Australian Retail Technology Report, 2016–2021

Australian Retail Technology Report, 2016–2021

Australian Retail Technology Offers Sizeable Growth Opportunities

RELEASE DATE
11-Oct-2017
REGION
Asia Pacific
Deliverable Type
Market Research
Research Code: P931-01-00-00-00
SKU: HC02905-AP-MR_20948
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Description

Retail technology investment in Australia is projected to record a CAGR of 28.8% from 2016-2021 largely driven by evolving consumer requirements and intensifying retail competition from international entrants and new business models. These factors are set to raise standards across both the front and back ends of retail technology. Current investments mostly involve forward-thinking retailers looking to capitalise on technologies such as BDA, cloud computing, and AI. Spending is expected to reach 4.58 billion by 2021 Retail technology innovation and implementation in Australia lags behind that of other developed countries. While investments in retail technology in Australia are significantly lower than the United States, spending is likely to increase, particularly in the areas of digital signage, point-of-sale systems, big data analytics (BDA), cloud computing, and artificial intelligence (AI). The change is being driven by multiple factors, including the entrance of international participants such as Amazon, and evolving consumer spending behaviour. The online retail space continues to gain popularity, accounting for A$21.65 billion in revenue in 2016 with 10.4% year-over-year (y-o-y) growth. The proliferation of mobile and tablet devices in Australia as well as software development to complement online transactions are key drivers. While most consumers continue to make purchases at physical stores, the online channel allows them to instantly cross-check products and prices among multiple retailers. Existing investments in legacy systems are likely to be the biggest hurdle to retail technology adoption. Apart from compatibility issues, the systems are less agile and responsive compared to cloud-based competitors. The retail industry could see extensive testing of retail technology in the next 12-18 months, demonstrating the value proposition and retail application of these technologies. Led by larger retailers, the industry is heading towards omnichannel adoption to better interact with digitally-empowered customers in a seamless and personalised manner. In the next 5-7 years, Frost & Sullivan predicts the emergence of start-ups in the areas of robotics, AI, and AR, providing valuable tailored solutions for the retail sector. Amazon’s entrance is set to have a massive impact on retailers in the market, prompting them to rethink their retail strategy. It is imperative for retailers to become less conservative and continually adapt to remain relevant in Australia’s future retail landscape. Long-established retail players are under increasing pressure from more technologically-integrated competitors to improve their customer offerings and not lose out on market share. New entrants to the market, supported by cloud-based CRM and mPOS systems, are gaining increasing acceptance from domestic consumers. Large retailers are reviewing their legacy systems to integrate retail technology and provide more value to customers.

Table of Contents

Key Findings

Key Findings (continued)

Retail Technology Investment

Market Study Definition & Scope

Scope and Purpose of Report

Scope of Technology Coverage

Understanding Store-based Retail Components

Understanding Non-Store-based Retail Components

Understanding Retail Technologies

Understanding Retail Technologies (continued)

Understanding Retail Technologies (continued)

Understanding Retail Technologies (continued)

Understanding Retail Technologies (continued)

Market Drivers

Drivers Explained

Market Restraints

Restraints Explained

Snapshot of the Australian Retail Sector

Australian Retail Environment

Australian Retail Environment—Arrival of Amazon

Australian Retail Environment—Characteristics

Introduction of Retail Technology in Australia

Introduction of Retail Technology in Australia (continued)

International Retail Entrants in Australia

Case Study—Apple Store Experience

International Retail Entrants in Australia

Retail Sector in Australia

Retail Landscape in Australia

8 Key Retail Trends in Australia

8 Key Retail Trends in Australia (continued)

mPOS

mPOS (continued)

mPOS (continued)

Case Study—Alipay

Case Study—7-Eleven-Plexure

mPOS

Radio-Frequency Identification

Radio-Frequency Identification (continued)

Radio-Frequency Identification (continued)

Case Study—Coles Supermarkets

Beacon Technology

Case Study—Scentre Group-Westfield

Beacon Technology

Beacon Technology (continued)

Beacon Technology (continued)

Digital Signage

Digital Signage (continued)

Digital Signage in Retail

Case Study—Hive by Laminex

Big Data Analytics

Big Data Analytics (continued)

Big Data Analytics (continued)

Big Data Analytics (continued)

Case Study—Woolworths

Artificial Intelligence

Artificial Intelligence (continued)

Artificial Intelligence (continued)

Robotics

Robotics (continued)

Case Study—Commonwealth Bank-Stockland

Case Study—Lakeba Shelfie

The Future of Robotics

Augmented Reality and Virtual Reality

Augmented Reality and Virtual Reality (continued)

Case Study—AR Uses in Australian Retail

Retail Technology Ecosystem—Profile of Participants

Retail Technology Ecosystem—Profile of Participants (continued)

Retail Technology Ecosystem—Profile of Participants (continued)

Retail Technology Ecosystem—Profile of Participants (continued)

Retail Technology Ecosystem—Profile of Participants (continued)

Retail Technology Ecosystem—Profile of Participants (continued)

Retail Technology Ecosystem—Profile of Participants (continued)

Retail Technology Ecosystem—Profile of Participants (continued)

Ecosystem of Retail Technology Participants

Ecosystem of Retail Technology Participants (continued)

Retail Technology—Competitive Landscape

Growth Opportunity

Strategic Imperatives for Success and Growth

Future Retail Ecosystem—IoT in Australian Retail

What’s Next for Australia’s Retail Market?

Retail Technology Market Outlook

Legal Disclaimer

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Retail technology investment in Australia is projected to record a CAGR of 28.8% from 2016-2021 largely driven by evolving consumer requirements and intensifying retail competition from international entrants and new business models. These factors are set to raise standards across both the front and back ends of retail technology. Current investments mostly involve forward-thinking retailers looking to capitalise on technologies such as BDA, cloud computing, and AI. Spending is expected to reach 4.58 billion by 2021 Retail technology innovation and implementation in Australia lags behind that of other developed countries. While investments in retail technology in Australia are significantly lower than the United States, spending is likely to increase, particularly in the areas of digital signage, point-of-sale systems, big data analytics (BDA), cloud computing, and artificial intelligence (AI). The change is being driven by multiple factors, including the entrance of international participants such as Amazon, and evolving consumer spending behaviour. The online retail space continues to gain popularity, accounting for A$21.65 billion in revenue in 2016 with 10.4% year-over-year (y-o-y) growth. The proliferation of mobile and tablet devices in Australia as well as software development to complement online transactions are key drivers. While most consumers continue to make purchases at physical stores, the online channel allows them to instantly cross-check products and prices among multiple retailers. Existing investments in legacy systems are likely to be the biggest hurdle to retail technology adoption. Apart from compatibility issues, the systems are less agile and responsive compared to cloud-based competitors. The retail industry could see extensive testing of retail technology in the next 12-18 months, demonstrating the value proposition and retail application of these technologies. Led by larger retailers, the industry is heading towards omnichannel adoption t
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Audrey William
Industries Healthcare
WIP Number P931-01-00-00-00
Is Prebook No
GPS Codes 9523-D1,9528-C1,9610,9656,9658,9702-C1,9705-C1,9885-C1,9AA5-C1