Deep DiveArtificial Intelligence in Retail, Part 2: What Retailers Are Doing with AI Coresight Research July 10, 2018 Executive SummaryThis report is the second in our series looking at the application of artificial intelligence (AI) in retail. In this report, we explore how retailers are applying AI across business functions. We studied 30 retailers to understand how they have implemented AI in their businesses, and found that: The majority of retailers are using AI for supply chain functions, such as inventory management, demand forecasting, automatic replenishment, automated warehouse operations and fulfillment. Out of the 30 retailers we studied, 63% have launched or invested in tech-focused incubators and accelerators. Amazon and Alibaba are leading among the retailers we analyzed in terms of using AI, and their AI applications cover all four quadrants of our CORE framework. Amazon and Alibaba have been actively funding or acquiring startups and firms that create AI applications and hardware. Click here to view more reports on AI in retail. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Flash ReportAmazon to Acquire PillPack for a Reported $1 Billion, Bolstering Pharmacy Ambitions Coresight Research July 9, 2018 Executive Summary Amazon has entered into an agreement to acquire US-based online pharmacy PillPack. The transaction is subject to regulatory approvals and is expected to close in the second half of 2018. PillPack holds pharmacy licenses across all 50 states in the US, is accredited by two trade bodies and has developed a proprietary pharmacy management system called PharmacyOS. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Store TrackerWeekly Store Openings and Closures Tracker 2018, Week 27: Macy’s Plans 55 New Bluemercury Stores Coresight Research July 6, 2018 Executive SummaryCoresight Research tracks store closures, openings and bankruptcies for a select group of retailers in the US and the UK. Our Weekly Store Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture. Click here to view our full collection of Weekly US and UK Store Trackers. Highlights from this week’s Store Tracker: Year-to-date 2018, the number of US store closure announcements stands at 4,146 and the number of store openings is 2,042. Sears announced it will close another 10 stores. Macy’s will open about 55 new Bluemercury stores through to 2019. Abercrombie & Fitch will open two college-campus-area stores in August. Aki-Home plans to open hundreds of stores in the US. Year to date in the UK, there have been 956 store closure announcements and 625 store opening announcements. French childrenswear brand Jacadi plans to close its five UK stores by the end of August. Homebase has shut 17 stores since February. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Company Earnings UpdatePrimark (LSE: ABF) 9M18 Trading Update: Improved Comparable Sales Driven by Better Trading in the Eurozone Coresight Research July 6, 2018 Executive Summary Associated British Foods (ABF) reported its 9M18 trading statement for the 40 weeks ended June 23, 2018. This report focuses on Primark, the company’s retail division. In its 9M18 update, Primark reported a year-over-year revenue increase of 7% and an increase of 6% at constant currency. Primark has expanded its selling space by 0.8 million square feet since the beginning of the fiscal year. For FY18, management expects improvement in Primark’s margins to result in higher profit growth. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Analyst CornerWeinswig’s Weekly July 6, 2018 Coresight Research July 6, 2018 Executive Summary This week’s note “From the Desk of Deborah Weinswig” discusses how Amazon is positioning its expanding line of private-label products to capitalize on this year’s Prime Day shopping event, which is taking place July 16–17. Toys“R”Us will leave 700 empty stores in the US, but many of those will soon be occupied. Despite the flood of store closings in recent years, many retailers are looking to add brick-and-mortar locations. French retailer Carrefour has announced a strategic alliance with British grocery retailer Tesco. The alliance will be aimed at improving price competitiveness and product quality. Chinese e-commerce service provider Pinduoduo (PDD) is planning to raise at least $1 billion in a US IPO. PDD has become one of the fastest-growing startups in China by creating a sort of Facebook-Groupon mash-up, where people spot deals and then recruit friends to buy the items at a discount. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Insight ReportQuick Take: Technology Platforms’ Status as “Digital Gatekeepers” Set to Fuel Further Retail-Tech Collaborations Coresight Research July 5, 2018 Executive SummaryMore and more international retailers are collaborating with, or investing in, digital platform operators. We see these platform operators as “digital gatekeepers,” in that they hold the keys to growth for retailers in certain channels and markets. Technology platforms hold the keys to two growth opportunities for retailers: the emerging retail channel of voice commerce and the retail markets of China and India. These platforms act as intermediaries, disrupting the traditional retailer-consumer relationship. Unlike legacy digital channels, the voice channel is created and curated by two tech giants, Amazon and Google. Retailers therefore face talking (literally) to their customers through one of these intermediaries. In China, Alibaba Group and JD.com dominate e-commerce. Names such as Macy’s, Aldi and Costco have collaborated with Alibaba Group, while Walmart has recently expanded its strategic partnership with JD.com. In India, marketplace sites are a dominant e-commerce format, as reflected by Walmart’s acquisition of a majority stake in the Flipkart marketplace site in May 2018. The competitive advantages enjoyed by these platform operators look likely to fuel further collaboration with retailers in 2018 and into 2019. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Company Earnings UpdateSainsbury’s (LSE: SBRY) 1Q19 Sales Update: Very Weak Growth Confirms Under performance Versus Peers Coresight Research July 5, 2018 Executive Summary Sainsbury’s reported very weak comp growth of just 0.2% in 1Q19. General merchandise drove growth, with a sequential slowdown in grocery growth. For FY19, the consensus calls for Sainsbury’s to grow revenues by 1.1% and to post a very slight strengthening of its operating margin Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Event CoverageTop Takeaways from the US-China AI Tech Summit, Part 2: Cross-Industrial Disruption Coresight Research July 4, 2018 Executive SummaryLast week, the Coresight Research team attended the first-ever US-China AI Tech Summit, which was held in Silicon Valley. Our first report on the conference covered the day’s morning sessions, including a fireside chat with Apple Cofounder Steve Wozniak. The second half of the event focused on applications of artificial intelligence (AI) across industries. Experts from the fintech, legal, enterprise and nonprofit realms discussed the challenges ahead and the greatest opportunities for AI integration. Across sectors, finding solutions to problems will require human ingenuity. AI is a strong tool, but its efficacy relies on human steering. Instituting a global AI council would be a constructive way to manage this technology. AI’s benefits lie not only in predicting future successes, but also in spotting potential disasters. In the finance industry, for example, developers of fintech AI aim to create tools that can predict recessions. The strength of AI devices grows primarily in tandem with their capacity to understand humans, not just with their computational skills. In legal systems, the major downside to using AI technologies is their lack of empathy, as many consider empathy a staple of the justice system. By centralizing information, AI technologies open pathways for new business ventures. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Event CoverageTop Takeaways from the US-China AI Tech Summit, Part 1 Coresight Research July 3, 2018 Executive SummaryLast week, the Coresight Research team attended the first-ever US-China AI Tech Summit, which was held in Silicon Valley. The event was cohosted by The Al Alliance of Silicon Valley, The Future Society and China’s AI Industry Alliance. Here, we share the first batch of our takeaways from the day’s discussions. The daylong event provided a platform for discussion about the adoption of artificial intelligence (AI) across industries and the challenges it presents. Panelists noted that AI holds the most potential in terms of the way it can be deployed to interact with humans, working alongside them rather than replacing them. Once people become comfortable using AI technology, its wider adoption will save time for both industries and consumers. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Insight ReportRetail-Tech Landscape: US Coresight Research July 3, 2018 Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Event CoverageFashion Tech Consortium Hosts Retail Executive Roundtable June Breakfast Event Coresight Research July 3, 2018 Executive SummaryFashion Tech Consortium, an accelerator that links together brands, retailers, manufacturers and technology companies in order to provide highly assessed, enterprise-ready tech solutions in the fashion retail industry, hosted the Retail Executive Roundtable June Breakfast, at the Amali in New York City on June 27. Michael Reidbord, Founder and Principal at Fashion Tech Consortium, organized and moderated the intimate gathering for a three-speaker series and open discussion over breakfast. Nearly 20 participants, including founders, presidents, managers and advisors from a range of retail-focused industries—from Facebook, to Brooks Brothers, to artificial intelligence (AI)-focused analytics companies—attended the invite-only breakfast event. The presentations by the three speakers ranged from the growth and meaning of AI, machine learning and deep learning, to the human inefficiencies in adopting data-driven practices in the retail space. With the increasing implementation of AI in the retail and tech worlds, as well as the shift toward new forms of corporate structures such as self-management, human skills, including emotional intelligence and individual expertise, are becoming more necessary. AI, machine learning and deep learning are part of a chain of interconnected technologies. However, more data and test cases are needed for the technology to realistically integrate into many large-scale industries. Stagnant risk- and change-averse leadership, particularly in legacy retail industries, can lead to massive revenue losses, due to slow or ineffective adoption of data-driven technologies. The event concluded with a roundtable discussion of the future of the retail industry, with a specific focus on what future practices retailers should adopt in order to keep up with digitally-native companies such as Amazon. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
Store TrackerWeekly Store Openings and Closures Tracker 2018, Week 26: O Bag to Open 100 Stores in the US Coresight Research June 29, 2018 Executive SummaryCoresight Research tracks store closures, openings and bankruptcies for a select group of retailers in the US and the UK. Our Weekly Store Tracker focuses on department stores and specialty retail stores, including, but not limited to, those selling softlines, hardlines, consumer electronics, groceries and furniture. Click here to view our full collection of Weekly US and UK Store Trackers. Highlights from this week’s Store Tracker: Year-to-date 2018, the number of US store closure announcements stands at 4,136 and the number of store openings is 1,985. O Bag, the Italian retailer, plans to open 100 stores in the US this year. PacSun has named a new President to oversee the brand’s design, merchandising, marketing, retail and e-commerce functions. Year to date in the UK, there have been 934 store closure announcements and 625 store opening announcements. The Original Factory Shop has launched a company voluntary arrangement (CVA) proposal to shut 32 stores in the UK in 2018. Waitrose will close five stores. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportIndependence Day Spending to Fall, as Fewer Americans Plan to Celebrate in 2018 Coresight Research June 28, 2018 Executive Summary This year, 216 million Americans are planning to celebrate the July 4th holiday, down from 219 million last year, according to the National Retail Federation’s (NRF’s) annual Independence Day survey, which was conducted by Prosper Insights & Analytics. Spending on food for the holiday is estimated to reach $6.9 billion this year, down 3% from 2017. More than 62% of people surveyed plan to attend a cookout or barbecue, while about 43% plan to attend fireworks displays. Only 13% of those surveyed said that they will travel over the holiday this year. The average household will spend $75.35 on food for cookouts and barbecues, up 2.6% from last year. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Insight ReportMay 2018 Monthly Consumer Update: US, UK and China Coresight Research June 27, 2018 Executive SummaryCoresight Research’s monthly reports keep you up to date on US and UK retail sales, US retail traffic and in-store metrics, selected US retailers’ same-store sales and key global consumer indicators. Click here to view our full collection of Monthly Reports. Our Monthly Consumer Update rounds up key metrics that reflect consumer demand in the US, the UK and China. We focus on direct, leading indicators of the health of the consumer economy: wage growth, price changes and retail sales growth. Highlights from our May Consumer Update: In the US,gasoline prices jumped by 21.8% year over year in May, while retail sales (ex gasoline) continued to grow strongly. In the UK, retail sales growth bounced back strongly in May. In China, food-price inflation eased further,and calendar effects contributed to a slowdown in retail sales growth. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for
Flash ReportUS Supreme Court Enables States to Collect Taxes on Online Sales Possibly Levelling the Playing Field in US Retail Coresight Research June 25, 2018 Executive Summary On Thursday, June 21, the US Supreme Court ruled that American states have the right to collect taxes on e-commerce sales regardless of the physical location of the online retailer. The decision reversed a 1992 deliberation that granted a defacto tax break for pure-play retailers. Share prices of major US online retailers were down on the day of the court ruling, although companies including Wayfair and Overstock.com discounted any major impact of the ruling on their business. Supporters of the decision said that the Supreme Court ruling put an end to an unfair fiscal advantage enjoyed by pure-play retailers and will benefit the community by generating more tax revenues for the states. Opponents said that there could be a negative impact on smaller e-commerce retailers. The impact of the Court’s decision will largely depend on how it will be implemented at the state level. Some states might introduce a minimum revenue threshold that should protect smaller players. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for
