchandising and supply chain
functions for e-commerce and
retail
Partnering with DS Co to improve
supply chain and marketing
efficiency via drop shipping
Kohls’ Pay is powered in
partnership with the contextual
commerce platform OmnyPay
Partnership to deliver a digital in-
store shopping experience using
the StoreMode™ platform
Partnered to launch their chatbot on
Kik platform enabling AI based
conversation commerce for shoppers
Tesco partners with Tableau to
leverage big data & predictive
analytics in real time for driving sales
Partnership to deploy the QueVision
platform for intelligent queue
management through IoT
Partnership focuses on using RFID
based IoT technology for inventory
management & shrink reduction
Leveraging Marxent’s
VisualCommerce platform in its
Holoroom offering
Partnership allowed Alibaba
customers shop in Macy’s New York
store via virtual reality platform
Online Commerce
• Build ecommerce platforms
• Simplify retail workflows
• Gain access to real-time data
from remote locations
• Improve SCM efficiency and
inventory management
Mobility
• Build mobile payment platform
• Deliver seamless shopping
experience in store & online
• Enable shopping on the go
through mobile apps
• Targeted marketing
Cognitive/AI and
Analytics
• Leverage data in real time to
drive decision making
• Creating single customer view
across orgs
• AI powered concierge and
chatbots to simplify shopping
Internet of Things
• Inventory tracking to reduce
shrinkage
• Proximity targeting through
beacons technology
• Intelligent Queue management
systems & smart shelfs
AR/VR
• Help customers view how their
goods will look in practical use
before buying them
• Providing in-store shopping
experience online
• Information dissemination
Retailers are leveraging partnerships with companies in Mobile, Big Data, IoT and other digital domains to build
new age services and offerings for customers as well as improve back-end operations

10. 10
Retailers are increasingly partnering with digital natives to
innovate and manage digital disruptions
Hybrid cloud-based Point-of-Sale
system for retail establishments
Omni channel price tracking and price
management solutions
Provides solutions for web stores,
fulfilment, and marketing
Provides platform for proximity-based
indoor mobile marketing
Helps deliver Omni-channel
personalised marketing campaigns
45% CAGR
Growth in number of
start-ups
Social marketing platform
enabling firms to engage customers
Retail Digital Native Landscape
Cumulative Funding and Growth
Illustrative Snapshot of Engagement
of Retailers with Digital Natives
Source: Mattermark, Zinnov Analysis
Retail clientsCompany name Brief description
84 268 375 534 892 1043 1142 1193 1210 1260 1320
3 4 6
17
37
49
63
73
80
86
95
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 ( E )
Cumulative Funding (in USD Mn) Cumulative number of startups

11. 11
Retailers focus on digital transformation is clearly evident
from their endeavours to innovate through digital labs
Source: News articles, company websites, Zinnov analysis
31%
16% 16%
13% 13%
6% 6%
Mobility Big Data & Analytics AR/ VR Payment Services Connected Devices Robotics 3D printing
Mobile App
(Eg. Cartwheel app
by Target)
Interconnection of
devices
Mobile Website
Development
Predictive Analytics
for forecasting
ML assisted product
recommendation
Search Analytics
platform
Web Analytics for
product discovery
Window displays
(Sephora display
female founders
stories in stores)
Product
Virtualization
(Holoroom by
Lowe’s)
Payment platforms
& wallet
Integration of
payment gateways
Loyalty & Reward
programs
Using Beacon tech
for personalized
notification
RFID technology
Smart Shelves
Robo Advisors
(OSHbots by Lowe’s)
Inventory Mgmt.
(Kiva robots in
Amazon)
Product
Customization
3D scanning
Illustrative examples
Technology Focus of Digital Labs
Retailers are leveraging digital labs for their continued investment into Digital labs are helping retailers develop in-house
capabilities for cutting edge technologies to carve new digital experiences for their customer base
In order to derive maximum benefits from these initiatives leading retailers are appointing C-level
executives such as Chief Digital Officer, Chief Innovation Officer or the recently trending COCO
(Chief Omni-Channel Officer) to lead Digital labs and Omni-channel initiatives within their firms,
which otherwise fall under the ambit of CMO (Omnichannel, Digital channel) or CTO (New tech)
Forbes 500 traditional retailers have started creating new senior
leadership positions to drive digital initiatives
Who are leading these initiatives?
Chief Omni-Channel
Officer
Head, Digital &
E-commerce
Exec Director,
Innovation
Chief Digital Officer

12. Segmentation of Outsourced
Services Demand by Geography
12
In line with the growing digital focus, retailers invested nearly
$70 Bn across digital transformation initiatives in 2016
Total Digital Spending (2016)
USD 70 Bn
Spending on Services (2016)
USD 35 Bn
Services Outsourced (2016)
USD 4.8 Bn
(USD 12.4 Bn in 2020, at 27% CAGR)
63
126
6
23
2016 2020
Digital Enablement Enterprise Digital Transformation
North
America,
69%
Europe,
21%
Asia,
6%
Rest of
World,
4%
Digital Spending in Retail Vertical
(in USD Bn)

13. 13
Retail digital services market is moderately consolidated
with sizeable share of smaller providers
No. of Service Providers in decreasing order of revenues
Market Share Analysis of Retail Digital Service Providers
0%
2%
4%
6%
8%
10%
12%
%ageshareofoutsourcingmarket
10 3020 40 50 60 70 80 90 100
Next 5 – 12%
Top 5 – 53%
Remaining – 19%
Next 20 – 16%

14. In Store Customer
Experience
Store
Operations
Merchandising
8%
13%
14%
Marketing &
Sales
Supply Chain
Management
16%19%
Online
Commerce
29%
14
Online Commerce and Marketing and Sales together
comprise about 50% share in digital retail outsourcing spend
Total - USD 4.8 Bn
Segmentation of Outsourced Digital Spend by
Retail Sub Service Segments – 2016
Categorization of Retail Functions and Digital Focus – by share of customers
Marketing Analytics
Digital Campaigns &
Promotions
Inventory Planning and
Sourcing
Automated Warehouse
Mgmt.
Transportation &
Distribution
In-store Behaviour
Analytics
360 Customer View Cashless Payments
Online Commerce Web and mobile analytics
Visual Merchandising
Pricing Engines Recommendation Engines
Inventory Tracking &
Replenishment
Personalisation
Consumer Loyalty Analytics
Digital Content
Management
Omnichannel Services
Sensor based Inventory
tracking
Smart Shelves
Connected Customer Shopping Cart Analysis
Proximity Marketing
Automated Queue
Management System
Automated Content
Centers
Location Based Services Assortment Planning Digital Kiosks
Social Media Marketing Sentiment Analysis Anti-Shrinkage systems
Workforce Planning
Endless Aisles Immersive Experience Virtual Trial Rooms Shop-floor Analytics
Increasing Focus of Retailers across Digital Use Cases

15. 15
Application engineering and platform integration top digital
focus of retailers
36%
27%
16%
15%
6%
Segmentation of Outsourced Retail Digital Spend - by
Service Lines
Top Digital Focus Areas – by Service Lines
Digital Application Engineering
Digital Platform Integration
Design and Experience
Data Management and Analytics
Digital Consulting Services
 Customer service apps (in store navigation, shopping list, carts) 
Gamified experience for store associates  Logistics and delivery apps
 Online commerce platforms (Shopify, Hybris, ATG)  Back end
integration of marketing products such as Sitecore and Endeca with CRM
platforms  Legacy Integration
 UI development of online commerce portals  Design of solutions for
customer experience in store (virtual walls, interactive displays)  PoS
engagement
 Customer sentiment analysis  Customer behavior  Pricing and
markdowns  Inventory planning  Personalized marketing  Logistics and
transportation analytics
 Omni-channel strategy  Supply chain management  Merchandising
management  Retail benchmarking  Strategy consulting
Digital Application
Engineering
Digital Platform
Integration
Design and
Experience
Data Management
and Analytics
Digital Consulting
Services

16. 16
Overall account sizes in retail digital services are lower than traditional IT
services with engagements requiring significant retail domain expertise
< USD 1 Mn
USD 1-2 Mn
USD 2-5 Mn
> USD 5 Mn
REAL WORLD DEALS IN MARKET
65%
25%
6%
4%
SHARE
Top Workload Top Workload
Price optimisation for store
products using AA
Sales and forecasting
analytics using AA
Mobile app to enable sales
representatives
Mobile app for internal
employee collaboration
Migrating retail data to
Hadoop server
Algorithmic analysis of
product oscillation
Search engine marketing
for mobile apps
Web intelligence data
analysis
Spend Supplier Integration
analysis on NoSQL platform
Data driven visualisation &
decision support system
Brand performance and
opportunity analytics
Multi-channel sales data
analytics using AA
Web intelligence re-hosting
/transformation on Hadoop
Customer facing app for
ordering products online
Making retail processes
paperless through mobile
Predicting retail trends via
AA to improve sales
TOTAL ACCOUNT
SIZE
Imperative for service providers to develop retail industry specific expertise in order to be able to win digital services deals
Mobility Advanced AnalyticsTECHNOLOGY LEVERAGED Cloud Deployment

17. 17
Service providers seeking differentiation through investments
in IPs, CoEs, and partnerships
Illustrative Platforms Partnerships
CoEs/ Digital Labs Focus on IPs Start-up Connects Platform Partnerships
• An estimated 15,000+ resources
working across retail COEs/digital labs
• India a hub of such Digital Labs,
followed by Eastern Europe
India
59%
Eastern
Europe
14%
North
America
13%
Western
Europe
7%
Others
7%
Digital Labs Geographical Spread
• Top Focus areas include: Store Ops,
marketing and sales and Customer
experience
• Top technologies include BI/Analytics,
IoT, Mobility and Cloud
• Partnerships with digital natives high on
priority for Service providers
• Analysis of 100+ such start-up
partnerships, suggests heavy focus on e-
commerce, and marketing and sales
21%
7%
13%
6%
14%
39%
Marketign and Sales
Store Operations
SCM
Merchandising
Customer Experience
Online Commerce
Segmentation of Startup Engagements – by
End Segment Focus
• Seeking competitive differentiation,
multiple retail focused digital service
providers have created IPs, including
products, platforms and
tools/frameworks
Marketing and
Sales, 18%
Store
Operations,
20%
SCM, 20%
Merchandising,
14%
In Store
Customer
Experience,
12%
Online
Commerce,
17%
Segmentation of IPs by segments
• Multiple service offerings of retail
focused digital service providers are
pivoted around their partnerships with
industry leading platforms.
• Key themes include: data driven
decision making, AR/VR, ecommerce,
personalization, and digital marketing

18. Connects of Service Providers with
Digital Stakeholders
Digital Order Book FlowType of Outsourcing Engagements
18
Digital demand is mostly project based and often driven by
non-traditional stakeholders
CIO/CTO
CMO/CDO
CEO
44%
BU
Heads
Service providers broadening their
relationships with stakeholders outside of
CIO/CTO office to align with other digital
stakeholders
Project Based
Work
83%
Staff
Augmentation
17%
Retail digital outsourcing continues to be
dominated by project based work as
against large outsourcing resulting in low
typical deal sizes
29%
32%
38%
New New
Old New
Old Old
Digital deal flow continues to be a
challenge for service providers with more
than less than 40% visibility of order book
26%
20%
9%

19. 19
Nearly half of the digital workforce of service providers working
on analytics and UI; high demand leading to availability crunch
Marketing and
Sales, 18%
Store
Operations,
14%
SCM, 14%
Merchandising,
18%
In Store
Customer
Experience,
10%
Online
Commerce,
26%
25%
22%
20%
14%
10% 9%
Big Data &
Analytics
UI Developers Domain
Consultants
Industry Experts Integration &
Solution
Architects
UX Designers
Axis Title
0-5 Years 5-10 years 10+ yearsLegend
Segmentation of Talent by Retail Segment Focus Segmentation of Talent by Skill and Experience Levels

20. About Zinnov
Retail Digital Transformation Landscape
20
Agenda
Zinnov Zones Ratings for Digital Services in Retail

21.  Future
Outlook
21
Zinnov Zones for Digital Services in Retail 2016: Framework
Scalability of Retail Business
Positioning reflects the
scores in Retail Digital
Prowess and Scalability
Retail Digital Prowess1 Scalability2
 Scale of Business
 Retail Clientele
 Retail Digital
Offerings
 Ecosystem
Leverage
 Retail Digital
Workforce
 Composition
of Digital
Clientele
 Business
Models
Retail Digital Prowess
The cumulative score of enterprises based on Retail Digital Prowess (x value) and Scalability in Retail Vertical (y value) was used to classify the service providers in Zinnov Zones framework
Zinnov evaluated participating service providers on two key areas basis which they
were plotted on a 2-dimensional graph
 Retail Talent

22. 22
Retail Digital Prowess Parameters
* Digital Services: Legacy Modernization, Digital Application Engineering, Design & Experience, Digital Platform Integration, Data Management & Analytics, Digital Consulting Services
 Retail Digital Offerings
 Ecosystem Leverage
 Retail Digital Workforce
 Composition of Digital Clientele
 Business Models
Abundance of digital skills: Retail Domain Experts, Big Data & Analytics Specialists, UI Developers, UX Designers, Domain Consultants, Solution & Integration
Architects | Average experience of retail digital workforce | Onsite vs Offshore talent split
Ability to deliver across business models: T&M, Fixed Price and Outcome based models| Engagement Model split (Staff Augmentation versus Project Outsourcing)
Digital capability across retail segments: Marketing and Sales, Store Operations, SCM, Merchandising, In Store Customer Experience and Online Commerce |
Leveraging retail specific Intellectual Properties (IPs), accelerators, tools and frameworks | Digital services spread*
Degree of utilization of retail digital partnerships with start-ups, digital technology platforms, academic universities and research institutes | Strength of digital
innovation including set up of Retail Digital Labs and Centres of Excellence | New digital technology focus
Penetration within digital native clients/ start-ups | Connects with new digital stakeholders | Composition of client accounts (old/new) | Large account conversion
rate
Cumulative Score on the Retail Digital Prowess parameters defines the horizontal position of Service Providers in Zinnov Zones framework
Retail Digital Prowess is estimated considering six key parameters:
 Future Outlook
Focus on new logo acquisition and strategic partnerships | Strategy to set up retail focussed new Centres of Excellence | Measures to expand in new geography |
Innovation in new talent hiring/ development practices

23. 23
Scalability Parameters
Scalability has been broken down into three key parameters-
 Scale of Retail Business
 Retail Clientele
Total Digital Revenue across retail business and its segments| Growth rate of retail
business | Geographic spread of retail revenue
Width of retail client portfolio | Spread of marquee clients and large value accounts
within the retail clientele
Cumulative Score on the Scalability parameters defines the vertical position of Service Providers in Zinnov Zones
framework
 Retail Talent
Retail talent abundance | Talent split by type of business function: sales and marketing,
delivery/ operations, customer services

24.  Future
Outlook
24
Zinnov Zones for Digital Services in Retail 2016: Framework
Scalability of Retail Business
Nurture Zone Breakout Zone Execution Zone Leadership Zone
Positioning reflects the
scores on Digital Prowess
and Scalability
Digital Prowess1 Scalability2
 Scale of Business
 Retail Clientele
 Retail
Digital
Offerings
 Ecosystem
Leverage
 Retail
Digital
Workforce
 Digital
Clientele
 Business
Models
Digital Prowess in Retail Vertical
The cumulative score of enterprises based on Digital Capabilities in Retail Vertical is used to classify the service providers in one of the following Zinnov Zones:
Zinnov will evaluate participating service providers on two key areas basis which
they will be plotted on a 2-dimensional matrix
 Retail Talent

25. Low
Expansive
Niche
High
Scalability(Clients,Talent,Financials)
25
Zinnov Zones for Digital in Retail: Main
Source: Data shared by participant companies, Zinnov Research
Zinnov Zones for Digital Services in Retail
EstablishedEmerging
HighDigital Prowess (Offerings, Ecosystem Leverage, Talent, Clients, Business Model, Future Outlook)
Aegis
Cybage
EPAM
Happiest Minds
HCL
IBM
ITC Infotech Luxoft
Ness
Quatrro
SoftServe
Sonata Software
Syntel
Tech Mahindra Wipro
Zensar
Accenture
Cognizant
CapgeminiTCS
Infosys
Full Participation by Service Providers
Partial/No Participation by Service Providers

26. S. No. Company
Digital Retail
Offerings
Ecosystem
Leverage
Retail Digital
Workforce
Digital
Clientele
Business
Model
Future
Outlook
1 Accenture
2 Capgemini
3 Wipro
4 IBM
5 TCS
6 Cognizant
7 Infosys
8 EPAM
9 HCL
10 Zensar
11 Ness Digital Engineering
26
Retail Digital Services
Prowess Scores
NascentDevelopingCapableVery CapableLeaderSCALE
(1/2)

27. S. No. Company
Digital Retail
Offerings
Ecosystem
Leverage
Retail Digital
Workforce
Digital
Clientele
Business
Model
Future
Outlook
12 Happiest Minds
13 Tech Mahindra
14 SoftServe
15 Syntel
16 Luxoft
17 Sonata Software
18 ITC Infotech
19 Cybage
20 Aegis
21 Quatrro
27
Retail Digital Services
Prowess Scores
NascentDevelopingCapableVery CapableLeaderSCALE
(2/2)

28. 28
Zinnov Zones for Digital in Retail
Nurture Zone Breakout Zone Execution Zone Leadership Zone
Scalability(Clients,Talent,Financials)
Ratings for Marketing and Sales
Source: Data shared by participant companies, Zinnov Research
High
Low High
Aegis
Cybage
EPAM
Happiest Minds
HCL
IBM
ITC Infotech
Ness
SoftServe
Sonata Software
Syntel
Tech Mahindra
Wipro
Zensar
Accenture
Cognizant
Capgemini
TCS
Infosys
Digital Prowess (Offerings, Innovation Ecosystem, Clients, Talent)
Full Participation by Service Providers
Partial/No Participation by Service Providers

29. 29
Zinnov Zones for Digital in Retail
Nurture Zone Breakout Zone Execution Zone Leadership Zone
Scalability(Clients,Talent,Financials)
Ratings for Store Operations
Source: Data shared by participant companies, Zinnov Research
High
Low High
Aegis
Cybage
EPAM
Happiest Minds
HCL
IBM
ITC Infotech
Ness
SoftServe
Sonata Software
Syntel
Tech Mahindra
Wipro
Zensar
Accenture
Cognizant
Capgemini
TCS
Infosys
Digital Prowess (Offerings, Innovation Ecosystem, Clients, Talent)
Full Participation by Service Providers
Partial/No Participation by Service Providers

30. 30
Zinnov Zones for Digital in Retail
Nurture Zone Breakout Zone Execution Zone Leadership Zone
Scalability(Clients,Talent,Financials)
Ratings for Supply Chain Management
Source: Data shared by participant companies, Zinnov Research
High
Low High
Aegis Cybage
EPAM
Happiest Minds
HCL
IBM
ITC Infotech
Ness
SoftServe
Sonata Software
Syntel
Tech Mahindra
Wipro
Zensar
Accenture
Cognizant
Capgemini
TCS
Infosys
Digital Prowess (Offerings, Innovation Ecosystem, Clients, Talent)
Full Participation by Service Providers
Partial/No Participation by Service Providers

31. Aegis
Cybage
EPAM
Happiest Minds
HCL
IBM
ITC Infotech
Ness
SoftServe
Sonata Software
Syntel
Tech Mahindra
Wipro
Zensar
Accenture
Cognizant
Capgemini
TCS
Infosys
31
Zinnov Zones for Digital in Retail
Nurture Zone Breakout Zone Execution Zone Leadership Zone
Scalability(Clients,Talent,Financials)
Ratings for Merchandising
Source: Data shared by participant companies, Zinnov Research
High
Low High
Digital Prowess (Offerings, Innovation Ecosystem, Clients, Talent)
Full Participation by Service Providers
Partial/No Participation by Service Providers

32. 32
Zinnov Zones for Digital in Retail
Nurture Zone Breakout Zone Execution Zone Leadership Zone
Scalability(Clients,Talent,Financials)
Ratings for In Store Customer Experience
Source: Data shared by participant companies, Zinnov Research
High
Low High
Aegis Cybage
EPAM
Happiest Minds
HCL
IBM
ITC Infotech
Ness
SoftServe
Sonata Software
Syntel
Tech Mahindra
Wipro
Zensar
Accenture
Cognizant
Capgemini
TCS
Infosys
Digital Prowess (Offerings, Innovation Ecosystem, Clients, Talent)
Full Participation by Service Providers
Partial/No Participation by Service Providers

33. 33
Zinnov Zones for Digital in Retail
Nurture Zone Breakout Zone Execution Zone Leadership Zone
Scalability(Clients,Talent,Financials)
Ratings for Online Commerce
Source: Data shared by participant companies, Zinnov Research
High
Low High
Aegis
Cybage
EPAM
Happiest Minds
HCL
IBM
ITC Infotech
Ness
SoftServe
Sonata Software
Syntel
Tech Mahindra
Wipro
Zensar
Accenture
Cognizant
Capgemini TCS
Infosys
Digital Prowess (Offerings, Innovation Ecosystem, Clients, Talent)
Full Participation by Service Providers
Partial/No Participation by Service Providers

34. 34
Disclaimer
Zinnov Proprietary & Confidential
In the context of Zinnov Zones for Digital Services in Retail, we reached out to a limited set of service providers that could be
potential leaders in this space. Our set of inclusion criteria enables us to shortlist, effectively based on which service providers
are invited to participate. While we normally see significant interest in participation, sometimes a service provider may
request to be excluded from the Zinnov Zones activity if the timing of the research or circumstances within the service
provider organization makes participation difficult. If a service provider declines to participate at the beginning of a Zinnov
Zones process, it is important to know the following policies:
 Some non-participating service providers are still included in our evaluation
o As we invite only leading service providers and emerging players to participate in Zinnov Zones, if a service provider
decides not to participate, we have still included them in the final report if we think it is necessary
o Our reasoning is that Zinnov Zones without a leading service provider would project a partial picture of the market
and make it less pertinent for our clients
 The Zinnov Zones report clearly differentiates service providers that did not undergo the same rigorous evaluation as its
peers
o While our analysts have evaluated the service providers that declined to participate, the service provider’s place in
the ratings is denoted by a differentiating symbol indicating non-participation in the research process
o Their assessment is based on different inputs than those used for evaluating its peers

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