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Digital solutions are the defining trend in retail. This applies equally to personalised customer communication, improved shopping experiences or the optimisation of supply chain and business processes.

Therefore, in the Retail Sales Monitor 2/2023, we look at which technological developments are currently shaping retail the most and where retailers are placing their investment priorities in the coming years.

Important technologies in retail

  • The retailers surveyed name artificial intelligence (AI) or machine learning (52 percent) and seamless checkout (41 percent) as the most important technological developments in the next three years.
  • 56 percent of the food retailers surveyed are pursuing projects in the area of seamless checkout (self-scanning, self-checkout, autonomous stores). In fashion retail, this topic is only of secondary importance at 15 percent. Analytics and data excellence play an important role here (54 percent).
  • 69 percent of retail companies already use AI applications - mainly for analytics in the area of forecasting and replenishment, but also for product pricing or customer dialogue.
  • The topic of cyber security is becoming increasingly relevant for retailers due to the rapidly advancing technology - but also due to growing concern. 78 percent have noticed an increase in cyberattacks on their company. In order to increase IT security, retailers rely most heavily on raising awareness among employees. 

The newsletter also explains in detail how the IT budgets of retail companies have developed and which pilot projects are being tested in the area of "Grab & Go" (shopping without the checkout process).

Development in the first quarter of 2023

The German economy slipped into recession in the first quarter. This is due to lower government and private consumer spending as a result of continued high inflation - the strongest price drivers remain food and energy. For the retail sector, this means a price-adjusted decline in turnover of 5.2 percent. E-commerce has to accept a stronger decline in turnover than stationary trade.

All data and facts on the economic situation and the development in the German retail sector in the first quarter of 2023 are provided by the current Retail Sales Monitor. In addition, as usual with detailed analyses of the business development in the areas of food, non-food, fashion, consumer electronics, DIY as well as mail order and online retail.

Together with the EHI Retail Institute in Cologne, we highlight the developments, trends and drivers of the industry four times a year in the KPMG Retail Sales Monitor. You can subscribe to our newsletter here.

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