The retail technology week in numbers

The retail technology week in numbers

5…Cash-only businesses have less than five months to switch to accepting cards before shopper expectations change, according to research from Paymentsense.

15,000…Health and beauty retailer A.S. Watson Group has opened its 15,000th store.

$4.5 billion…Annual revenues from blockchain retail asset tracking will hit $4.5 billion by 2023, according to Juniper Research

$300 millionMcDonald’s is set to acquire Dynamic Yield, a machine learning startup based in Tel Aviv, for $300 million. 

5Ocado has inked a partnership agreement with Australia’s Coles Group, its fifth major overseas deal in the past couple of years.

39% of consumers would consider switching to another retailer after two bad experiences with a brand. 

That’s according to a Thunderhead study which surveyed 4,000 shoppers in the US and UK. Four out of five dissatisfied consumers turn to social media to share their frustrations. Of these, 20% said they’d go on to share these experiences with more than five people.

6,400…Customer ratings have become an increasingly important evaluation tool for almost every kind of consumer purchase globally, according to research from Simon-Kucher involving 6,400 consumers in 23 countries.

46%…Constant access to shopping channels is contributing to 46% of consumers citing “too many options” as a reason for not completing a purchase, according to Episerver research

60% of UK consumers are more likely to repeat-purchase from a brand or retailer that communicates with them directly after a sale, according to Narvar research

It’s survey of 2,000 people also found that when a customer is expecting to hear from a company after a sale, but they are passed along to a different business, such as a third-party delivery company or carrier, they feel ‘catfished’.

£1.23 billion…UK shoppers are putting aside Brexit concerns to splash out £1.23 billion on Mother’s Day celebrations, cementing its position as the most value trading event outside of Christmas, according to Savvy Marketing research.

$740 million…Intercontinental Exchange’s forthcoming institutional trading platform Bakkt has snagged a $740 million valuation after it raised over $180 million in funding last year.

15Google has announced a new digital skills training programme aimed at UK bricks and mortar retailers.

A Google Digital Garage tour will start in May and will visit at least 15 High Street destinations across the country. The search giant has partnered on this with the Federation of Small Businesses and the Department for Business, Energy and Industrial Strategy.

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