retail

New report reveals bots are surging!

Germany's retailers are caught in a squeeze:

Retailers, take note! A new BCG & WRC study shows a stark contrast:

• Innovation leaders invest 13% of revenue, see 21% ROI.
• Lagging retailers invest 3%, see only 9% ROI.

The message? Innovate heavily or get left behind. Top priorities for innovation leaders:

Around 88% of Belgian shoppers are concerned about their purchasing power, according to a new study by Aldi. The survey of 1,000 Belgians found consumers are increasingly relying on private labels, promotions and discounts to free up budget for discretionary spending. While 97% plan to watch household budgets closely this year, nearly half intend to save even more than in 2023. Grocery shopping is seen as the second biggest opportunity to save money after energy bills.

While grocery price inflation dips, UK shoppers remain cost-conscious:

• Retailers plan to invest heavily in AI this year, with many doubling their IT budgets.
• Survey finds AI is seen as a driver of innovation, reduced risk, and sales growth.
• Top challenges include ensuring data accuracy, cybersecurity, and privacy.
• AI is being used to improve customer experience, personalize marketing, and develop new products.

A new survey reveals both the promise and the peril of generative AI in retail:

The importance of efficiency, the rise of retail media, and the need to deliver on sustainability are among the key retail trends identified by IGD’s team of global insight leaders for the year ahead.

Technology will be a retail industry investment priority for 2024. That's according to a survey of 100 retail executives from large companies conducted by IT consulting and digital services provider Softstream and Wakefield Research in which 99% of respondents predict a surge of technology investments to happen this year.

Despite economic uncertainties and consumer frustration around high prices this year, the economy showed robust growth, presenting both challenges and opportunities for brands.