Alternative retailing technologies market refers to the market for technologies that enable retailers to sell their products through non-traditional channels such as e-commerce, mobile commerce, social commerce, and vending machines. These technologies offer retailers new ways to engage with customers, increase sales, and improve customer experience.
Over the next 10 years, it is expected that the global alternative retailing technology industry would have a super CAGR of 25%. According to the market analysis report, with this growth rate, the market is predicted to increase from its current value of US$28.5 billion in 2022 to US$263 billion by 2032.
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In the United States, it is anticipated that the regional smart retailing technology market will increase from US$ 10 Bn in 2022 to US$ 30 Bn by 2026. The European alternative retailing technology market, on the other hand, is anticipated to maintain its second-place ranking and grow at a CAGR of 24% from US$ 7 billion in 2022 to US$ 20 billion by the year 2026.
The market for alternative retailing technologies is driven by factors such as the growing demand for convenient and personalized shopping experiences, the increasing adoption of mobile devices and social media, and the need for retailers to stay competitive in the digital age.
The market for alternative retailing technologies is segmented based on technology, application, and region. Based on technology, the market is segmented into e-commerce, mobile commerce, social commerce, and vending machines. Based on application, the market is segmented into food and beverages, consumer goods, apparel and accessories, electronics and media, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).
Some of the key trends in the alternative retailing technologies market include the increasing use of artificial intelligence and machine learning to enhance customer experience and drive sales, the growing adoption of mobile payment technologies such as mobile wallets and contactless payments, and the use of chatbots and virtual assistants to provide personalized shopping experiences.
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Alternative Retailing Technologies: Key Players
Some of the key players in the global alternative retailing technologies are as follows:
- Vend Limited
- RIBA Retail
- Tulip Retail
- Seamless Receipts
- IBM
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
Alternative Retailing Technologies Market Segmentation
Segmentation based on online technologies:
- Online 3-D virtual store
- Online shopping site
- Online store information site
- Interactive printing
Segmentation based on in-store technologies:
- Tablet Technology
- Wireless voice communication
- Guest internet access
- In-store kiosk
- Hand-held shopping assistant
- Body scanning
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