Self-service kiosks have rapidly become a staple in the retail landscape, symbolizing the growing trend toward automation in customer interactions. In 2023, the global self-checkout market was valued at approximately $4.5 billion, with estimates suggesting it could reach between $5.2 and $6.0 billion by the end of 2024. This [...]
The retail industry has always been competitive, and it is important for retailers to thrive in this competition by adapting to new technologies and trends. In the current age of e-commerce, any retailer who does not adapt to the changes will stay behind their peers. With ever-changing customer behaviors and [...]
The Nvidia study found that AI has already been a game-changer for retailers, with 69% reporting an increase in annual revenue attributed to AI adoption and 72% of retailers that already use AI saying they experienced a decrease in operating costs. According to recent reports, the global AI in the retail market is expected to reach $40.74 billion [...]
By 2030, the value of the Generative AI (Gen AI) sector is expected to grow to USD 110.8 billion. GenAI is predicted to be responsible for 10% of all data generation by 2025, a stark increase from under 1% in 2021 – Gartner. Gen AI is causing transformative changes [...]
Several factors, including changing customer dynamics, trends, and needs, have necessitated the retail industry’s espousal of creative ways and rapid adaptation to technologically enhanced requirements. To carry out operations in a tailored manner, the retail industry is changing to a digitally advanced scenario and environment. Thanks to digital transformation, a broader [...]
Walmart has become the third-largest global IT spender. Sephora flags off digital and in-store shopping experiences. H&M blends virtual shopping with physical ease. IKEA Retail hires Google veterans to chalk out a digital transformation strategy. Touted to be the most sought-after brands in this segment for decades, what made [...]
The Covid-19 pandemic has changed the way we do business. It has brought the digital eCommerce to centerstage, driving shoppers to buy products online like never before. According to the latest Digital Commerce 360 analysis, “Consumers spent $861.12 billion online with U.S. retailers in 2020, up 44.0% from $598.02 billion in 2019. Online spending represented 21.3% of [...]
At the height of the COVID-19 pandemic, 10 years of e-commerce growth happened in just 90 days. The pandemic has impacted e-commerce in 2020, maybe more than any other time in history. While the traditional retail sales have declined, e-commerce has seen a paradigm shift with 129% growth year [...]
COVID-19 and digitalization have had a widespread impact on businesses across every sector of the economy. The retail industry too, segmented by Products and Distribution Channels, has been witnessing dramatic changes in the past year. Organizations need to provide the best retail experience to their customers across channels, whether Industrial and Automotive, Electronic and Household Appliances, Pharmaceuticals, or via the Hypermarkets and [...]
There is a major difference between digital-first and digital-only. In a utopian world, a digital-only world could become an everyday reality. But in the actual world, there are a number of complexities, interdependencies, and concerns that would hinder its practical existence. Even though we talk about the ever-increasing adoption of digital [...]
