Alternative Retailing Technologies Market Segments, Opportunity, Growth and Forecast By End-use Industry 2016-2026
Modern people prefer to be able to shop anywhere at any time and location at affordable prices and multiple options of delivery. Retailers are expected to offer comprehensive product information, product reviews, and inventory visibility and availability. With technology changing from ecommerce to multichannel retailing, Omni channel retailing is the latest retailing technology which provides an integrated real time shopping experience to the customers which means that whether a person shops from a desktop or a mobile or a store, the feeling of shopping and the experience will be similar. Big companies like Starbucks, Disney, and Bank of America among others have adopted Omni channel retailing. New technology like hand held shopping assistance, a palm-size device for in-store shopping is gaining momentum in the global alternative retailing technologies market. Radio frequency identification technology for tracking items is being adopted to improvise logistics, inventory and also the customer experience. Technology like self-scanning for speedy checkout of items purchased, 3D view of the products, and point of scale are expanding. Such technology improvements offer retail marketers to develop sales value more effectively.
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Alternative Retailing Technologies Market: Drivers and Restraints
Upgraded service and convenience, enhanced selection and product information drives the global alternative retailing technologies market. Changing behavior of the modern day customers towards shopping experience is one of the key driver for alternative retailing technologies. The easy mode of payment with in-hand delivery and technology with seamless experience on web mode and in-store provides further impetus for the growth of the global alternative retailing technologies market.
Alternative Retailing Technologies Market Segmentation:
Segmentation based on online technologies:
Online 3-D virtual store
Online shopping site
Online store information site
Segmentation based on in-store technologies:
Wireless voice communication
Guest internet access
Hand-held shopping assistant
Alternative Retailing Technologies Market: Region Wise Outlook
The alternative retailing technologies market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Japan, Western Europe and North America are expected to register above average CAGRs during the forecast period owing to the advance technologies and awareness about the retail scenario in the regions. Also, Asia Pacific Excluding Japan, Middle East & Africa markets are projected to grow steadily due to a versatile nature of demand in the market.
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Alternative Retailing Technologies: Key Players
Some of the key players in the global alternative retailing technologies are as follows:
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