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Before the pandemic prompted closures of retail stores around the globe, eMarketer had forecast that 2020 worldwide retail sales would reach $26.46 The magnitude of the downturn and pace of recovery will be harder on the retailmarket than the Great Recession,” according to an article on the eMarketer site.
The experts agree, predicting that global AI in the retailmarket will surpass $24 billion by 2028 , growing at 24.4% Yet many retailers haven’t begun leveraging AI to its fullest potential. Few things have disrupted the ecommerce industry of late quite as thoroughly as AI.
Retailers need to consider their capacity to manage logistics and the value of faster delivery to their customer base. Drop Shipping Model Drop shipping is where a retailermarkets a product, collects payment from the customer, and then orders the item from a supplier/wholesaler. ” says Gilmore.
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