While e-commerce sales have been growing, year-to-year declines in conversion and add-to-cart rates are continuing. Retailers need to pay greater attention to personalization and relevant product recommendations to combat these declines and ensure that they remain successful.
In a sign that 3D printing is entering the mainstream, Staples will go live with an online 3D printing platform, allowing consumers and small businesses to upload 3D designs or choose from preselected models.
An influx of sensors relating to Internet of Things technology is generating a growing volume of data to feed the predictive supply chain, and informs not only operational decisions, but also helps analyze the behavioral patterns of workers.
Although the day is young and the hype is heavy, American consumers are not very enthusiastic about using digital wallets. High-powered marketers like Apple, Samsung, PayPal and Google are offering their own versions - and with the support of many banks - but only 2 percent of Americans actually use digital wallets.
Describing radio frequency identification labels as a "learning tool," Peltz Shoes has stopped using the technology, primarily because of high costs related to the passive tags, and changed to a barcode system.
Could it be that the Internet of Things is actually under-hyped? Yes - it could have a total economic impact between $3.9tr and $11tr a year by 2025, including $410bn to $1.2tr per year in retail environments.
Walmart is out to improve the quality of product information available to consumers on the internet - particularly from social media sources - with a supplier data collection program that will launch later this year.