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A customer-centric approach to supply chain management is challenging; it requires a deep understanding of consumer expectations and behaviors, not just today but also for the foreseeable future. For starters, consumers appetite for digital commerce is skyrocketing. In 2020, global ecommerce sales reached $4.2
As part of its Triple Shot Reinvention Strategy — one of the key objectives of which is to become “truly global” — Starbucks plans to more than double its current India store count to 1,000 brick-and-mortar locations by 2028. Starbucks operates in India through a 50:50 joint venture with Tata Consumer Products called Tata Starbucks.
Canada Goose is planning to more than double its physical footprint from the current 51 locations over the next five years as it pursues revenue of $3 billion by 2028. The expansion will complement plans to expand omnichannel operations with a greater digital presence and increase the brand’s focus on its female and Gen Z shoppers.
Retailers today are faced with mounting pressure to maximize their bottom lines while maintaining cost expectations for consumers. billion in 2028. Operations. As a result, companies can expect to see decreased operating costs and increased profits over time, resulting in higher returns on their investments. .
CVS’ partnership with Microsoft focused on developing innovative solutions to help consumers improve their health, while empowering over 300,000 CVS Health employees with tools to attend more than 100 million people. from 2021 to 2028); vegan products; and blue zone-specific assortments, among others.
The experts agree, predicting that global AI in the retail market will surpass $24 billion by 2028 , growing at 24.4% Tools like visual search enable consumers to use images for searching. By continuously training and evolving models to map changing consumer behaviors, the possibilities for engagement are limitless.
As consumers demand more flexible payment options, it is no surprise that the digital top-up card industry has had a strong year. billion by 2028, rising at a market growth of 14.2% Consumers value the convenience these offer. Consumers are not the only beneficiaries of this method of payment.
In addition to the compressed retail rush, Salesforce reports that 43% of consumers are carrying more debt than last year, making the fight for attention even more intense. Whether consumers search for a “shoe store near me” or “holiday gift ideas,” it plays a pivotal role, accounting for multiple touch points along the buyer’s journey.
The state of retail in 2025 Retail is a booming market, projected to reach $28 trillion by 2028. While physical stores still account for most of consumer spending, ecommerce continues to grow steadily. Brands are navigating a world of rising costs, shifting consumer preferences, and political challenges.
Operational efficiency in ecommerce has never been more important. The acceleration of the digital economy has led to technological innovation in many aspects of retail operations. Based on social media analysis on consumer sentiment. Global crises have made consumers more discriminating and retailers more creative.
Senior leaders will have candid conversations about: The evolution of loyalty programs and branded communities; How brands are combining visual storytelling and experiential activations to drive store strategies ; Ways to better personalize and contextualize digital experiences for consumer needs and lifestyles.
In 2024, the sector navigated a period of change driven by shifting consumer expectations, economic pressures, and evolving workplace dynamics. A new government in the UK introduced policies that have influenced business operations and consumer spending patterns, particularly in areas such as taxation and sustainability incentives.
On the headline stage, Retail Economics CEO, Richard Lim, will provide a financial outlook to 2025 and beyond, mapping the key challenges and opportunities for retailers looking to optimise and stream-line business operations while adapting to new cost-of-living consumer behaviours.
CB Insights ) Go to the top Adoption of AI Statistics The number of companies and everyday consumers leveraging AI-powered solutions has increased drastically in the last couple of years. In the coming years, the number of consumers and companies using AI is likely to increase even further. billion by 2028.
billion by 2028. The global live ecommerce market is estimated to reach $2 billion by 2028 While live commerce was undoubtedly growing anyway, it was the pandemic that led to accelerated growth. 71% of consumers expect personalization. billion in 2022 and is forecasted to reach $2,880.3
For Japan and Korea, they’re mature markets known for their advanced technology adoption and high consumer expectations, while Australia and New Zealand serve a stable, well -developed markets with a strong digital penetration. and they were only attaining a mere 40 % authorization rate, which was crippling their e -commerce operations.
In a world of instant gratification, same-day delivery, and evolving consumer expectations, ecommerce retailers can’t afford to underestimate the power of rapid Fulfilment. trillion by 2028, and companies who want to “cash in” on the industry need to be prepared. However, they’re not entirely opposed to paying extra for fast shipping.
Such changes have revolutionized the retail industry and consumer behavior and wouldn’t have been possible without the creation of cloud-based POS software. Cloud POS trends are booming, with nearly 28% of retailers planning to adopt this technology to shape the future of their sales operations and improve consumer satisfaction.
We explore the key metrics that retailers should track to ensure that they are operating efficiently and raising as much money for their charity as possible. Global sales in 2024 are at $1.046 trillion US dollars, and forecast to grow by $130 billion to $1.176 trillion by 2028. Read how we’re helping the thrift sector to thrive.
billion by 2028. Go to the top Sezzle vs Afterpay: For Businesses Both Sezzle and Afterpay are similar BNPL providers, offering solutions to both consumers and businesses alike. For consumers, Sezzle and Afterpay are convenient shopping tools, but they can also be risky. The commission price will depend on how much you sell.
The Global Footwear Market: An Overview After being buffeted by the pandemic and accompanying supply chain disruptions, the footwear industry has bounced back and is now projected to grow at a CAGR of 5% and hit $314.2bn by 2028. The 3 brands in focus have done all that and more in different ways.
The eCigarette and vape industry alone was valued at over $6 billion in 2020 and the expected annual growth is nearly 30% until 2028. Both federal and state governments continue to take steps to regulate the industry in order to protect younger consumers. Our powerful software is built to make operating a smoke shop a lot easier.
Pivotree Warehouse Management System (WMS) is a one-stop-solution for inventory operations that addresses some of the most pertinent fulfillment-related challenges. Pivotree WMS offers flexibility to model complex operations, easy integration with 3 rd party applications and implementation accelerators for faster ROI.
billion by 2028, expected to grow at a CAGR of 4.8% between 2021 and 2028. It also doesn’t require much labor, as it operates automatically as soon as the customer pays and enters the bay. Regardless, the growth of the car wash services industry is apparent. According to Report Linker , the U.S. In-bay automatic car wash.
Nonetheless, an increase of consumer products and evolving shopper behavioral patterns has shown that customers are eager to buy the products they want from the stores they prefer. The c-store industry is expected to grow at about a 5% compounded annual growth rate from 2022 through 2028. What makes a convenience store successful?
You are collecting data that you need to make sure isn’t going against data privacy regulators like the General Data Protection Regulation ( GDPR ) and California Consumer Privacy Act (CCPA). Billion by 2028. In fact, it’s expected to grow by 10.77% , and reach a projected market volume of $58.1
This development follows efforts by major brands like Wendy’s and Walmart to implement real-time pricing technologies, raising questions about AI and consumer protection, privacy, and fair practices. through 2028. Benefits of AI Pricing for Retailers and Consumers For retailers, AI-driven strategies provide several benefits.
Providing Access to First-Party Data With so much competition over the holidays, its essential for mid-market brands to reduce wasted ad spend by targeting consumers who are most likely to convert. in-store retail media ad spending by 2028. consumers starting as early as June. of all U.S. retail media ad spend in 2024, with U.S.
Think of gloves with built-in vibration sensors for machine operators or jackets equipped with a global positioning system (GPS) for outdoor workers. They resonate with environmentally conscious consumers and employees who value ethical choices. Other Wearable Technologies Wearable technology is also gaining traction.
A few years ago, buying resale online was still something that had to be sold to consumers. But as ThredUp ’s 12th annual Resale Report shows, the need for a hard sell is over — consumers of all ages have clearly bought into the idea, with secondhand apparel sales growing 15X faster than the broader retail clothing sector in 2023.
Display & Programmatic : The Trade Desk is doubling down on the growing CTV space by working on a CTV operating system. Consumer Economy : The long awaited Fed rate cut has arrived, and consumer sentiment ticks up. Ad Economy : Google faces the antitrust music (again), and TikTok gets its day in court.
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