This is the third report in a short series looking at the application of artificial intelligence (AI) in retail. In this report, we explore what startups are doing with AI in the context of our proprietary CORE framework, which stands for Communication, Optimization of pricing, Rationalization of inventory and Experiential retail.
This week’s note “From the Desk of Deborah Weinswig” discusses how blockchain technology could democratize operations and promote cooperation in retail.
Better Convenience Through Automation: Five Japanese Convenience Store Chains Sign Up to Automate All Stores by 2025
The Japanese government wants to automate convenience stores nationwide by 2025, in co-operation with five convenience store chains. Under the plan, the five convenience store chains will automate 50,000 stores by 2025 using Radio Frequency Identification (RFID) technology.
This week’s note “From the Desk of Deborah Weinswig” discusses the adaptive clothing and footwear market, which represents a $47.3 billion opportunity in the US.
Amazon was among the retailers to report a slower holiday quarter: The company’s North America sales growth slowed from 35.0% in the third quarter to 18.3% in the fourth quarter. These figures exclude Amazon’s high-growth Amazon Web Services (AWS) business and, so, should closely reflect its retail and marketplace revenues.
Eight things you need to know about retail in China: Smartphones are key, cash is going away (seriously), shopping festivals are booming, smaller cities are spending – and more.
Robots: Moving Beyond Warehouses into the Stores and the Streets Robots burst into the consciousness of the retail industry when Amazon acquired warehouse-robot-maker Kiva Systems for $775 million in May 2012. Since then, many other retail companies have followed Amazon’s example and deployed robots in their own warehouses. These robots are not the kind that walk and talk; they’re flat, faceless machines that scoot across a warehouse floor, delivering a shelf of goods to a fulfillment center, where a human packer then completes the order. While many imagine that warehouses and fulfillment centers are already completely automated, most operate using human-machine
hree Ways China Will Lead Digital Retail Trends in 2019 — and Why These Trends Are Likely to Drive Consolidation Among Major Platforms China continues to lead the world in the integration of online and offline retail, most notably through Alibaba Group’s New Retail concept. We predict that retailers in the U.S. and Europe will increasingly adopt elements of New Retail in 2019. But what else is worth keeping an eye on in Chinese digital retail? This week, we discuss three digital trends we expect to see in 2019, and we note that all three are likely to strengthen the competitive
The Coresight Research team attended TechLIFEStyle conference, part of StartmeupHK, held in Hong Kong January 22, 2019. StartmeupHK is an initiative launched by InvestHK to promote Hong Kong as a startup destination, connecting entrepreneurs and investors. The theme of the event was “living smarter, living better,” looking at how lifestyle technology can be woven into everyday life. These are some highlights of the event.
AGENDA About Coresight Research Macro Trends Current State of the In-Store Experience What’s Changing Making the Shift China Leading Retail Transformations: 5 Things You Need to Know
The Coresight Research team is attending World Retail Congress 2018 in Madrid this week. Here are our top takeaways from day two of the conference:
AI will play an increasingly important role in managing online and offline retail, logistics and data in a New Retail environment.
• Amazon and Walmart have made notable acquisitions in 2017, which have defined the new retail landscape in the US. • Petsmart moved to acquire Chewy.com, one of the fastest-growing online retailers in the US. • In fashion, Coach has moved to acquire Kate Spade, Michael Kors – Jimmy Choo.
Retailers can deploy near-field communication (NFC) tags in stores to better engage with shoppers on-site. The tags can be used to send customers product information and links and to create a more personalized shopping experience.
Retail Traffic Is Down • Retail traffic has continued to struggle, although it has been showing slight improvement • According to RetailNext, retail store traffic in July declined by just 5.5%, its smallest drop since January 2016 • The conversion rate, which represents how many shoppers became buyers, rose by 0.5% in both June and July, the highest rate increase in almost a year