The weekly RetailTechNews report gives you recent search results from around the world. In this week's edition: retailers want to invest more in technology; retailers can win with voice on holidays; Black social leadership on Friday spending.
Retailers are willing to invest more in technology
Global retail spending will grow by 3.6% to US $ 203.6 billion (£ 159.9 billion) in 2019, with similar growth rates for the next two years, according to Gartner's latest forecast. Customer expectations and competition force retailers to develop and invest heavily in digital business transformation.
For other industries, retail has traditionally lagged behind in terms of desire for change, digital maturity and, therefore, technological spending. However, according to Gartner, this is no longer the case and retail now outperforms most other industries with regard to IT spending.
Software is the fastest growing category of technology spending (see Table 1), where executives in the retail sector are given priority AnalyticsDigital marketing, mobile applications and e-commerce platforms Artificial intelligence (AI) as the most important technologies for the organization's mission.
Gartner predicts that by 2023, Baba and Amazon will have a 40% market share in the global online market in 2017.
Retailers can win with a voice on holidays
More consumers will be switched to companies such as Alexa and Google Home to buy Christmas gifts this year by searching for them conversantEpsilon and LoyaltyOne have been revealed. According to the report, a third of consumers (31 percent) bought Christmas gifts via a voice assistant last year.
The report, which analyzed Christmas shopping trends for consumers, also showed that mobile phones are increasing Christmas shopping dominance. According to research, two-thirds (66%) of digital Christmas applications in 2017 were on the phone or tablet, up from 58% in 2016; while in-app purchases on Christmas Day rose 12% year-on-year.
The multi-tasking option is a great draw for shoppers in the field of audio and mobile. Five hundred (40%) of consumers benefit from Christmas shopping while watching TV and the third (31%) when flipping through social media. In fact, more than half of consumers (55%) have bought through the social media channel, yet only 5% (40%) of retailers currently offer social media as a channel of purchase.
While mobile shopping and new technology are on the rise, traditional shops still occupy their place at Christmas. 88% of consumers still make in-store purchases during the Christmas period – but marketers should not consider these in-store experiences separate from online shopping.
According to research, 46% of consumers start shopping at the store and then buy online. While more than half (58%) surf the Internet and buy their Christmas shopping at the store. For those marketers who want to target younger shoppers, the vast majority (78%) are revealed to shop in their online and online store.
Black social leadership on Friday spending
Social networks have strengthened their role as the product research channel on an annual basis, increasing by 39% since 2015, according to a GlobalWebIndex study. This is driven by innovations in product search functions across platforms such as Instagram, and recently introduced Product Tags To support the discovery of the original product.
Today, 42% of global Internet users research brands, products, and services through social networks, placing them behind search engines only 10 percentage points. Moreover, 49% of the UK and 53% of American consumers are now shifting through social platforms. The most popular platform is Facebook, with 39% of respondents in the UK saying they made a purchase.
The same research highlights that when it comes to black Friday campaigns and cyber campaigns in Cyber, social shopping trends swell by 66% in the UK, with only a quarter of respondents saying they would not buy through social media, even after seeing a sales offer during a holiday Weekend discount.
One of the most popular platforms to buy after seeing Black Friday or Cyber Monday is Instagram. A quarter of respondents in the UK identify a better product offer as a key reason for their selection of the buying platform. This increases to 31% in the US According to GlobalWebIndex data, globally, mobile payments are increasing steadily every quarter and growing by 14.7% since 2015.