The Spring 2020 Smart Audio Report confirms 77% of U.S. adults have had a change in their typical routine due to the outbreak of COVID-19, and voice-assistant usage has expanded during these disruptions. New research shows how smart speakers and voice assistants are increasingly becoming a part of their everyday lives.
Over 348,000 shoplifters and dishonest employees were apprehended in 2019 by just 21 large USA retailers who recovered over $136 million from these thieves, according to the 32nd Annual Retail Theft Survey conducted by Jack L. Hayes International. -from hayesinternational.com
After COVID-19, both households and retailer have both been financially hit, and even though there has been a push for ecommerce through this pandemic, the online experiences are mediocre. “But the good news is that 2021 is expected to be much, much stronger, with almost unheard of growth rates in an optimistic scenario around the world." Like the seven significant COVID-19 ramifications in the retail landscape. -From designretailonline.com
Global GDP will be weak in Q1, even weaker in Q2, and start to recover by Q4; GDP will be down 8.3% for the year as a whole. Smartphone sales were down 40% in February;2 we assume sales could be down 7% to 10% for 2020 as a whole. Ad spending will be down 5% to 10% for the year. -from Deloitte
McKinsey estimates revenues for the global fashion industry (apparel and footwear sectors) will contract by 27 to 30 percent in 2020 year-on-year. For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, fine jewellery and high-end beauty), global revenue contraction of 35 to 39 percent in 2020. The coronavirus presents fashion with a chance to reset and completely reshape the industry's value chain. -from McKinsey
The rate of technological advancement win retail continues to increase exponentially. 62% of retailers report that IT spending will increase this year, with an impressive 19% claiming the increase will clock in with double-digit growth. Just as interesting are those technologies that were left off the top 10 strategies list. -from risnews
Grocers report 17% of total sales today can be attributed to digital efforts. Major players are going big on home delivery, the ultimate convenience. 67% of Grocers interested in using computer vision to check on-shelf availability; 21% report 'strong interest.' -from risnews.com
Chinese-based marketplace operator Alibaba has jumped three places from seventh to fourth in the rankings. Perennial “most global” operator Tesco has officially fallen out of the Top 10 for the first time. Five retailers have gained significant momentum in the past 12 months. -from NRF
Everyone alive today is being scored. Get ready to meet your digital twin. Quantum and edge make trends list. Robots are coming. Big tech farming. Home digital emissions. Synthetic medicines, microbes, and food. A mil-tech industrial complex. Space the final frontier. -from Future Today Institute
Winning retailers are clearly alarmed by increasing volumes of customer inquiries. This increase is no doubt driven by the continued rise of eCommerce sales. This is the business challenge they cite most frequently, driving them to consider using robotics and automation in stores and call centers. -from RSR (Retail Systems Research)
There were no new entrants in the Top 10 global retailers list, which continues to be dominated by players based in the US. The top two and the bottom three players in the Top 10 retained their rankings, while Kroger and The Home Depot slipped down the table. On average, companies in the Top 250 operated in 10.8 countries, up from 9.5 in previous year, and generated 22.8% of their revenue from foreign operations. -from Deloitte
The Coronavirus will have a profound effect on China’s economy – Creating more strain during ‘down’ year. China’s digital population continues to grow. There are 854 million Chinese netizens. Despite a slowdown in China during 2019/20, the market size and momentum warrant strong, long-term strategies from brands. -from TalkToTotem.com
52% of consumers say that technology plays a prominent role or is ingrained into almost all aspects of their day-to-day lives. In fact, 19% report that technology is so intertwined with their lives that they view it as an extension of themselves. Globally, people spend an average of 6.4 hours online daily. - From Accenture
This 17th year study is a collaboration between RIS News and IHL Group. It delivers the definitive study that examines trends for the coming year in the key areas of technological advances and investment timelines that drive the blending of brick-and-mortar and digital transformation. - From RIS News
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