[January 15, 2018] |
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Zebra Technologies-IHL Group Study Reveals Retail Industry Sales to Grow Three Percent Annually Through 2021
Zebra
Technologies Corporation (NASDAQ: ZBRA), the market leader in rugged
mobile computers, barcode scanners and barcode printers enhanced with
software and services to enable real-time enterprise visibility, today
revealed the results of its 2017 Retail Transformation Study, a body of
research examining the current and future retail
marketplace in North America, Europe, the Middle East and Africa (EMEA).
The study, conducted with IHL Group, a global research and advisory firm
for the retail and hospitality industries, highlights the transformation
of the retail sector as the model evolves to better serve consumers. IHL
projects retail industry sales to rise three percent annually through
2021 led by a shift to greater ecommerce/omnichannel sales volume. Zebra's
customers are also investing more in technology and growing faster than
the industry average.
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http://www.businesswire.com/news/home/20180115005103/en/
Zebra Technologies (News - Alert)-IHL Group Study Reveals Retail Industry Sales to Grow Three Percent Annually Through 2021 (Graphic: Business Wire)
KEY SURVEY FINDINGS
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IHL projects the North American and EMEA retail markets to each
grow approximately three percent over the next five years to $5.5
trillion and €4.4 trillion in sales respectively. Ecommerce is
projected to eclipse $1.5 trillion by 2021.
-
2017 saw more retail store openings than closures and store
openings are expected to outpace closures through 2021. IHL
research estimates that the enterprise retail market (more than 50
stores) had 4,080 net stores opening through October 2017. In fact, 42
percent of retailers had a net increase in stores while only 15
percent had a net decrease.
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IHL projects technology spending among retailers to rise
approximately three percent over the next three years as retailers
continue to evolve their operations to support unified commerce and
provide a modern, engaging customer
experience for today's savvy, empowered shoppers.
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Mobility is a driver for most surveyed retailers who plan to
invest in mobile barcode or thermal printers,
handheld barcode scanners and mobile
computers within the next three years.
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Zebra's customers are retail leaders and growing faster,
prioritizing key technologies and spending more on information
technology (IT) than the broader market to make the shopping
experience more convenient and drive operational productivity.
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Retail leaders are investing two-to-three times more than the
average retailer in IT transformation and associate training and
tools. They are also more focused on increasing inventory
visibility and lowering supply chain costs.
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In the Department Store/Specialty Store/Mass Merchant segment,
retailers that are growing their business with Zebra are reporting
64 percent higher revenue growth, 135 percent higher store growth,
33 percent more store remodels and 53 percent more enterprise IT
spend than the surveyed industry average.
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In the Grocery, Convenience Store, Pharmacy and Supercenter retail
segments, Zebra customers are increasing their IT spend at a rate
232 percent higher than the surveyed industry average while
growing stores at a rate 60 percent higher and remodeling stores
at a 22 percent higher rate.
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Store and fulfillment operations are transforming dramatically to
adapt to evolving retail models. Among surveyed North
American retailers expecting growth of more than five percent, 60
percent cited faster sales growth as a key driver for changes in store
operations while 52 percent cited the shift in sales to online
purchases. Interestingly, 52 percent identified same-day delivery as a
key warehouse operations driver as consumer demand is encouraging
retailers to improve the in-store returns process and enhance their
fulfillment and delivery strategies.
SURVEY BACKGROUND AND METHODOLOGY
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In coordination with the IHL Group and Peerless Insights, a custom
research agency, Zebra's Retail Transformation study included detailed
interviews with leading retailers, 400 online surveys and an
additional study of 1,800 publicly- and privately-held retailers
across 9 retail segments.
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The interviews and surveys were conducted between July and October
2017..
SUPPORTING QUOTES
Greg Buzek, Founder and President, IHL Group "In North
America alone, retail sales are set to rise to more than $5.5 trillion
by 2021, so it's critical retailers are equipped to meet customer
expectations. Consumers used to 'Have to Shop' and now they must need to
'Want to Shop' at stores. Retailers that are focusing on the customer
experience, investing in better training of associates and integrating
IT systems across channels will be the ones that will continue to
succeed."
Jeff Schmitz, Senior Vice President and Chief Marketing Officer,
Zebra Technologies "Zebra's Retail Transformation study
confirms that the key growth drivers in retail are multi-channel
retailing, in-store connected technology and connected store associates.
It is critical that retailers continue investing in the shopping
experience and operational efficiencies. Understanding the retail
transformation underway allows retailers to invest in the right
technology now to meet the evolving demands and needs of their customers
and ultimately earn more of their business."
ABOUT ZEBRA
With the unparalleled operational visibility Zebra (NASDAQ: ZBRA)
provides, enterprises become as smart and connected as the world we live
in. Real-time information - gleaned from visionary solutions including
hardware, software and services - give organizations the competitive
edge they need to simplify operations, know more about their businesses
and customers and empower their mobile workers to succeed in today's
data-centric world. For more information, visit www.zebra.com
or sign up for our news
alerts. Follow us on LinkedIn,
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and Facebook.#
# #ZEBRA and the stylized Zebra head are trademarks of ZIH Corp.,
registered in many jurisdictions worldwide. All other trademarks are the
property of their respective owners. ©2018 ZIH Corp. and/or its
affiliates. All rights reserved.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180115005103/en/
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