“According to research published by McKinsey ahead of the 2019 holiday season, 62% of shoppers planned to make their purchases online and in-store. Flashy new online and AR/VR shopping schemes may grab headlines. But by 2023, ecommerce is expected to account for just 21% of total retail sales, and a mere 5% of grocery sales….
Tag: brick and mortar
What Retail AI Looks Like in Western Europe – eMarketer
“According to July 2019 data from P&S Intelligence, the global market for retail-related AI is expected to be worth nearly $4.34 billion by 2024, posting a compound annual growth rate (CAGR) of 35.4% between now and then. Two-thirds of retailers in France considered the use of AI indispensable for ecommerce, and a further 18.5% said…
Robots Take Retail
“Walmart is building its robot army as well, and according to this ABI Research release, the company deployed 350 systems for inventory management across its stores in 2019 alone. That’s an average of roughly one robot for each store. By 2025, more than 150,000 mobile robots will be deployed in brick-and-mortar retail establishments, according to…
NRF 2020: Retailers Gather at the Big Show to Consider Their Next Steps
“Retailers are deploying artificial intelligence both online and in-store to help analyze data, deliver unique customer experiences (both onsite and online) and manage their back-end operations. PetSmart will discuss how it is deploying AI to manage its IT operations, and Amazon Pay will discuss the role of voice-based AI technologies in reshaping customer interactions.” https://www.google.com/amp/s/biztechmagazine.com/article/2020/01/nrf-2020-retailers-gather-big-show-consider-their-next-steps%3famp…
Austin retail tech startup Pensa raises $10 million
“Austin startup Pensa Systems has raised $10 million in funding to help the company speed up the deployment of its retail inventory technology. The company, which was founded in 2016, builds predictive technology for retailer shelf space.” https://www.google.com/amp/s/www.statesman.com/business/20191119/austin-retail-tech-startup-pensa-raises-10-million%3ftemplate=ampart