COVID-19 is Accelerating Retailer Digital Transformation
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.
Micro-Fulfillment: Next Phase of eCommerce Innovation
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
Retail Chatbots Enhance the Online Customer Experience
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.
How In-Store Tech Innovation Can Transform Retailers
A global deep dive by Nielsen into emerging consumer demands points to the growing role of in-store technology. And investors are betting on it. In 2019 alone, a study from CB Insights found that investment in in-store tech spiked nearly 60% to $3.7 billion.
Why Retailers Must Prepare for Ransomware Attacks
The number of ransomware attacks on enterprises is up 500% from this time last year. Threat actors are becoming increasingly sophisticated and targeted. Ransomware is a business, and these actors want to get paid. More retailers need to be prepared.
Why Traditional Retailers Must Adopt AI Innovation
The North America retail market is an example of incumbent disruption and slow-moving, executive responses to technology-fueled change. The world’s largest consumer-driven economy is likely a precursor to market shifts that will impact retailers across the globe.
Why Savvy Retailers Adopted Artificial Intelligence
According to the latest worldwide market study by Juniper Research, global spending by retailers on AI services will reach $12 billion by 2023 — that’s up from an estimated $3.6 billion in 2019. Juniper expects over 325,000 retailers to adopt AI technology over the forecast period.
Blockchain Enables Digital Transformation in Retail
Juniper forecasts that the number of retailers using blockchain in the U.S. market alone will grow by over 7,500 percent between 2018 and 2023 to reach nearly 15,000 retailers by the end of 2023.
How Mobile Apps Influence Retailer Revenues
“Retailers have more work to do on their apps to inspire omnichannel shopping. In 2019, smartphones will influence 32.2% of U.S. offline retail sales. With more than $1 trillion on the line, we selected nine top U.S. retailers to see what kind of digital experience they bring to the table online and in-store.”
Retail Next-Gen: Progressive Digital Transformation
Retail is arising from the first chapter of digital transformation — upheavals of shopping behaviors, business models, and industry structure. New retail formats are emerging as customer behaviors change, and newcomers shake things up. Retail’s next regeneration is taking shape.
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