HTEC Retail Roundups examine retail technology trends, digital retail innovations, and disruptive products shaping the Retail & CPG industry.
E-commerce in 2020 was record-breaking, trend to continue
We barely survived 2020. Now what? It has never been harder to predict the year ahead. It’s no surprise that the pandemic has transformed the way we shop—but the change has happened fast. Adobe Analytics predicts that 2020 will be a breaking year for e-commerce, with consumers spending $189 billion online during the holiday season (up 33% year over year). As it seems, 2021 will continue the digital trend. Read the 5 Digital Commerce 360’s predictions that we agree with 100% »
Touchless payments in demand at physical stores
Let’s not bury physical shopping just yet. PYMNTS’ report How We Shop: Winning The Digital-First Shopper, done in collaboration with, PayPal, shows that consumers will be ready to come back to physical stores on the condition that retailers enable online payments, saved credit cards and other touchless payment options, orders, and curbside pickups.
U.S. retailers investing in supply chains for speed, agility
How can the fashion industry become more resilient, more agile, and more sustainable in the years to come? Fashion and apparel brands are (finally) rethinking their supply chains. RIS explores the three key trends that will shape the course of the industry. According to Bain & Company’s research, more than 90% of US retailers and consumer goods companies plan to invest in their supply chain networks to improve speed and agility.
Advice for the rapid shift to digital retail
Amid an intense digital race, what should retailers consider when making the rapid shift to digital? How do you abandon old business models and transform into a technology and data-driven innovation leader? Retailers need to meet their customers on their digital playground, offering personalization as well as convenient payment and delivery options. According to Business Reporter, “Companies committed to a future in retail are prepared to leverage data, machine learning, and AI technologies to keep up with changing business practices.”
Farfetch, Alibaba merge for luxury shopping channel
Three digital retail giants are joining forces to create a global luxury retail channel. Farfetch, Alibaba Group, and Richemont will launch luxury shopping channels on Alibaba’s marketplaces, looking to the rapidly growing demand for luxury products in China via the seamless integration of digital and physical experiences. Farfetch and Alibaba will merge via a single integration, according to Alizila, thus allowing Farfetch to extend its reach to Alibaba’s 757 million consumers.
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