Retail and Wholesale Coverage

Artificial Intelligence (AI) In Retail Market Definition And Segments

Artificial intelligence (AI) in retail refers to the application of advanced computing technologies that simulate human intelligence to enhance and automate various aspects of the retail industry. This includes leveraging AI algorithms and machine learning techniques to analyze vast amounts of data, predict consumer behavior, optimize inventory management, personalize customer experiences, and streamline operational processes. The main components of artificial intelligence (AI) in retail are solutions and services. A solution refers to a comprehensive set of technologies, applications, or services that leverage AI to address specific challenges or enhance specific aspects of retail operations. It uses various technologies such as machine learning, natural language processing, chatbots, image and video analytics, and swarm intelligence, with multiple deployment mode include cloud and on-premise. The channels used are omnichannel, brick and mortar, pure-play online retailers, and used for customer relationship management, supply chain and logistics, in-store navigation, and inventory management product optimization. The artificial intelligence (AI) in retail market covered in this report is segmented – 1) By Component: Solution, Service 2) By Technology: Machine Learning, Natural Language Processing, Chatbots, Image And Video Analytics, Swarm Intelligence 3) By Deployment: Cloud, On-Premise 4) By Channel: Omnichannel, Brick And Mortar, Pure-Play Online Retailers 5) By Application: Customer Relationship Management, Supply Chain And Logistics In-Store, Navigation Inventory Management, Product Optimization, Payment And Pricing Analytics The artificial intelligence (AI) in the retail market size has grown exponentially in recent years. It will grow from $9.12 billion in 2023 to $11.9 billion in 2024 at a compound annual growth rate (CAGR) of 30.4%. The growth in the historic period can be attributed to growth of AI in retail, increased necessity for surveillance and monitoring, rapid implementation of AI solutions, advancements in computer vision, growing demand for efficient operations. The artificial intelligence (AI) in the retail market size is expected to see exponential growth in the next few years. It will grow to $34.09 billion in 2028 at a compound annual growth rate (CAGR) of 30.1%. The growth in the forecast period can be attributed to projected market growth, AI's transformative power, demand-side trends, favorable global market outlook, increasing competition. Major trends in the forecast period include adoption of machine learning, growing demand for ai services, enhanced user experience and productivity, regional market expansion.

Digital Transformation's Impact On AI In Retail

The digital transformation in the retail industry is expected to propel the growth of artificial intelligence (AI) in the retail market going forward. Digital transformation refers to the comprehensive and strategic integration of digital technologies, processes, and capabilities across various aspects of an organization. Retailers globally are adopting digital processes and enhancing customer experiences, resulting in an increased demand for AI solutions. This integration of AI in retail, driven by the imperative of digital transformation, fosters innovation in tasks such as automation, personalized marketing, and trend prediction, improving operational efficiency and providing insights into customer behavior. For instance, in January 2024, according to a survey of 400 respondents conducted by NVIDIA Corporation, a US-based manufacturing and technology company, 69% of retailers reported increased annual revenue with AI adoption, 72% experienced lower operating costs, and over 60% plan to boost AI investments in the next 18 months. Therefore, the digital transformation in the retail industry is driving the growth of artificial intelligence (AI) in the retail market. Major companies operating in the artificial intelligence (AI) in retail market are Google LLC, Microsoft Corporation, Amazon Web Services, Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Presto, NVIDIA Corporation, Salesforce Inc., Baidu Inc., ViSenze, Travelport, Databricks, DATAIKU, Symbotic, BloomReach Inc., Trax, Interactions LLC, Featurespace, RetailNext Inc., Trigo, Standard Cognition, CognitiveScale Inc., BrainBox AI, Inbenta Technologies, Next IT Corp., Infinite Analytics, Lexalytics Inc., Sentient Technologies

Revolutionizing Retail With AI And Cloud-Based Solutions

Major companies operating in the artificial intelligence (AI) retail market are developing advanced technologies, such as cloud-based solutions, to drive innovation and enhance efficiency in the retail sector. Cloud-based solutions refer to computing services, including storage, processing, and software applications, that are delivered over the internet (cloud) instead of relying on local servers or traditional computing infrastructure. For instance, in October 2023, Flipkart Private Limited, an India-based e-commerce company, launched Flipkart Commerce Cloud, which aims to help retailers across the world grow their businesses and solve business needs through intelligent and AI-driven solutions. This platform offers retail technology solutions for international retailers, marketplaces, and e-commerce platforms. The suite of solutions includes a complete marketplace technology stack, retail media solution, pricing solution, inventory management, and forecasting solutions, all built using artificial intelligence and machine learning

ServiceNow Enhances AI Capabilities and Expands Retail IoT Presence through Acquisition of G2k Group GmbH

In July 2023, ServiceNow Inc., a US-based provider of digital workflow solutions, acquired G2k Group Gmbh for approximately $0.5 billion. This acquisition is aimed at boosting ServiceNow's AI capabilities and broadening its footprint in the retail IoT sector, enabling the development of an AI-powered end-to-end workflow solution on the ServiceNow platform that connects real-time data and intelligence, ultimately transforming retail experiences and creating opportunities across diverse industries. G2k Group Gmbh is a Germany-based cutting-edge technology company specializing in artificial intelligence (AI) and IoT solutions for the retail industry. North America was the largest region in the artificial intelligence (AI) in retail market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence (AI) in retail market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The artificial intelligence (AI) in retail market includes revenues earned by entities by predictive analytics, personalized marketing, recommendation engines, fraud detection, visual search and recognition. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence (AI) in retail market consists of sales of computer vision, voice commerce, dynamic pricing systems, and augmented reality (AR) systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The artificial intelligence (AI) in retail market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence (AI) in retail market statistics, including artificial intelligence (AI) in retail industry global market size, regional shares, competitors with artificial intelligence (AI) in retail market share, detailed artificial intelligence (AI) in retail market segments, market trends, and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) in retail industry. This artificial intelligence (AI) in retail market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Retail Automation Market Definition And Segments

Retail automation refers to the use of innovative tools and technology to improve processes and ensure efficiency in retail operations. It encompasses a wide range of technologies and solutions that streamline standard operations, such as inventory management, point-of-sale (POS) systems, ordering software, and warehouse management solutions. The main products of retail automation market covered are point-of-sale (POS), RFID and barcode, camera, electronic shelf label, warehouse robotics, other products. In-store is used to relate to conditioning or what's available in a department store or supermarket. The products involved are in-store and warehouse which are used by various end user industries including hypermarkets, single item stores, supermarkets, fuel stations, retail pharmacies, and others. The retail automation market covered in this report is segmented – 1) By Product: Point-Of-Sale (POS), RFID And Barcode, Camera, Electronic Shelf Label, Warehouse Robotics, Other Products 2) By Implementation: In-Store, Warehouse 3) By End-Use: Hypermarkets, Single Item Stores, Supermarkets, Fuel Stations, Retail Pharmacies, Other End-Uses The retail automation market size has grown rapidly in recent years. It will grow from $17.82 billion in 2023 to $20.07 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to competitive pressures, supply chain complexity, e-commerce growth, rising labor costs, changing consumer behavior. The retail automation market size is expected to see rapid growth in the next few years. It will grow to $32.01 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to shift towards omnichannel retail, emphasis on customer experience, demand for contactless solutions, sustainability initiatives, regulatory compliance, enhanced security measures. Major trends in the forecast period include adoption of blockchain for supply chain transparency, growth of autonomous retail solutions, deployment of augmented reality (AR) in retail, emphasis on sustainability, expansion of voice commerce.

Rising Consumer Expectations Driving Retail Automation Growth.

The rising consumer expectations for faster and seamless shopping expected to propel the growth of the retail automation market going forward. Faster and seamless shopping refers to the entail’s swift transactions, streamlined processes, and minimal friction for customers, including quick checkouts, easy navigation, access to product details, and seamless payments. Faster and seamless shopping accelerates growth in the retail automation market through enhanced customer satisfaction, streamlined processes, and data-driven optimization, fostering innovation and expansion. Retail automation uses technology to streamline and expedite the shopping experience, enhancing efficiency and convenience for consumers through quicker transactions and seamless processes. For instance, in 2022, according to Ecommerce Europe, a UK-based non-profit organization, total European e-commerce grew to €718bn with a growth rate of 13%, up from €633 billion in 2020. Therefore, the rising consumer expectations for faster and seamless shopping is driving the growth of the retail automation market. Major companies operating in the retail automation market are Samsung Electronics Co. Ltd., Amazon Web Services Inc., Honeywell International Inc., Fujitsu Limited, Posiflex Technology Inc., NCR Corporation, Zebra Technologies Corporation, KUKA AG, Diebold Nixdorf Inc., Casio Computer Co. Ltd., Capillary Technologies, PAX Technology Inc., Datalogic S.p.A, Toshiba Global Commerce Solutions Inc., WiseTech Global group, First Data Corporation, Optimove Inc., Tecsys Inc., ECR Software Corporation, SandenVendo, E&K Automation GmbH, 6 River Systems LLC, Focus Softnet FZ LLC, Vinculum Solutions Pvt. Ltd., Pricer AB, Future Way Technical Services LLC, QR Retail Automation (Asia) Sdn Bhd, Napse, Kiosk & Display LLC, Wincor Nixdorf AG

Introduction Of Collaborative Robots Revolutionizes Retail Automation

Major companies operating in the retail automation market are developing advanced technologies, such as the integration of robotics and automation, to serve customers better with advanced features. Integrating robotics and automation refers to incorporating robotic systems and automated processes into various aspects of industrial operations, manufacturing, or other industries. For instance, in August 2023, Dobot, a Japan-based robotic arms producer, launched Nova collaborative robots for retail automation. The first two Nova models have 2 kg and 5 kg payloads for handling retail and physiotherapy tasks, respectively. The Nova Series has multiple safety features to sense human movement intelligently and stops operation in 0.01 seconds upon collision detection. In case of a power outage, Nova automatically freezes in position to ensure the safety of others.

EDITED Expands Retail Intelligence Portfolio With Dynamicaction Acquisition

In April 2021, EDITED, a UK-based retail intelligence technology company, acquired DynamicAction for an undisclosed amount. The acquisition provides EDITED with a loop between information and action and equips retailers with the insights needed to make better data-backed decisions, fueling the future of e-commerce and retail automation. DynamicAction is a UK-based prescriptive retail analytics solution provider that offers a platform designed to enable eCommerce, store, and omnichannel team service providers in retail automation North America was the largest region in the retail automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the retail automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The retail automation market consists of revenues earned by entities by providing services such as workflow automation, analytics automation, inventory management, point of sale (POS) software, customer relationship management (CRM) software, and e-commerce and supply chain management systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The retail automation market also includes sales point of sale systems and replacement parts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The retail automation market research report is one of a series of new reports from The Business Research Company that provides retail automation market statistics, including retail automation industry global market size, regional shares, competitors with retail automation market share, detailed retail automation market segments, market trends, and opportunities, and any further data you may need to thrive in the retail automation industry. This retail automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Smart Shopping Cart Market Definition And Segments

A smart shopping cart refers to a technologically enhanced shopping cart designed to improve and modernize the traditional shopping experience. These innovative carts incorporate various technologies and features to enhance efficiency, convenience, and overall customer satisfaction during the shopping process. The main types of components in smart shopping carts are wheels, handles, bags, frames, scanners, displays, and others. A wheel refers to the physical or digital components that enable the cart to move smoothly and efficiently within a store. This includes various technologies, such as barcodes, radio-frequency identification (RFID), and Zigbee, and can be sold through several modes of sales, including direct and distributor. These are used for various applications, such as supermarkets, shopping malls, and others. The smart shopping cart market covered in this report is segmented – 1) By Component: Wheels, Handles, Bags, Frames, Scanner, Display, Other Components 2) By Technology: Barcodes, Radio-Frequency Identification (RFID), Zigbee 3) By Mode Of Sales: Direct, Distributor 4) By Application: Supermarket, Shopping Malls, Other Applications The smart shopping cart market size has grown exponentially in recent years. It will grow from $1.33 billion in 2023 to $1.72 billion in 2024 at a compound annual growth rate (CAGR) of 28.7%. The growth in the historic period can be attributed to retail efficiency improvement, consumer convenience, contactless payments, enhanced security measures, competitive differentiation. The smart shopping cart market size is expected to see exponential growth in the next few years. It will grow to $4.32 billion in 2028 at a compound annual growth rate (CAGR) of 25.9%. The growth in the forecast period can be attributed to integration with AI and machine learning, rise of autonomous stores, global pandemic impact, sustainability focus, expansion of e-commerce integration. Major trends in the forecast period include technological advancements, data analytics integration, autonomous store development, smart cities initiatives, augmented reality (AR) features.

Surge In Retail Sector Drives Growth Of The Smart Shopping Cart Market

The increasing retail sector is expected to propel the growth of the smart shopping cart market going forward. The retail sector refers to a segment of the economy where businesses sell goods or services directly to consumers. The rector sector growth is influenced by various factors, including changing consumer behavior, increased internet shopping, and challenging economic conditions. Smart shopping carts are primarily used in the retail sector to improve the shopping experience for customers, increase efficiency for retailers, and create a more modern, efficient, and customer-centric shopping environment. For instance, in March 2023, according to reports published by the National Retail Federation, a US-based retail trade association, US annual retail sales increased to $5.23 trillion in 2023 from $4.94 trillion in 2022, and it is anticipated that retail sales will expand between 4% and 6% in 2023. Therefore, the increasing retail sector is driving the growth of the smart shopping cart market. Major companies operating in the smart shopping cart market are Walmart Inc., Amazon.com Inc., Microsoft, Mitsui And Co. Ltd., Panasonic, International Business Machines Corporation, Oracle Corporation, SAP SE, Fujitsu Limited, SK Telecom Co. Ltd., Check Point Software Technologies, Veeve Systems, Toshiba Global Commerce Solutions Inc., Carttronics LLC, Zippin Inc., Focal Systems Inc., Mashgin Inc., Nourish Technology, Inc., Imagr Ltd., Wheelys Café AB, Pentland Firth Software GmbH, Grabango Co., SuperSmart, Sensei Technologies Inc., Standard Cognition Corporation

Revolutionizing In-Store Grocery Shopping With Enhanced Personalization And Efficiency

Major companies operating in the smart shopping cart market are focusing on technologically advanced products, such as shopping carts, to deliver a personalized in-store shopping experience. Smart shopping carts are innovative shopping trolleys embedded with technology to enhance the grocery experience. They are equipped with various sensors, such as cameras, weight scales, and barcode scanners, allowing them to detect the items customers pick and display the price on a screen. For instance, in May 2022, Albertsons Companies Inc., a US-based grocery company, launched the smart shopping carts in partnership with Veeve Inc., a US-based company that focuses on shopper engagement in the retail sector. These innovatively powered shopping carts allow shoppers to scan items directly in the cart, weigh produce, and keep track of the total cost in real time. They also integrate with loyalty accounts, providing access to promotions and savings while shopping. The goal of these AI-powered carts is to increase personalization, with the potential to recognize shopping habits and recommend products or recipes. Additionally, they aim to streamline the checkout process.

Instacart's Acquisition Of Caper AI Transforming Retail With Smart Cart Innovations

In October 2021, Instacart Inc., a US-based retail company, acquired Caper AI for $350 million. Through this acquisition, Instacart aims to enhance its retailer enablement platform, offering a comprehensive solution for online and in-store commerce. This move positions Instacart to compete in the evolving retail technology landscape, especially in cashier-less checkout and smart cart innovations. Caper AI is a US-based developer of an AI-powered shopping cart designed to simplify and digitize the shopping experience. North America was the largest region in the smart shopping cart market in 2023. The regions covered in the smart shopping cart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart shopping cart market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The smart shopping cart market consists of revenues earned by entities providing services such as automated scanning, navigation assistance, seamless checkout, contactless payment options, and inventory management. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart shopping cart market also includes sales of automated scanning systems, display screens, navigation and mapping systems, and integrated payment systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The smart shopping cart market research report is one of a series of new reports from The Business Research Company that provides smart shopping cart market statistics, including smart shopping cart industry global market size, regional shares, competitors with a smart shopping cart market share, detailed smart shopping cart market segments, market trends and opportunities, and any further data you may need to thrive in the smart shopping cart industry. This smart shopping cart market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Virtual Fitting Room Market Definition And Segments

A virtual fitting room refers to a digital platform or application that allows users to try on clothing and accessories virtually. It typically uses augmented reality (AR) or virtual reality (VR) technology to superimpose digital representations of clothing items onto the user's body in real-time, often using a webcam or smartphone camera.  The main types of virtual fitting rooms are in-store virtual mirrors, app-based body scanners, and sizing surveys backed by 3D body data. In-store virtual mirrors are interactive screens that allow customers to virtually try on clothing items without physically putting them on. It includes various components, such as hardware, software, and services, and these are used for various applications, including apparel, eyewear, cosmetic and beauty products, jewelry and watches, and others, and end-users are brick-and-mortar stores and virtual/e-commerce stores. The virtual fitting room market covered in this report is segmented – 1) By Type: In-Store Virtual Mirrors, App-Based Body Scanners, Sizing Surveys Backed By 3D Body Data 2) By Component: Hardware, Software, Services 3) By Application: Apparel, Eyewear, Cosmetic And Beauty Products, Jewelry And Watches, Other Applications 4) By End User: Brick And Mortar Stores, Virtual/E-Commerce Stores The virtual fitting room market size has grown exponentially in recent years. It will grow from $5.13 billion in 2023 to $6.30 billion in 2024 at a compound annual growth rate (CAGR) of 22.9%. The growth in the historic period can be attributed to rise of e-commerce, reducing returns, enhancing brand engagement, omnichannel retail. The virtual fitting room market size is expected to see exponential growth in the next few years. It will grow to $14.18 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%. The growth in the forecast period can be attributed to consumer preferences for personalization, shift towards sustainability, regulatory environment, mobile shopping trends. Major trends in the forecast period include virtual wardrobe management, mobile-friendly experiences, integration with social media platforms, enhanced analytics and insights.

The Impact of E-Commerce Growth On The Virtual Fitting Room Market

The rapid expansion of e-commerce is expected to propel the growth of the virtual fitting room market going forward. E-commerce refers to the buying and selling of goods and services conducted over the internet or other electronic networks. The demand for e-commerce arises due to convenience, accessibility, changing consumer behavior, and evolving business strategies. E-commerce leverages virtual fitting rooms to reduce returns, enhance customer confidence, and improve conversion rates by enabling shoppers to try on clothing virtually before purchasing. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, e-commerce increased and reached the 3rd quarter of 2023 at 7.6%, compared to the 4th quarter of 2022 by 6.9%. 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the rapid expansion of e-commerce is driving the growth of the virtual fitting room market. Major companies operating in the virtual fitting room market are Zoovu GmbH, Total Immersion S.A., Fashion Fusion AG, Vue.ai Technologies Inc., WearWell Technologies Inc., True Fit Corporation, Visenze Pte. Ltd., Swivel Technologies Inc., 3DLook LLC, Fit Analytics GmbH, NexTech AR Solutions Corp., Tailor Store Sweden AB, My Size Inc., Reactive Reality AG, Virtusize AB, Fision Technologies Inc., Size Stream LLC, Zugara Inc., Trimirror Inc., StyleSpot Inc., Omnify Inc., StyleSage Inc., Coitor IT Tech Pvt. Ltd., Perfitly Inc., Metail

Innovative Solutions Drive Growth In The Mobile Virtual Fitting Market

Major companies operating in the mobile virtual fitting market are concentrating on innovative advancements such as virtual fitting room pilot to provide an immersive shopping experience and the increasing demand for accurate size and fit recommendations. This is a technology that allows customers to try on clothes virtually without physically touching or buying them. It leverages the power of technology to enable shoppers to see the size, style, and fit of items. For instance, in April 2023, Zalando SE, a Germany-based online retail company, introduced a virtual fitting room pilot to reduce return rates, provide intelligent data management, and offer a more personalized and convenient shopping experience. allowing customers to create a 3D avatar and virtually try on clothing items, particularly jeans, which are often challenging to find the right size for due to the lack of sizing standards. It offers several key features, including the ability for customers to create a 3D avatar by entering their height, weight, and gender. This avatar can then be used to try on different sizes of jeans from various brands, with a heatmap indicating whether the item sits tight or loose. Additionally, it enhances the shopping experience, particularly for challenging items like jeans, reduces returns, and also provides valuable data for retailers to improve their product offerings and inventory management. 

Walmart Enhances Online Shopping Experience with ZeeKit Acquisition

In May 2021, Walmart Inc., a US-based retail corporation, acquired Zeekit for an undisclosed amount. The Walmart's acquisition of Zeekit, is to enhance the online shopping experience for its customers, particularly in the fashion category. Through this acquisition Walmart aims to provide an inclusive, immersive, and personalized digital experience that makes it easier for customers to shop for clothes online. Zeekit Online Shopping Ltd. is an Israel-based startup and developer of virtual fitting room technology. North America was the largest region in the virtual fitting room Market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual fitting room market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the virtual fitting room market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The virtual fitting room market consists of revenues earned by entities by providing services such as catalog integration, customer support, and assistance, body measurement, scanning, visualization and rendering, and data privacy and security. The market value includes the value of related goods sold by the service provider or included within the service offering. The virtual fitting room market also includes sales of products such as integration plugins, AR/VR headsets, mobile applications, and virtual wardrobe management tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The virtual fitting room market research report is one of a series of new reports from The Business Research Company that provides virtual fitting room market statistics, including virtual fitting room industry global market size, regional shares, competitors with a virtual fitting room market share, detailed virtual fitting room market segments, market trends and opportunities, and any further data you may need to thrive in the virtual fitting room industry. This virtual fitting room market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Omnichannel Retail Commerce Platform Market Definition And Segments

An omnichannel retail commerce platform is a comprehensive, integrated technological solution that facilitates seamless and cohesive retail experiences across multiple channels and touchpoints. The platform integrates and synchronizes retail channels, enabling consistent communication, transactions, and customer interactions. The main types of solutions in an omnichannel retail commerce platform are e-commerce, order management, point of sale (POS), customer relationship management (CRM), warehouse management, retail order broker cloud service, and others. E-commerce refers to the buying and selling of goods or services over the internet. It includes different deployments by software as a service (SaaS) and on-premises and is employed in various organizations, such as small and medium-sized enterprises (SMEs) and large enterprises, and end users are consumer electronics, apparel and footwear, fast-moving consumer goods (FMCG), and others. The omnichannel retail commerce platform market covered in this report is segmented – 1) By Solution: E-commerce, Order Management, Pos(Point Of Sale), Customer Relationship Management (CRM), Warehouse Management, Retail Order Broker Cloud Service, Other Solutions 2) By Deployment: Software As A Service (SaaS), On- premises 3) By Organization: Small And Medium Sized Enterprises (SMEs), Large Enterprises 4) By End User: Consumer Electronics, Apparel And Footwear, Fast-Moving Consumer Goods (FMCG), Other End Users The omnichannel retail commerce platform market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.57 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to consumer demand for convenience, rise of mobile commerce, need for real-time inventory visibility, growth of click-and-collect services, emphasis on customer experience. The omnichannel retail commerce platform market size is expected to see rapid growth in the next few years. It will grow to $11.24 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to growth of omnichannel fulfillment options, expansion of voice commerce, emphasis on sustainability, focus on contactless payments, demand for omnichannel personalization. Major trends in the forecast period include in-store digital experiences, omnichannel marketing automation, localization and hyper-personalization, progressive web apps, subscription commerce.

E-Commerce's Meteoric Rise Igniting Omnichannel Platform Revolution

The surging e-commerce sales are expected to propel the growth of the omnichannel retail commerce platform market going forward. Electronic commerce, commonly known as e-commerce, refers to the buying and selling goods and services over the internet or other electronic networks. It encompasses a wide range of transactions, including online retail sales and online auctions. It arises because of convenience for consumers, accessibility, vast product selection, time-saving, and efficiency. E-commerce is utilized in omnichannel retail commerce platforms to create a seamless and integrated shopping experience for customers across various channels, providing retailers with the essential infrastructure and capabilities to engage with customers, drive sales, and deliver. For instance, according to the United States Census Bureau, a US-based government agency, total e-commerce sales in 2023 were $1,118.7 billion, an increase of 7.6% from 2022. Therefore, surging e-commerce sales are driving the growth of the omnichannel retail commerce platform market. Major companies operating in the omnichannel retail commerce platform market are Google LLC, Microsoft Corporation, HCL Technologies Limited, Amazon Web Services Inc., Intel Corporation, International Business Machines Corporation, Oracle Corporation, Fujitsu Limited, SAP SE, NVIDIA Corporation, Salesforce Inc., Toshiba Corporation, Infosys Limited, Baidu Inc., Block Inc., NCR Corporation, Shopify Inc., GoDaddy Inc., Diebold Nixdorf AG, Sensient Technologies, Wix.com Ltd., Lightspeed POS Inc., BigCommerce Pty. Ltd., ViSenze, LemonStand Corp.

Reliance Retail's Tira Revolutionizes Beauty Shopping With Its Seamless Omni-Channel Platform

Major companies operating in the omnichannel retail commerce platform market are focusing on developing innovative advancement platforms, such as Tira, an omnichannel beauty retail platform, to compete with other multi-brand beauty retailers and strengthen their position in the market. These platforms refer to a comprehensive approach that seamlessly integrates various channels, devices, and platforms to provide customers with a unified shopping experience in the beauty industry. For instance, in April 2023, Reliance Retail, an India-based retail company, launched an omnichannel beauty retail platform called Tira. The platform features a curated assortment of both global and home-grown beauty brands, making it a comprehensive destination for all things beauty. Additionally, this online platform is easy to navigate, with a clear and clutter-free interface that showcases shoppable videos, blogs, tutorials, trend-setting tips, personal recommendations, and a virtual try-on feature for color cosmetics.

Criteo Acquires Brandcrush To Power Omnichannel Solutions

In March 2023, Criteo S.A., a France-based advertising company, acquired Brandcrush for an undisclosed amount. The acquisition aims to accelerate offline retail media solutions and solidify its position in the omnichannel retail media landscape by providing a more comprehensive and efficient solution for retailers and brands. Brandcrush is an Australia-based omnichannel retail media technology company that offers a platform for buying and selling omnichannel retail media, including offline media channels. North America was the largest region in the omnichannel retail commerce platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the omnichannel retail commerce platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the omnichannel retail commerce platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The omnichannel retail commerce platform market includes revenues earned by entities by providing services such as inventory management, order management, return and exchange management, and customer relationship management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The omnichannel retail commerce platform market research report is one of a series of new reports from The Business Research Company that provides omnichannel retail commerce platform market statistics, including omnichannel retail commerce platform industry global market size, regional shares, competitors with omnichannel retail commerce platform market share, detailed omnichannel retail commerce platform market segments, market trends and opportunities, and any further data you may need to thrive in the omnichannel retail commerce platform industry. This omnichannel retail commerce platform market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Retail Interactive Kiosk Market Definition And Segments

A retail interactive kiosk is a self-service terminal in retail environments, featuring interactive touchscreens for customer engagement. These kiosks offer services such as product information lookups, self-checkouts, and virtual try-ons. They aim to enhance the customer experience, improve efficiency, and drive sales in retail stores. The main types of retail interactive kiosks are informational kiosks, interactive content kiosks, wayfinding kiosks, product promotion kiosks, vending kiosks, and others. Informational kiosks are interactive computer terminals or stands typically found in public spaces such as airports, shopping malls, museums, libraries, and government buildings. It includes various components are hardware, software, and services and uses various technologies, such as touch-based kiosks, gesture-based kiosks, and voice-activated kiosks. The retail interactive kiosk market covered in this report is segmented – 1) By Type: Informational Kiosks, Interactive content Kiosks, Wayfinding Kiosks, Product Promotion Kiosks, Vending Kiosks, Other Type 2) By Component: Hardware, Software, Services 3) By Technology: Touch-Based Kiosks, Gesture-Based Kiosks, Voice-Activated Kiosks The retail interactive kiosk market size has grown rapidly in recent years. It will grow from $5.78 billion in 2023 to $6.40 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to improvement in customer experience, efficiency and cost reduction, data collection and analytics, brand differentiation and expansion of omni-channel retail. The retail interactive kiosk market size is expected to see rapid growth in the next few years. It will grow to $9.45 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to integration with ai and machine learning, contactless and hygienic solutions, enhanced personalization, augmented reality (AR) and virtual try-on and expanded use cases beyond retail. Major trends in the forecast period include mobile integration, modular and customizable solutions, cloud-based management, sustainability and eco-friendly design and interactive content and gamification.

Retail Sector Driving Growth Of Retail Interactive Kiosk Market

The growing demand for the retail sector is expected to propel the growth of the retail interactive kiosk market going forward. The retail sector is the segment of the economy that encompasses businesses selling goods and services to consumers for personal or household use. This demand arises from changing consumer preferences, population growth, lifestyle changes, and disposable income. Retail interactive kiosks are used in the retail sector to enhance the customer experience, improve operational efficiency, drive sales, and gain valuable insights into consumer behavior. For instance, according to the National Retail Federation, a US-based retail trade association, annual retail sales in the USA increased from $4.61 trillion in 2021 to $4.94 trillion in 2022, indicating an increase of 7%. Therefore, the growing demand for the retail sector is driving the growth of the retail interactive kiosk market. Major companies operating in the retail interactive kiosk market are Panasonic Corporation, International Business Machines Corporation (IBM), NCR Voyix Corporation, Diebold Nixdorf Incorporated, Advantech Co Ltd., Elo Touch Solutions Inc., Acrelec Group, ZIVELO LLC, Advanced Kiosks LLC, Source Technologies LLC, Frank Mayer And Associates Inc., KIOSK Information Systems, Meridian Kiosks LLC, MetroClick Inc., Olea Kiosks Inc., Peerless Industries Inc. (Peerless-AV), REDYREF Interactive Kiosks Inc., VeriFone Inc., Pyramid Computer GmbH, Lilitab LLC, SlabbKiosks, DynaTouch Corporation of America, Kiosk Group Inc., OptConnect Holdings LLC, Storm Interface Ltd., Protouch Manufacturing Ltd., Kiosk Solutions Magazine

Samsung Introduces Innovative KMC-W Interactive Kiosk

Major companies operating in the retail interactive kiosk market are focusing on developing innovative advancements, such as KMC-W, to stay competitive and meet the evolving needs of their clients. This interactive kiosk refers to a self-service terminal or system that excels in several key areas, delivering superior functionality, reliability, and user experience. For instance, in May 2023, Samsung Electronics Co. Ltd., a US-based technology company, introduced a new high-performance kiosk built on the Windows OS, the KMC-W. This kiosk is an interactive self-service display with expanded compatibility designed to help businesses and retailers optimize the customer journey. It features an interactive 24-inch display powered by the 11th Gen Intel Core Processor. It offers high-performance computing power and compatibility with major point-of-sale and property management system software. It is also equipped with various CPU options, including Intel Celeron 6305E, Core i3, or Core i5 processors, fast 8GB of dram memory, and a 256GB SSD for greater storage capacity.

Redyref Interactive Kiosks Acquires LiveWIRE Digital To Strengthen Market Presence And Expand Service Offerings

In December 2023, Redyref Interactive Kiosks, a US-based interactive kiosk manufacturing company, acquired LiveWIRE Digital for an undisclosed amount. With this acquisition, Redyref Interactive Kiosks aims to create a more substantial market presence, a broader service offering, and enhanced capabilities in developing and delivering cutting-edge self-service kiosk solutions for their clients. Livewire Digital is a UK-based kiosk manufacturer of interactive kiosk software and services for various industries, including retail and other sectors. North America was the largest region in the retail interactive kiosk market in 2023. The regions covered in the retail interactive kiosk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the retail interactive kiosk market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The retail interactive kiosk market consists of revenues earned by entities by providing services such as product information, product catalog browsing, order placement, inventory check, language translation, loyalty program access, digital signage, and advertising. The market value includes the value of related goods sold by the service provider or included within the service offering. The retail interactive kiosk market also includes sales of touch-screen displays, computers or kiosk controllers, input devices, printers, sensors, cameras, and wayfinding systems, and navigation systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The retail interactive kiosk market research report is one of a series of new reports from The Business Research Company that provides retail interactive kiosk market statistics, including retail interactive kiosk industry global market size, regional shares, competitors with a retail interactive kiosk market share, detailed retail interactive kiosk market segments, market trends and opportunities, and any further data you may need to thrive in the retail interactive kiosk industry. This retail interactive kiosk market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Conversational Commerce Market Definition And Segments

Conversational commerce refers to a branch of e-commerce that allows customers to shop and interact with firms using chat, audio, and messaging platforms. It lets businesses connect with customers anytime through omnichannel conversations and provides important insights. Conversational commerce contributes to the creation of seamless, efficient customer experiences. The main types of conversational commerce are chatbots and intelligent virtual assistants. Chatbots refer to computer programs or software applications designed to simulate conversation with human users, especially through natural language processing (NLP) and artificial intelligence (AI) capabilities. Various components such as solutions and services are deployed based on cloud and on-premises modes by small and mid-sized enterprises (SMEs), and large enterprises. The conversational commerce market covered in this report is segmented – 1) By Type: Chatbots, Intelligent Virtual Assistants 2) By Component: Solution, Services 3) By Deployment Mode: Cloud, On-Premises 4)By Enterprise Size: Small And Mid-Sized Enterprises (SMEs), Large Enterprises The conversational commerce market size has grown rapidly in recent years. It will grow from $9.29 billion in 2023 to $11.04 billion in 2024 at a compound annual growth rate (CAGR) of 18.8%. The growth in the historic period can be attributed to increasing demand across industries, customer support and personal assistance, data privacy and compliance, rising popularity of messaging apps, rising demand for personalized customer experience. The conversational commerce market size is expected to see rapid growth in the next few years. It will grow to $16.82 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to consumer behavior analysis, global market expansion, rising demand for multilingual chatbots, increasing use of chatbots in e-commerce, rising demand for voice-enabled chatbots. Major trends in the forecast period include advancements in natural language processing, multimodal conversations, industry-specific solutions, voice assistants in iot devices, continuous learning and adaptation.

E-Commerce Expansion And Online Marketplaces Fueling Conversational Commerce Growth

The expansion of the e-commerce industry is expected to propel the growth of the conversational commerce market going forward. E-commerce, or electronic commerce, describes the exchange of products and services via the Internet. Conversational commerce can help online retailers unleash the potential of conversation to sell their products and services by facilitating engagement through AI-based text and voice assistants, social messaging apps, and other innovative conversational commerce tools. For instance, according to the United States Census Bureau, a US-based department of commerce, the US retail e-commerce reached $271.7 billion in the third quarter of 2023, which reflects a slight 0.9% increase from the $269.3 billion in sales during Q2 2023. Further, the e-commerce sales expanded much faster in Q3 2023 with a 7.8% boost versus Q3 2022. Therefore, the expansion of the e-commerce industry is driving the conversational commerce market. Major companies operating in the conversational commerce market report are Amazon Inc., Apple Inc., Google LLC, Microsoft Corporation, Facebook Inc., IBM Corporation, Oracle Corporation, Salesforce Inc., Shopify Inc., Webio Ltd., Zendesk Inc., Nuance Communications Inc., LivePerson, HubSpot, Kore.ai Inc., Intercom Inc., Drift.com Inc., Haptic Technologies Pvt Ltd., SleekFlow, Yalochat, CogniCor Technologies, Charles GmbH, Octane AI, Recart, Bobble Keyboard

Bobble AI Revolutionizes Conversational Commerce With The Launch Of Bobble Super

Major companies operating in the conversational commerce market are developing innovative products such as Bobble Super to better understand customers' needs, demands, and queries. Bobble Super is integrated with Bobble AI's AI-based keyboard, providing users with a seamless and convenient shopping experience. For instance, in March 2023, Bobble AI, an India-based conversation media platform, launched Bobble Super. This conversational commerce allows users a hassle-free, personalized, and real-time intent-based shopping experience directly on its keyboard application. Customers can order food, book flight tickets, and send gifts online to over 100 businesses like Swiggy, Redrail, Winni, and Garnier. Using cutting-edge intent recognition technology that maps users' intents across their smartphone usage in real time, the Super Keyboard app offers users personalized product and service recommendations throughout their smartphone trip.

Vonage Expands Conversational Commerce Capabilities With Acquisition Of Jumper.Ai, Strengthening AI-Enabled Customer Experiences

In October 2021, Vonage, a US-based telecommunications company, acquired Jumper.ai for an undisclosed amount. This acquisition provides Vonage with significant technology, developer-focused talent, and expertise in conversational commerce, allowing businesses to manage, measure, and monitor commercial connections with customers across all channels and turn these conversations into richer AI-enabled customer experiences. The acquisition also enables Vonage to offer more advanced communications solutions and create new, amazing customer experiences. Jumper.ai is a Singapore-based AI-powered conversational commerce platform. North America was the largest region in the conversational commerce market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the conversational commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the conversational commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The conversational commerce market includes revenues earned by entities by providing services such as customer support, ordering and purchasing, payment processing, personalized experiences, upselling and cross-selling, product catalog integration, language translation. The market value includes the value of related goods sold by the service provider or included within the service offering. The conversational commerce market also includes sales of smart speakers and smart displays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The conversational commerce market research report is one of a series of new reports from The Business Research Company that provides conversational commerce market statistics, including conversational commerce industry global market size, regional shares, competitors with a conversational commerce market share, detailed conversational commerce market segments, market trends and opportunities, and any further data you may need to thrive in the conversational commerce industry. This conversational commerce market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Online Grocery Market Definition And Segments

Online grocery refers to the digital purchase of food and household items through websites or mobile apps, with the convenience of home delivery or pickup. Online grocery shopping is a convenient, efficient, and cost-effective replacement for traditional grocery store purchases, offering a large selection of items. The main products of online grocery are fresh produce, staples and cooking essentials, ready-to-eat food, snacks and beverages, bakery and confectionery, dairy products, breakfast, and cereal. Fresh produce, encompassing vegetables, fruits, and other unprocessed plant-based items, is easily accessible through online grocery shopping—a straightforward, time-saving, and cost-effective alternative to traditional in-store shopping, offering a diverse selection of fresh food with assured quality. They can be ordered through food platforms such as mobile applications and websites and delivered with instant delivery or scheduled delivery. Online grocery shopping is used by end users such as individuals, distributors, and others. The online grocery market covered in this report is segmented – 1) By Product: Fresh Produce, Staple And Cooking Essentials, Ready-To-Eat Food, Snacks And Beverages, Bakery And Confectionery, Dairy Products, Breakfast And Cereal 2) By Food Platform: Mobile Application, Website 3) By Delivery Type: Instant Delivery, Schedule Delivery 4) By End User: Individual, Distributors, Other End Users The online grocery market size has grown exponentially in recent years. It will grow from $445.99 billion in 2023 to $542.72 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to continued growth in e-commerce, expansion of ultrafast delivery services, focus on sustainability, increased investment in last-mile logistics, enhanced payment solutions. The online grocery market size is expected to see exponential growth in the next few years. It will grow to $1180.95 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The growth in the forecast period can be attributed to internet penetration and access, advancements in e-commerce, improved logistics and delivery systems, mobile technology proliferation, COVID-19 pandemic-induced surge. Major trends in the forecast period include technology integration, focus on sustainability, enhanced customer experience, partnerships with brick-and-mortar retailers, contactless and cashless transactions.

Shifting Preferences Toward Digital Shopping For Convenience And Safety Propels The Online Grocery Market

A shifting preference towards digital shopping for convenience and safety is expected to propel the growth of the online grocery market in the coming years. Digital shopping, often known as shopping online or e-commerce, is the process of buying products or services via an internet connection using a mobile app or a website. Digital shopping in grocery stores is convenient and time-saving, allowing customers to browse, choose, and purchase goods from the convenience of their own homes, with the bonus of doorstep delivery. For instance, in February 2023, according to Eurostat, a Europe-based intergovernmental organization, in the survey, 68% of individuals aged 16 to 74 reported buying or ordering products or services online in the past 12 months, a 1% rise from 2021. Among internet users in the last 3 months, 51% were e-shoppers in 2022. Therefore, shifting preferences towards digital shopping for convenience and safety is driving the online grocery market. Major companies operating in the online grocery market report are Amazon.com Inc., The Kroger Company, Alibaba Group, Target Corporation, Koninklijke Ahold Delhaize N.V., Edeka group, Albertsons Companies, Inc., Getir, Uber Eats, Delivery Hero, Doordash, ALDI Inc., Flipkart Supermart, Just Eat, Jio Mart, Auchan SA, ASDA Groceries, Instacart, Safeway Inc., FreshDirect LLC.

Focus On B2B Memberships And Subscription Models For Enhanced Customer Benefits

Major companies operating in the online grocery markets are adopting subscription models and membership programs, such as the B2B membership platform, to better meet the needs of their existing consumers. A B2B membership platform in online grocery serves as a digital hub connecting businesses within the supply chain, facilitating transactions and collaboration among suppliers, distributors, and retailers. For instance, in October 2023, Bundl Technologies Private Limited (Swiggy), an India-based company that operates an online food ordering platform, launched Swiggy One Lite. Swiggy One Lite is a new and more economical variant of Swiggy One, the membership club, that provides advantages for meals, groceries, and pick-up and delivery services. Swiggy One Lite provides several perks, including free delivery, special deals, and discounts, for a starting price of Rs 99 for three months. One Lite is available as a B2B membership, packaged with offerings from major brand partners in the telecom and banking sectors.

Getir Strengthens Global Presence With Acquisition Of Gorillas, Consolidating Ultrafast Grocery Delivery Services

In December 2022, Getir, a Turkey-based swift online grocery startup company, acquired Gorillas for an undisclosed amount. Through the acquisition, Getir has solidified its standing as one of the few ultrafast delivery firms left in the United States and Europe. Gorillas is a Germany-based super-fast online grocery delivery company. Asia-Pacific was the largest region in the online grocery market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the online grocery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the online grocery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The online grocery market consists of revenues earned by entities by providing services such as in-store pickup, home delivery, flexible shopping, and 24/7 ordering. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The online grocery market research report is one of a series of new reports from The Business Research Company that provides online grocery market statistics, including online grocery industry global market size, regional shares, competitors with an online grocery market share, detailed online grocery market segments, market trends and opportunities, and any further data you may need to thrive in the online grocery industry. This online grocery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.