The global connected retail market is anticipated to grow at a CAGR of 3.1% during the forecast period. Changing demographics, shifts in consumer preferences, technological advances, and globalization are pushing consumer and retail organizations to cut costs, offer more value, and provide better customer service. To stay competitive and drive growth, loyalty and differentiation, brick and mortar retailers – and even newcomer digital wannabees – need to hyper-personalize customer engagement and deliver superior, connected customer experiences.
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The “Connected Retail 2022” study by the EHI Retail Institute showed that retailers now offer or are planning to introduce a wide range of such connected retail services. Some instances of connected retail are:
- Real-time display of stock available in stores in the online store.
- Instore Order – the order is placed in the store and the items are delivered to the customer
- Click and Collect with in-store payment
- Click and Collect with online payment
- Click and Meet – online arrangement of consultation appointments in the store
- Instore Return – return of items ordered online in the store
- Ship from Store – delivery of articles ordered online via the store
The growing focus of retailers to deliver personalized experience to their customers has been contributing to the growth of the global connected retail market.
Global Connected Retail Market Report Segment
By Component
- Hardware
- Software
- Services
By End-User
- ZIGBEE
- Near-Field Communication (NFC)
- Bluetooth Low Energy (BLE)
- Wi-Fi
- Others (Magnetic Positioning)
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Connected Retail Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Apple Inc.
- Broadcom Crop.
- Motorola Solution Inc.
- Nokia Corp.
- Nowon Technologies Pvt. Ltd.
- NXP Semiconductors NV
- Qualcomm Technologies, Inc.
- Samsung Electronics Co. Ltd.
- SAP SE
- Softweb Solutions Inc.
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