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7-8 Feb 2022

Miami Convention Center

Smart Retail’s Global Market Expected to Reach $48.1 Billion by 2025

According to a Global Industry Analysts report, the international market for Smart Retail is expected to reach exponential heights, clocking in at $48.1 billion by the year 2025. This number is calculated by the success in digital technologies in accordance with data and the transition of internet platforms enhancing businesses through new tech strategies.

Business Wire states, “These technologies include blockchain, mobile/5G, Internet of Things, big data & analytics, advanced logistics with built-in RFID tags & GPS, iBeacons & smart inventory management”. Some of the benefits eCommerce with physical stores or strictly brick and mortar businesses are able to experience is faster information delivery, creating a personalized shopping experience for consumers, enhanced branding, better socialization while shopping and an improved supply chain management system.

Utilizing technology such as the smart retail ecosystem (smart labels, smart payment systems, smart cameras, etc) can amplify customer retention and drive sales up. Implementation of end-to-end Smart Retail solution typically aids retailers to gain from quality, output sustainability, and overall efficiency benefits. Smart retail platforms will typically have its impact on supply chain adaptation, workforce skill alteration, and IT security, among others. Brick and mortar shops must be willing to put effort into this transition and must be open to altering current or previous business models in order to thrive in the economy’s “retail apocalypse”.

Consumers and business professionals alike are only getting a glimpse of Smart Retail tech’s potential.

Learn about the latest in Smart Retail technology news at the Smart Retail Expo held in the Las Vegas Convention Center on September 1st & 2nd. Register for free tickets today!