Retail technology worldwide - statistics & facts
Technology has significantly influenced numerous aspects of modern shopping, both online and offline. Since the introduction of barcodes in the 1970s, the retail industry has continuously adopted and adapted to ongoing technological advances to streamline various aspects of their operations, from in-store processes to inventory management, procurement, warehousing, distribution channels, and payments. Yet when we talk about retail technology today, what is often meant is the deployment of emerging technologies like A, IoT, and immersive experiences such as AR and VR in retail operations. Over the past years, the financing of businesses developing retail technologies received a total funding of almost 300 billion U.S. dollars. The majority of these deals took place in Asia and North America.
