Artificial Intelligence Use Cases in CPG and Retail

“AI raises the analytical capabilities of CPG manufacturers and retailers to a new level and helps to optimize decision-making and to automate processes and actions. This includes optimizing internal processes such as logistics, inventory, and supply chain management.”

via PAC

Ambient Commerce Technology Revenue to Reach $5.3 Billion

Ambient commerce will drive expenditure on IoT connected devices and on IoT software and services in the retail sector. By 2020, the retail sector will spend $5.3 billion on IoT software and services — that’s up from $2.7 billion in 2018.

via GlobalData

Why the Future of Retail Growth is Omnichannel

While it might be tempting to look at online and offline shopping trends individually, doing so limits the ability to see the synergies. For example, click-and-collect retail shopping has increased 30 percent in the past two years — it represented 18% of online grocery sales in 2016 and now represents nearly half (48%).

via Nielsen

In-Store Retail Technology Innovation Gains Momentum

According to the latest worldwide market study by Juniper Research, retail spending at new frictionless payment stores — such as Amazon Go — will increase from an estimated $253 million in 2018 to over $45 billion by 2023.

via Digital Lifescapes

How Smart Retail Technology Fuels In-Store Innovation

In 2025, traditional brick and mortar retailers will spend $34 billion on AI technologies — that’s up from just $4 billion in 2018. According to the ABI assessment, computer vision will account for 29 percent of this IT spending.

via Digital Lifescapes

How Wearable Technology Transforms In-Store Retail

ABI Research forecasts enterprise retail wearable shipments will reach nearly 10 million in 2022, increasing from just 2 million in 2017 — that’s a compound annual growth rate (CAGR) of 38 percent.

Source: Digital Lifescapes

Smart Point of Sale Solutions are Gaining Momentum

ABI Research forecasts the point of sale (POS) hardware market will increase to more than $4.5 billion in 2021, with revenues generated from a combination of traditional POS and mPOS — which employs a smartphone or media tablet as the cash register.

Source: Digital Lifescapes

Retail Point-of-Sale Technology Evolves with NFC and mPOS

The market for NFC-ready POS terminals continued to show momentum in 2016 with annual shipments anticipated to reach an estimated 16.1 million units, according to the latest worldwide market study by Berg Insight.

Source: Digital Lifescapes

Contactless POS Transactions will Reach $500 Billion in 2017

According to Juniper Research, the global value of contactless POS terminal transactions — conducted in-store via cards, mobile phones and wearables — will approach $500 billion annually by 2017; that’s up from an estimated $321 billion this year.

Source: Digital Lifescapes

More Omni-Channel Commerce Services Reach Global Markets

Customers today forge paths to purchase that seamlessly cross channels, screens and stores.  For example, U.S. consumers in 2015 spent a whopping $1.5 trillion in-store that originally started or were influenced along the way by digital touchpoints.

Source: Forrester