E-commerce forecast to be 25% of global retail by 2024

RetailWire

The total is expected to rise to $7 trillion by 2024, or 25% of retail sales, and hit $10 trillion by 2027 A Group M forecast says that global retail e-commerce will total $3.9 trillion in 2020, or 17% of global retail sales, excluding food and delivery services.

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eCommerce losses to online payment fraud to exceed $25 billion annually by 2024

Retail Technology Review

A new study from Juniper Research found that eCommerce merchant losses to online payment fraud will exceed US$25 billion in 2024, from just of $17 billion in 2020, despite the ongoing implementation of SCA (Secure Customer Authentication) in Europe.

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CBO says jobs lost to COVID-19 won’t come back until 2024

RetailWire

economy to rebound by the middle of this year but doesn’t see the job market returning to pre-pandemic levels until at least 2024. A new report from the Congressional Budget Office expects the U.S. The unemployment rate in February 2020 was 3.5 percent. The CBO projects the unemployment rate will fall to 4.2 percent in 2024-25

New Research finds the Salesforce economy will create more than $1 trillion in new business revenues and 4.2 million jobs between 2019 and 2024

Retail Technology Review

trillion in new business revenues worldwide between 2019 and 2024. in gains for every $1 Salesforce makes by 2024. Salesforce, the CRM solutions provider, has announced new research from IDC that finds Salesforce and its ecosystem of partners will create 4.2 million new jobs and $1.2 The research also finds Salesforce is driving massive gains for its partner ecosystem, which will see $5.80 Critical Issues Retail Supply Chain Internet Retailing

How Sellers Can Prepare for Holiday Sales on Walmart Marketplace | Salsify

Salsify

of all retail sales by 2024, according to eMarketer. retail ecommerce sales grew 44.5% year over year in Q2 2020 — and now are expected to reach 18.1% With COVID-19 pushing shoppers online much faster than expected, winning on the digital shelf is more important than ever. Ecommerce Strategy

Ecommerce will account for a third of all global chain retail sales in five years

Retail Technology Review

Analysts predict that 30% of global retail sales will be made through ecommerce channels by 2024, according to global ecommerce insights business Edge by Ascential at Retail Week’s Tech. festival. Internet Retailing Critical Issues

Vertical farms spring up in the Garden State

RetailWire

is expected to grow to around $3 billion a year by 2024, according to ResearchandMarkets.com.AeroFarms in Newark is the world’s largest vertical farm. It is located at the site of a former steel mill in the city. AeroFarms products include the Dream Greens brand, which is available year-round at ShopRite supermarkets in the area. Vertical farming in the U.S.

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Personalisation: a force for good in the world of retail, champions Cohaesus

Retail Technology Review

According to Gartner, by 2024, the World Health Organization (WHO) will identify online shopping as an addictive disorder. It predicts that a key driver will stem from retailers increasingly deploying AI and personalisation tactics, designed to drive greater awareness and engagement of products and services amongst consumers. . Critical Issues Retail Supply Chain Internet Retailing

Apple talking with Hyundai about electric vehicle car deal

RetailWire

Apple is moving ahead with self-driving car technology and is reported to want to include its own battery technology as early as 2024. Apple and Hyundai are engaged in early discussions about how the companies might work together on potential electronic vehicle and battery deals. Apple, which declined comment, is said to be speaking with other automakers in addition to Hyundai

McLane and UPS driving forces behind self-driving freight truck network

RetailWire

The partners are looking to begin running driverless networks next year and have the service operating nationwide by 2024 McLane, the largest wholesaler to the convenience store industry, and United Parcel Service, the largest commercial delivery service in the U.S., have teamed up with TuSimple to launch a self-driving freight network.

New £17m project aims to improve EV charging

TalkingRetail

The project, which runs until May 2024, This story continues at New £17m project aims to improve EV charging. A new £17m research project, eCharge4Drivers, has been launched to improve charging stations for electric vehicles (EVs). The eCharge4Drivers project aims to improve user experience at electric vehicle charging stations by offering new services in the hope it will help to increase the attractiveness and convenience of EVs.

Mobile Commerce Is Growing As Inhibitions Go Down

Forrester's Customer Insights

Mobile’s share in the US online retail and travel commerce will increase from 36% in 2018 to 45% in 2024, as per our recently published forecast Forrester Analytics: Mobile And Tablet Commerce Forecast, 2019 To 2024(US). Smartphone buyers are growing faster than overall online buyers, but revenue per user will be the growth driver as […]. digital business mobile technology mcommerce Mobile retail Mobile travel smartphone Tablet US

Gap to Close 350 Stores as Retailer Shifts Focus to Ecommerce and Off-Mall Operations

Retail Touch

Longer-term, the company plans to reconfigure its operations so that 80% of revenue comes from ecommerce and off-mall locations by January 2024. Gap Inc. plans to shrink its store footprint by 350 locations as the retailer works to return to profitable growth in 2021, according to CNBC.

IKEA pursuing multi-tier store strategy in U.S.

RetailWire

The company plans to have all three formats operating in five American cities by 2024. “We IKEA has built its business on the strength of its cavernous warehouse stores selling its ready-to-assemble furniture. The furniture giant is now pursuing a strategy that adds smaller urban locations and even shops to serve as pick-up points for online orders. We have been testing everything,” said Javier Quinones, president and chief sustainability officer of Ikea Retail U.S.

November 2020 COVID-19 + Ecommerce Update

ROI Revolution

Growth is expected to stay largely on target with pre-pandemic estimates through 2024, with user growth continuing to remain modest. million social media users in 2020, and that number is expected to grow to 226 million by 2024. Published December 9, 2020.

December 2020 COVID-19 + Ecommerce Update

ROI Revolution

By 2024, it is projected that more than 2/3 of search ad spend will go to mobile. Published January 4, 2021. Q1 2021 has finally begun. As we put 2020 behind us, marketers and executives aren’t leaving behind their concerns about COVID-19.

Skirting Bankruptcy, J.Jill Secures $15 Million To Pay Debts And Fund Business Plan

Retail Touch

J.Jill’s lenders have agreed to give the company an additional two years, through May 2024, to pay off its term-loan debt and to provide an investment of “no less than $15 million ” in the form of a junior term-loan facility.

Why On-Demand Manufacturing Will Transform Retail

Retail Touch

The on-demand manufacturing market is expected to reach approximately $112 billion by 2024, growing at an astounding 19.8% Since on-demand manufacturing emerged about a decade ago, it has been gradually picking up steam.

How AMP Emails are setting new records for email conversions (+cases and examples)

Email Audience

billion users in 2024. AMP for email introduced by Google has become an immensely popular topic in recent months. So what’s all the hype about? Can it increase your email conversions? How’s it different from static emails? I’m sure you have a lot of questions about AMP emails.

Gartner Predicts COVID Will Accelerate These Top 5 Digital Commerce Trends

GetElastic

Evolution of the B2B Commerce Experience: Gartner prediction: “By 2024, 15% of B2B organizations will use digital commerce platforms to support both its customers and sales reps in all sales activities.”.

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January 2021 COVID-19 + Ecommerce News Roundup

ROI Revolution

While this isn’t as pronounced of an increase as we saw in 2020 from 2019 ($600.1B), marketers and executives should note that these are levels of ecommerce that experts didn’t expect we would reach until 2024. Published February 1, 2021.

Walmart Canada Will Invest $3.5 Billion To Modernize Stores, DCs And Supply Chain

Retail Touch

DC that is already under construction in British Columbia in 2022, and build a next-generation 550,000-square-foot DC outside Toronto that is slated to open in 2024. Walmart Canada is planning a $3.5

IDC FutureScape: Omnichannel Grocery, Supplier Partnerships and AI Acquisitions Will Drive Retail Innovation

Retail Touch

By 2024, IDC expects that retailers will strengthen their partnerships with suppliers to improve supply chain transparency and reduce the environmental impact of operations by 30%.

Smart Home Challenges and Why Companies Should Care

ViiBE Blog - Retail

of homes by 2024. It is no surprise that people continue to become more and more connected every year. Technology is everywhere and connecting everyday devices in our smart homes makes routine tasks even easier. In fact, Gartner predicts that 20.4

4 Ways Ecommerce Automation Can Improve Your Online Store

Elsner

The market is set to grow by almost a third each year until 2024, with this automated approach helping to free up resources and lessen the need to rely on human workers to take care of fairly simple questions and complaints. Automation is entering a whole host of industries at the moment, so it makes sense that ecommerce operators would be just as eager to see what this approach can offer them.

How AR-Powered Solutions Can Help Your Retail Enterprise Adapt in 2021

Retail Touch

billion by 2024 — more than ten times what it is today. Retail businesses have faced myriad challenges in 2020. First came the COVID-19 outbreak, with a global recession close on its heels. Now, few experts have meaningful advice to offer beyond advising investment in ecommerce.

August 2020 COVID-19 + Ecommerce Update

ROI Revolution

Digital ad spend isn’t projected to reach pre-pandemic levels until at least 2024. Published August 31, 2020. Amazon + COVID-19. Prior to COVID-19, Amazon was estimated to net $81.2 billion in revenue in Q2 2020.

Online Grocery Shopping During the Pandemic: What Worked and What the Future Holds

Scalefast

In Italy and the US, the comparable acceleration was as if 2024 and 2023 had come early.” It’s not an understatement to say COVID-19 has been transformative for the online grocery shopping industry.

Who’s Oroinc.com? Here’s Everything You Need to Know

Ecommerce Platforms

Statista predicts B2B eCommerce to reach $3 trillion by 2024. If you are a manufacturer, wholesaler, distributor or otherwise engage in B2B sales, you can’t help but notice the trend to more online sales. That’s because today’s buyers rely more and more on the internet to do their product research. According to Forrester research, 74% of B2B buyers research more than half of their purchases online.

B2B 127

eCommerce Fraud 101: A Guide to the Risks Facing DTC Brands

Scalefast

Another study by Juniper Research estimates online merchants will lose more than $25 billion to fraud in 2024, up from $17 billion in 2020. Taking your DTC brand online opens up a world of possibilities. Increased sales, stronger customer relationships and cross-border expansion to name a few.

Digital commerce in the 5G world

GetElastic

billion by 2024. 5G is the next generation of mobile networks that will drastically increase performance and enable new use-cases across three dimensions: Massive machine-to-machine (M2M) communications will accelerate the adoption of M2M/IoT leading to emergence of many new use-cases including remote control, infrastructure monitoring, health, connected cars and many others.

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Cross-Border eCommerce Expansion During a Pandemic: Weighing the Pros and Cons

Scalefast

The Cross-border E-commerce Logistics Market report forecasts the size of the cross-border logistics industry to grow at a CAGR of more than 8% between 2020 and 2024, and generate in excess of $30 billion in revenue.

Who is Generation Alpha, and Why Are They Important to Marketers?

Neil Patel

Generation Alpha covers those born between 2010 and 2024. Every new generation brings new customs, behaviors, and cultural phenomena that shape the world as we know it. Baby boomers brought significant economic influence. Millennials taught us new ways of viewing our socio-political world.

It’s a New Playing Field: The Keys to Restructuring Your Business for Post-Pandemic Success

Retail Touch

Some industries are predicting lengthy rebound times, like air travel saying they don’t see a return to pre-COVID-19 activity until 2024. Many consumer companies were struggling before the arrival of COVID-19.

What's the difference between PBCs and Microservices?

GetElastic

The shift from monolithic commerce platforms to modular, MACH-based, composable services is well underway for many brands, manufacturers and retailers.

Facebook Attribution: A Timely Tool for Online Advertisers

ROI Revolution

We have data that forecasts these digital marketing dollars are only on pace to increase from 44% of total marketing budgets to 54% by 2024. The Situation. Every year, businesses of all types invest billions of dollars into digital marketing. Marketing Charts estimates that the online advertising market is already $30 billion larger than TV advertising.

MyyShop Review [2021]

AcquireConvert

The global retail e-commerce market size is expected to reach US$6,297 billion by 2024, growing at a compound annual rate of 12.62