The report analyzes deals, financing, and themes in key retail technology sectors in 2019 and how they can be leveraged in 2020
Despite the retail tech deals and financing slowed in 2019, store technologies funding is increasing since e-commerce platforms mature, according to the research.
2020 is expected to be focused on funding to AI apps in retail and consumer packaged goods (CPG). According to the statement, it will be increasingly important to bring precision, efficiency, and personalization across physical and digital retail.
The study found that in-store retail tech investment is boosting. As to the numbers, financing grew nearly 60% to $3 billion in 2019, since retailers realized the efficiency of tech when it comes to productivity and profitability improvements.
What is more, 2019 had 31 retail technology unicorn births. They connect digital and physical retail in shopper marketing, inventory tracking, and online order fulfillment.
The research highlighted that retail will become more personal, immersive, and automated in 2020. As a result, retailers and brands will have to understand their customers better and keep on searching for new retail tech options.