Forrester’s Global Retail E-Commerce Forecast, 2024 to 2028, predicts global online retail sales will rise from $4.4 trillion in 2023 to $6.8 trillion by 2028. Despite this increase, 76% of retail sales ($21.9 trillion) will remain offline by 2028. To remain competitive, retailers are enhancing their omnichannel strategies by seamlessly integrating [...]
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 [...]
In the busy world of retail, the checkout process is the last and often most crucial step in the customer journey. A smooth, efficient transaction can leave a lasting positive impression, while any hiccup can lead to frustration, abandoned carts, and lost sales. With the rise of advanced Point-of-Sale (POS) [...]
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 [...]
52% of customers pay more for a product if they anticipate an easy shopping experience – PWC Adyen’s research reveals a $3.3 trillion global opportunity, representing the potential revenue shift from negative to positive shopping experiences for retailers. Businesses that excel in tailoring services to meet customer needs and desires are [...]
The domain retail sector is in a paradigm shift of digital transformation, with an anticipated 25% of global retail poised to migrate online by 2025. APIs facilitate digital-first shopping experiences in this evolving landscape, allowing retailers to swiftly adapt and enhance their systems. They empower retailers to extend services [...]
In the Age of the Consumer, loyalty often equals the absence of something better. To sustain loyalty, we must continuously earn it in every interaction. That means today’s winning Retailers must provide: Price and Quality Assortment and Convenience Stores and Digital Pickup and Delivery Innovation and Trust Clearly, this is easier said than done. Delivering [...]
A study by Harvard Business Review found that almost 73% of shoppers utilize multiple channels during their shopping journey, with only 7% being online-only shoppers and 20% being store-only shoppers. As the holiday season approaches and major sales events like Black Friday loom, retailers face the daunting task of managing [...]
