- “Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the pandemic’s outbreak. Same-store sales rose 10% at U.S. Walmart stores on strong sales of food, health and wellness goods.
- Ken Perkins, president of research firm Retail Metrics, said he expects earnings will be down 36.6% for the 103 retailers he tracks compared to the year-ago period.”
- “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. Although we’re all eagerly anticipating same-day drone-based delivery services, it’s clear that the experience of purchasing our favorite goods in-person isn’t going away.”
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- “As reported by Yahoo Finance, Starbucks COO Rosalind Brewer told analysts this week that the company plans to put 4,000 new AI-enabled coffee machines in stores by the end of 2020.
- Deploying the Mastrena II will allow Starbucks to both collect a wealth of data and act on it. For example, sensors in the machine can track what it’s making (i.e. what Starbucks is selling) and also provide real-time information on what parts of the “hardware” need maintenance.”
- “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 it was very useful, per Octopeek.
- Farfetch…has partnered with visual AI startup Syte on a “See it, Snap it, Shop it” feature. It allows customers to upload a photo or online image; the app will then display the item, or something very similar, on one or more retail sites.”
“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.”
NRF Big Show 2020