RETAIL TREND RESEARCH

THE RETAIL REVOLUTION

Retail Trend Report

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WHAT’S NEXT?

With SONAR Trend Platform Reply is able to create an overview and mapping of relevant trends related to Retail Technology based on their occurrence within expert media articles, mass media, patents and scientific publications. Discover more about Reply’s survey on Retail Trends!

the changing retail sector

Trends in retail are characterized by a shift from hype to maturity, retailers are using new technologies with a clearer business focus. Technologies that have previously been considered in a marketing and experimentation context are increasingly being used to create concrete commercial value.

The main changes that the retail sector has undergone recently can be summarized as follows:


the changing retail sector the changing retail sector

What is trending in the retail market?

Here's an overview and illustration of the relevant trends around the Retail Sector, based on their appearance in trade media, mass media, patents and scientific publications.


Future retail technology trends Future retail technology trends

The arrow in the illustration above implies a typical trend development and a life cycle from a small and growing trend – which is discussed in relatively few scientific articles and publications – to a larger, established trend with stagnating growth, which has long been discussed in various media and has shifted from niche circles into the mainstream.


MAIN FOCUSES

Leading trends are evolving around virtual and augmented reality for retail (V-Commerce), the use of data, machine learning and advanced analytics (Data-driven Enterprise) as well as the increasing use of voice assistants, chatbots and other digital interfaces in engaging with consumers (Human-centered Interfaces). Across all relevant trend fields, Chinese retailers and technology firms have developed into industry thought leaders and pioneers in execution. Companies like Alibaba, Tencent and JD demonstrate that the distinction between physical and digital retail is a thing of the past.

V-COMMERCE

V-</br>COMMERCE

V-COMMERCE: TECHNOLOGY MEETS RETAIL

Virtual reality shopping is giving consumers the convenience of online shopping and the experience of being in a store at the same time – in order to experience stores, products and service in a whole new way. With the help of VR or AR applications customers will be able to try and test products – at home or in-store – more easily, and in a more personalized or gamified manner. Virtual reality technology will play a secondary role, while augmented reality apps will continue being the forefront, according to Stewart Rogers, author and analyst at VentureBeat. In his opinion, "dealers who don't discover mobile AR for themselves within the next six months will lose ground".


By 2020, 3% of eCommerce
revenue will be generated
because of AR experiences,
a total of $122 billion in
revenue worldwide.
ABI Research

V commerce
V commerce

DATA-DRIVEN ENTERPRISE

DATA-DRIVEN ENTERPRISE

DATA-DRIVEN ENTERPRISE: THE ART OF CREATING VALUE FROM DATA

The exponential growth of data is forcing companies to find fast and efficient ways to process and analyze them. By turning relevant data into useful insights, companies could come up with tailored solutions for internal processes and their customers alike. Having data-driven strategies via advanced business analytics, operational intelligence and machine learning, is a must for companies to preserve and leverage their position. The biggest players in the market are right now Nvidia, Google and Sentient, but some trending players are already on their heels: Cambricon, Cerebras and ByteDance.


The major investments in this
field were made for example by
Salesforce. The company
acquired the AI startup
Datorama for approximately
$800 million. Nvidia invested
$42.5 million in ABEJA, a
company that develops
business solutions for retailers
using AI and deep learning.

Data driven enterprise
Data driven enterprise

HUMAN-CENTERED INTERFACES

HUMAN-CENTERED INTERFACES

HUMAN-CENTERED INTERFACES: ELIMINATE BARRIERS WITHIN THE CUSTOMER EXPERIENCE

The smartphone already allows us to take the digital world everywhere we go, leaving just a few taps on a touch screen between us and the real immersion. Now, human-centered interfaces such as voice and gesture-controlled digital assistants are removing this last barrier and leading into an era of a much more natural form of communication between humans and machines. In retail, this transformation will significantly alleviate obstacles within the customer experience, speed up communication and information access, and enable far more intimate and emotional customer relationships.


More than 5 Billion consumer
devices supporting Digital
Assistants will be in use in
2018, 3 Billion more will be
added by 2021.
IHS Markit 2018

1 in 5 consumers have made a
voice purchase through a home
assistant, and another third plan
to do so in the next year.
Walker Sands’ 2017 Future of
Retail Report

Experiencial retail trends
Experiencial retail trends

CHINA COMMERCE

CHINA</br> COMMERCE

CHINA COMMERCE: ASIA KNOWS OUR FUTURE

The era of “New Retail” that Alibaba founder Jack Ma envisioned is a seamless fusion of offline POS, digital technologies and next-level logistics for a dynamic new retail world supported by mobile online payment. China's e-commerce platforms are evolving into a new world order of retail, and their primary currency is data. Among the booming trends in Chinese retail are new payment methods. Chinese stores and services are increasingly centered around mobile payment apps like WeChat Pay and Alipay.


Alibaba invested $2.9 billion in
Sun Art Retail in 2017, which
operates several well-known
supermarket brands.

Google invests $550 million on
China's second-largest
e-commerce player JD.com,
working together to develop
better retail infrastructure in
multiple markets.

E commerce platforms in china
E commerce platforms in china

REPLY AND RETAIL

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SONAR

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