According to Juniper Research, consumer retail spending over chatbots will reach $142 billion by 2024 — that’s rising from $2.8 billion in 2019. This represents average annual growth of 400 percent over the next four years.
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%).
Food and beverage retail is the next big sector that will feel the influence of digital shopping. We’re seeing the shift already: 23% of U.S. shoppers bought groceries online in 2016, an increase of 20% versus just two years prior—and adoption has only accelerated since then.
According to eMarketer’s latest forecast on digital and mobile travel. This year, digital travel sales in the U.S. will reach $189.62 billion, 40 percent of which will come from mobile devices such as smartphones and tablets.
The 2017 American Express Digital Payments Survey shows that consumers are increasingly relying on online and mobile technology to make purchases, opening new opportunities for merchants to reach more customers and grow revenue.
Source: American Express
Marketers around the world are funneling an increasing amount of their ad budgets into digital channels. But that’s just the beginning of the story. eMarketer predicts digital advertising spending’s share of total media ad spending will increase worldwide in 2016 and 2017.
UK retail ecommerce sales are set to exceed £67 billion in 2016, fueled by some impressive growth in smartphone-based buying. The UK is a world leader in terms of retail ecommerce’s share of total retail sales, and by 2020 digital retail sales will represent a 22.6% share.
Fraudulent impressions, infringed content and malvertising cost the U.S. digital marketing, advertising, and media industry $8.2 billion annually. That money can be recouped if companies fix badly designed business processes and repair obvious flaws in the digital advertising supply chain.
Source: IAB & EY