Global online sales set to be 20% of total by 2025: F&S
GITEX host, DWTC sees 2016 as ‘springboard’ year for IoT retail
Global retail sales could reach $23trn by 2025, with online retail sales at $4.3trn, almost 20% of the global total, according to a report by Frost & Sullivan, released ahead of GITEX TECHNOLOGY WEEK 2015.
Dubai World Trade Centre, organiser and host of GITEX, cited the Frost & Sullivan report, as it highlighted four technology areas it believed would transform regional retail over the next five years: virtual stores; augmented reality shopping; smart shelves; and robotic assistants.
"In the Middle East, 2016 will be the ‘springboard' year for widespread regional adoption of next-generation, Internet of Things-era retail technology," DWTC said in a statement.
"Shoppers across the Middle East are among the world's most connected, influential and tech-savvy purchasers," said Trixie Loh Mirmand, senior vice president, Exhibitions & Events Management, Dubai World Trade Centre (DWTC). "Regional retailers are increasingly under pressure to captivate customers and drive sales, and Internet of Things-related technology solutions will be integral in converging brick-and-mortar and online stores."