Technologies including blockchain, AI and others are transforming the various stages in the retail supply chain, including product design, demand forecasting, manufacturing, logistics, warehousing, last-mile delivery and sales.
5G in Retail: Growing Revenues in E-Commerce, Boosting Capabilities in IoT Technologies, and Unleashing Potential in AI, AR and VR
5G should unleash the full potential of data-intense technology in retail, such as artificial intelligence, machine learning and reality technologies, empowering existing use cases and delivering new applications.
Coresight Research attended the 13th Annual VM Global Leadership Summit on March 20 in New York City. CEO Deborah Weinswig delivered the keynote address Consumers at the Crossroads of Tech and Retail and moderated a panel discussion titled Tactics and Insights for Decoding Consumer Behavior.
This is the third report in a short series looking at 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.
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.
Today’s retail environment is marked by more intense competition and rapid changes in consumer preferences, both of which pressure retailers to make smarter inventory decisions. To minimize unplanned markdowns that impact the bottom line, retailers must ensure that they deliver products consumers want to buy to the locations where they want to buy them.
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.
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:
• 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
There are two ways near field communication (NFC) tags can help retailers gain competitiveness: 1) by building customer engagement throughout the product lifecycle; and 2) by creating a more interactive and personal shopping experience for shoppers visiting the store.
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