Welcome!

News Feed Item

Technological Innovation and Future of Retail Industry - How will Consumer Adoption of Technology Reshape the Retail Industry?

 

DUBLIN, Mar. 14, 2014 /PRNewswire/ --Research and Markets (http://www.researchandmarkets.com/research/w7wvqn/technological) has announced the addition of the "Technological Innovation and Future of Retail Industry - How will Consumer Adoption of Technology Reshape the Retail Industry?" report to their offering.

(Logo: http://photos.prnewswire.com/prnh/20130307/600769)

Report covers evolution of modern retail, effect of technology and emergence of omni channel retailing. The report also captures current issues retailers are facing while adopting omni channel and offers solutions to problems available through new Point of Sale terminals. The report also includes case studies of top retailers who have adopted omni channel retail.

The United States has a well-established retail industry. The retail industry has generated sales revenue of US$4.5 trillion from about 3.8 million retail establishments in 2013. Offline sales and online sales contribute to 94% and 6% of the total sales respectively.

Until early 2000's, the retail industry in the U.S. was primarily a brick and mortar system. The primary purpose of stores was to distribute products. Stores were in many cases the only means of distributing products to a specified market. Currently the brick and mortar sales are $4.25 trillion which grew at a CAGR of 2% over the last 5 years. The industry has undoubtedly witnessed slump in sales in the last five years with the emergence of ecommerce.

In the last 8 years ecommerce has played an increasingly important role in the U.S. retail industry. Electronic commerce is a type of industry where buying and selling of products or services are conducted over electronic systems such as the internet and other computer networks. The emergence of ecommerce has not affected the product prices, but has also resulted in bringing about a change in the way in which business is conducted.

The primary driver for the ecommerce industry has been the consumer adoption. Today's, consumers are increasingly embracing digital technologies and devices at all stages of their buying journey. Ecommerce gained momentum since 2005 and since then it has posed threat to the traditional retail system Current sales of ecommerce industry are pegged at $263 Billion. The ecommerce industry has witnessed a phenomenal growth of 14% CAGR in the last 5 years and is expected to grow at a compound annual growth rate of 12.5% through 2018 where as the brick and mortal retail is expected to grow at almost 1/4th of ecommerce.

To overcome this drop in sales and to compete with the ecommerce industry; traditional retailers started launching their own online stores - Multi-channel sales strategy. In this process, many retailers attempted ecommerce, by setting up online operations as standalone businesses with separate technology. The channels available to businesses were created through Internet and mobile. This drastically changed the retail landscape. For example, email, text messages, e-commerce services and technology have created new opportunities for business. These multiple channels have helped in creating a reliable distribution channel that concentrate on different demographic populations. Multichannel contributes to the rapid growth of revenue, branding, loyalty and positive word of mouth.


Key Topics Covered:

I. Executive Summary

II. Evolution of Retail industry

III. Emergence of Omni Channel Retail

IV. Case Studies (Omni Channel success)

For more information visit http://www.researchandmarkets.com/research/w7wvqn/technological

Media Contact: Laura Wood , +353-1-481-1716, [email protected]

 

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
As cloud adoption continues to transform business, today's global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, will discuss the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions with...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.