The 3rd annual Walker Sands Future of Retail Study analyzes the rise and adoption of emerging retail tech, with a heavy focus on gauging consumer reaction to potential tech game-changers (cue drones) and exploring consumer spending habits.
Retail profits are plummeting. Stores are closing. The internet is apparently taking down yet another industry. Brick-and-mortar stores seem to be going the way of the yellow pages. Sure enough, the Census Bureau just released data showing that online retail sales surged 15.2 percent between the first quarter of 2015 and the first quarter of 2016.
Avid online shoppers, who make two or more purchases online in a typical three-month period, are leading a retail revolution. These consumers are shopping more with their smartphones and demanding a more seamless experience between virtual and physical stores, according to the Fifth Annual UPS Pulse of the Online Shopper study.
Ninety-six percent of Americans are shopping online, they spend an average of five hours per week making online purchases and allocate an average of 36 percent of their shopping budgets to e-commerce.
Although a new study by Google and Singapore's sovereign wealth fund Temasek projects the Southeast Asian e-commerce market to reach $200bn by 2025, the region's air cargo capabilities remain underdeveloped, according to Cainiao, the logistics unit of Chinese e-commerce giant Alibaba.
Retailers can no longer wait to adopt BOPIS - the ability to buy online, pick up in store - according to a report from Kibo, a cloud-based omnichannel commerce platform provider. But a small percentage, only percent 7 percent, act to ensure that a sale is made.
Over the past year, prime warehouse rents are up 9.9 percent across the U.S. and up by double-digit amounts in some large urban areas, according to a recent report. E-commerce and Amazon are in no small way responsible for the development.
The latest supply-chain news, analysis, trends and tools for executives in the e-commerce/omnichannel industry — which consists of companies engaged in internet retailing, including those with auxiliary brick-and-mortar stores. Learn how e-commerce/omnichannel companies and their suppliers around the world are managing the flow of products across all channels of the enterprise. Experts sound off on forecasting and demand planning, supply-chain visibility, logistics outsourcing, inventory optimization, transportation management, warehouse management, supply-chain security, corporate social responsibility and more.
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