The retail technology week in numbers
1.9%…May continued the 2019 trend of below-average UK online sales growth, with just +1.9% year-on-year (YoY), according to research by IMRG and Capgemini.
£217.7 billion….The UK food and grocery industry will grow by £24.1 billion, or 12.5%, by 2024, bringing the market to a total value of £217.7 billion, according to IGD.
$29.2 billion…JD.com made $29.2 billion in sales during its annual 6.18 shopping festival, a record high for the Chinese e-commerce giant.
43 and 24…Neiman Marcus is rolling out Alipay. The Chinese mobile payments service is now available at the US retailer’s 43 Neiman Marcus department stores and two of its Bergdorf Goodman locations. It will also be accepted at 24 Neiman Marcus Last Call outlets.
26% of UK businesses have seen digital transformation projects fail, according to research by Econocom.
A$1 billion…Coles, Australia’s second-biggest grocery chain, is looking to technology to help it achieve A$1 billion ($685.40 million) in cost savings by financial year 2023.
81%…RetailEXPO, which took place in London during May, pulled in record numbers of senior level retail decision makers, with 81% of attendees authorising or influencing buying decisions for retail solutions.
£13 million…Black Sheep Coffee has raised £13 million from private investors, bringing the indie retailer’s total funding to £25 million since launching in 2013.
76%…We Brits do enjoy a moan, particularly when we’ve had a bad online shopping experience, a new study from Brightpearl reveals.
It surveyed 2,000 people and found that almost a third have left a negative review online, with nearly seven in ten having done so in the last year. 76% will also share a bad retail experience with someone else they know to warn them off a particular brand.
82%…Almost 25 years since Tesco launched its Clubcard, a new report from Hawk Incentives shows that loyalty schemes are as popular as ever in the UK.
The company surveyed 2,500 Brits and found that 82% currently subscribe to at least one loyalty programme. The founding grocery fathers still dominate the market, with 81% saying they subscribe to a supermarket loyalty card scheme. Coffee shops and restaurants take the second and third spots respectively.
$1.8 trillion…China will overtake the US to become the world’s largest grocery market by 2023 (in value terms), according to IGD Asia. The country’s total market size will reach CNY11.0tn ($1.8 trillion), more than Asia’s next four largest grocery markets (India, Japan, Indonesia and South Korea) combined.
90% of consumers will abandon an online shopping session just because it is slow. And when they leave, they buy from a competitor, often Amazon, and likely won’t return to the offending site.
That’s according to research conducted by Retail Systems Research (RSR) on behalf of Yottaa, involving the likes of American Eagle Outfitters, Bed Bath & Beyond and Levi Strauss, and 1,300 consumers.
