According to the latest worldwide market study by Juniper Research, the value of transactions processed by smart checkout technologies, where the fixed checkout process is replaced by a friction-less model, will reach $387 billion in 2025 — that’s up from just $2 billion in 2020.
“The future of consumer buying is not a shift from traditional to digital, nor is it an abandonment of self-service in favor of delivery; it’s all of the above. Consumers want values-based experiences, experimentation, price, and convenience, and they don’t want to make the trade-off.”
“The pandemic has accelerated the shift away from physical stores to digital shopping by roughly five years. Department stores, as a result, are seeing significant declines. In the first quarter of 2020, department store sales and those from other ‘non-essential’ retailers declined by 25%. This grew to a 75% decline in the second quarter.”
Micro-fulfillment is a strategy retailers use to make the fulfillment process more efficient — from receiving an online order to packing it and in some cases offering last-mile delivery. The approach aims to take the speed of localized, in-store pick-up and combine it with the efficiency of large, automated warehouses.
via CB Insights
“The resilience of these companies is due to one simple fact: They have transformed their traditional business models rapidly by leveraging a plethora of digital practices. And this transformation is hardly unique to China: It is what players must undertake in the economy of the pandemic to survive.”
via MIT Sloan
Across industries, brands should expect an ongoing process of trial and error as they monitor and predict the ways potential buyers in their sectors renegotiate the nature and terms of their participation — and automotive is no different. Will fear of infection through public transit, ride-sharing, and air travel fuel a shift towards more personal and private forms of mobility?
The global blockchain services market generated between $1.81 billion and $1.83 billion in 2019. Government backing and strong legislative movements have propelled the Asia Pacific region as the leading geography with blockchain network adoption.
via Everest Group
The COVID-19 pandemic has accelerated the adoption of digital technologies and services, which have kept trade flowing even as movement has been restricted. This has highlighted the need to modernize trade rules and reverse the trend of digital protectionism.
Over the last five years, Bitcoin users and transactions have averaged a growth rate of nearly 60% per year. Similarly, private and public investors have deepened their commitment to cryptocurrencies including Ethereum, Ripple, and Stellar — and a number of others across the industry.