IncPres - Company News and Business Information
No Result
View All Result
No Result
View All Result
IncPres - Company News and Business Information
No Result
View All Result
Home Global

Retailers plan to automate up to 70% of routine store tasks by 2025

photoact by photoact
March 21, 2023
in Global
0
verizon-logo-640x400.jpg
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


JACKSONVILLE, FLA – The recent 2023 Connected Retail Experience Study, conducted by Incisiv in collaboration with Verizon Business, shows that retailers are prioritizing investments in technologies that improve operational efficiency to reduce costs and increase profitability.

Real-time inventory management has risen to the top of the investment agenda in the face of uncertain supply chain issues that retailers have faced for the last few years. The deployment of artificial intelligence (AI) for improving operations will also increase, with a higher percentage of specialty and department stores adopting it than grocery and general merchandise stores. The use of AI to improve operations is projected to increase 9x by 2025. Mobile point of sale (POS) and curbside pickup sensors will significantly increase deployment across all retailers, particularly among specialty and department stores. While the deployment of robotics for associate tasks is still relatively low, it will increase over the next few years, particularly among grocery and general merchandise retailers.

Retailers anticipate a significant increase in automation and expect up to 70% of routine tasks will be partially or fully automated by 2025. They expect to leverage the labor and productivity benefits by re-deploying associates to customer-facing high-value tasks (18% of retailers) and support business operations (26% of retailers).

“Improving operational efficiency is crucial for retailers in today’s competitive landscape,” said Gaurav Pant, Chief Insights Officer at Incisiv. “Automation is imminent, and retailers must embrace it to streamline processes and reduce costs.”

The increased deployment of new store technologies, adoption of cloud applications, increased customer devices, and increased in-store associate devices will test the store network’s ability to handle additional traffic, particularly when it comes from devices that require low latency and process bandwidth-heavy files.

“As the number of mobile and connected devices continues to accelerate in stores, the need for faster speeds, less network downtime and a better ability to manage peak traffic will become more critical, said Scott Lawrence, Senior Vice President Global Solutions, Verizon Business. “The key is to build a network architecture that will give in-store applications access to the right bandwidth at the right time, and enable them to scale up or down as needed.”

Incisiv and Verizon will be covering key findings from the study in an exclusive webinar Operational Efficiency in Retail: A Top Priority for 2023 on March 23, 2023 at 11am EDT.



Source link

Related

Verizon Business takes 5G Innovation Sessions to New York City

This hurricane season, Verizon readies the fleet

Verizon continues to upgrade McAllen’s best network

Tags: Verizon Communications
ShareTweetSendSharePinShareSend

RelatedNews

nyc-vz-business-5g-innovation-sessions-1230x690.jpg

Verizon Business takes 5G Innovation Sessions to New York City

by photoact
May 26, 2023
0

BASKING RIDGE, NJ - Verizon Business is bringing its 5G Innovation Sessions tour back to the Big Apple on June...

verizon-response-5-23-2023-700x393.jpg

This hurricane season, Verizon readies the fleet

by photoact
May 25, 2023
0

TAMPA, FL - With hurricane season fast approaching, Verizon’s team is working to ensure its people and assets are ready to...

verizon-logo-640x400.jpg

Verizon continues to upgrade McAllen’s best network

by photoact
May 25, 2023
0

McAllen, TX - Verizon has recently made major upgrades to the network serving customers in McAllen, TX. These upgrades are...

verizon-logo-640x400.jpg

Verizon upgrades network for Victor Valley customers

by photoact
May 24, 2023
0

VICTOR VALLEY, CA - Verizon has recently made major upgrades to the network serving customers in Victor Valley, CA. These...

PressReleases-05222022-thumbnail-Caroline-Brooks.jpg

Keep your home tech safe with Verizon Home Device Protect

by photoact
May 24, 2023
0

NEW YORK - Did you know that the average U.S. household has 22 Wi-Fi connected devices1 and spends $11,500 on...

5g-multi-view-1230x690.jpg

Verizon revs up fan experience at Indianapolis 500 with network upgrades and 5G Multi-View

by photoact
May 23, 2023
0

NEW YORK – With more than 300,000 fans expected to attend the 107th Indianapolis 500 on Sunday, May 28, 2023,...

ADANI Adani Enterprises Adani Group Aditya Birla Group Airtel Ambuja Cement Apollo Hospitals Apple Inc Aster DM Healthcare Bajaj Auto Bank of America Cigna Corporation Cognizant India Dabur India Dalmia Bharat Exxon Mobil FedEx Corp General Electric Godrej Group HAL Home Depot ICICI Bank Indian Bank Infosys Kubota Corporation L&T Mahindra & Mahindra Meta Platforms Microsoft National Aluminium Company Nestle India Royal Dutch Shell Samsung Global Saudi Aramco Standard Chartered Bank Steel Authority of India Sun Pharma Target Corporation Tata Consumer Products Tata Motors Tata Power Tata Steel UltraTech Limited Verizon Communications Voltas Limited

    © 2022 incPres.com

    No Result
    View All Result

      © 2022 incPres.com