innovation trends in global retail and payments 2017 · 9 innovation trends in global retail and...

INNOVATION TRENDS IN GLOBAL RETAIL AND PAYMENTS 2017 PUBLICATION DATE: OCTOBER 2017

PAGE 2 GENERAL INFORMATION I PAGE 3 KEY FINDINGS I PAGE 4-6 TABLE OF CONTENTS I PAGE 7 REPORT-SPECIFIC SAMPLE

CHARTS I PAGE 8 METHODOLOGY I PAGE 9 RELATED REPORTS I PAGE 10 CLIENTS I PAGE 11-12 FREQUENTLY ASKED QUESTIONS

PAGE 13 ORDER FORM I PAGE 14 TERMS AND CONDITIONS

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Innovation Trends in Global Retail and Payments 2017

Report

B2C E-Commerce

Global

Australia, Brazil, China, France, Germany, Italy, Japan, Mexico, South

Korea, UK, USA

English

PDF & PowerPoint

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QUESTIONS

ANSWERED

IN THIS REPORT

What are the leading technology innovations in global retail and payment industries?

Which market trends arise from emerging technologies such as Internet of Things and Artificial

Intelligence?

How are chatbots and virtual assistants utilized by merchants and consumers?

How does the use of innovative payment methods such as mobile wallets and virtual currencies

vary across selected top markets?

What are the main uses of the blockchain technology according to global payments and financial

services professionals?

SECONDARY MARKET

RESEARCH

Our reports are exclusively based on secondary market research. Our researchers derive

information and data from a variety of reliable published sources and compile the data into

understandable and easy-to-use formats.

ADVANTAGES Maximum Objectivity

Reliable Sources

Up-To-Date Analysis

Boardroom-Ready PowerPoint Presentations

Guidance For Strategic Company Decisions

INNOVATION TRENDS IN GLOBAL RETAIL AND PAYMENTS 2017

RETAIL AND PAYMENT INNOVATION TRENDS

The rise of technologies such as Artificial Intelligence, Augmented Reality and Virtual

Reality, the Internet of Things and blockchain has disrupted retail and payments along with

other industries. Both consumers and businesses are adopting these innovative

technologies, resulting in a number of trends which are covered in the yStats.com report.

Among them, the trend of conversational commerce arose from the latest

developments in artificial intelligence and machine learning. Consumers can now shop by

giving voice commands to virtual assistants such as Amazon’s Alexa, Apple’s Siri, and Google

Assistant. A double-digit share of shoppers in developed markets such as the USA and the

UK already report they would purchase less in physical stores and through traditional web

browsing because of the new technology, according to a recent survey cited in yStats.com’s

report. Besides virtual assistants, smart chatbots also come to consumers’ help in finding

the relevant product or services and placing orders, all inside a messenger app. The cost

saving for businesses through the use of chatbots are projected to explode to several billion

dollars by 2022.

The Internet of Things is another technological innovation expected to make a great

impact on the retail industry. According to a projection cited in the yStats.com report, more

than nine in ten newly designed electronics products will have the IoT technology. Among

other developments, IoT powers emerging retail solutions such as automatic

replenishments and checkout-free convenience stores, for example, Amazon Dash and

Amazon Go.

In payments, the deployment of NFC contactless technology has enabled in-store

payments through mobile wallets, such as Apple Pay, Android Pay and Samsung Pay. Mobile

payments are especially popular in emerging markets such as China, although the advanced

economies of North America and Europe also witness the proliferation of smartphone

payments, according to market statistics cited in yStats.com’s report. The technology behind

another innovative payment method, virtual currency, known as blockchain, has also found

application in the finance and payment industry such as for improving payment

infrastructure and fraud detection. Industry surveys reveal that the use of artificial

intelligence, machine learning and biometrics are also on the innovation agenda in

payments.


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MANAGEMENT SUMMARY

TOP INNOVATION PREDICTIONS & MOST INNOVATIVE COMPANIES

Global: Top 10 Technology and Innovation Predictions Through 2022, October 2017

Global: Technologies Perceived as Most Disruptive for Industries and Business Models for the Next Five Years

According to Business and Technology Executives, in % of Respondents, 2016

Global: List of Top 50 Most Innovative Companies, 2016

INNOVATION TRENDS IN E-COMMERCE & RETAIL

3.1. CONVERSATIONAL COMMERCE: CHATBOTS AND VOICE-ACTIVATED VIRTUAL ASSISTANTS

Global: Chatbot Trend Overview & Examples, October 2017

Global: Annual Cost Savings from Chatbots, in USD million, 2017e, 2019f & 2022f

Global: Share of Companies Which Launched Chatbots or Plan to Launch, in %, H2 2016

Global: Top Platforms Preferred for Building Chatbots, in % of Respondents Among Businesses, January 2017

EMEA: Share of Senior Sales and Marketing Executives Using Chatbots for Customer Interactions, in %, 2016 & 2020f

UK: Predicted Uses of Chatbots and Barriers to Usage, in % of Consumers, May 2016

France: Breakdown of Awareness and Intention to Use Chatbots, in % of Consumers, November 2016

Germany: Share of Consumers Who Could Imagine Using Chatbots, in %, and Interest in Potential Chatbot Uses, in %

of Consumers Who Could Imagine Using Chatbots, November 2016

USA: Breakdown of Likelihood of Purchasing Products/Services from Brands Using a Chatbot, in % of Millennial

Internet Users, December 2016

Global: Voice-Activated Virtual Assistant Trend Overview & Example, October 2017

Global: Share of User Interactions with Smartphone via Virtual Personal Assistants, 2019f

Global: Top Uses of Voice-Activated Virtual Assistance Devices, in % of Virtual Assistant Users, by the USA and the UK,

by Gender, April 2017

Global: Perceived Influence of Voice-Activated Virtual Assistance Devices on Shopping Behavior, in % of Virtual

Assistant Users, by the USA and the UK, by Gender, April 2017

Global: Breakdown of Experience With Voice-Activated Ordering, in % of Generation Z Shoppers, March 2017

3.2. AUGMENTED REALITY AND VIRTUAL REALITY IN SHOPPING

Global: Augmented Reality and Virtual Reality in Shopping Trend Overview & Examples, October 2017

Global: Industry Spending on AR/VR in Retail Showcasing, in USD million, 2017e & 2021f

Global: Industries Expected to Benefit the Most form AR According to Global Business and IT Professionals, in % of

Respondents, November 2016

Global: Share of Consumers in Selected Countries Who Heard about VR/AR and Would Consider Shopping Using

VR/AR, in %, March 2017

USA: Interest in Possible Shopping Uses of AR/VR, in % of AR/VR Users, July 2017

USA: Product Categories Which Consumers are Willing to Shop via AR, in % of Consumers, August 2016

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TABLE OF CONTENTS (1 OF 3)

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INNOVATION TRENDS IN E-COMMERCE & RETAIL (CONT.)

3.3. INTERNET OF THINGS IN RETAIL: CHECKOUT-FREE SHOPPING AND AUTOMATIC REPLENISHMENT

Global: Checkout-Free Store Trend Overview & Examples, October 2017

Asia: Overview of Selected Automated Convenience Stores in Asia, July 2017

Global: Share of Internet Users Who Believe Automatic Checkout Will be Important in the Future, in %, July 2017

USA: Breakdown of the Likelihood of Trying Amazon Go, in % of Consumers, by Gender, Age Group and Total,

December 2016

Global: Automatic Shopping Replenishment Trend Overview & Examples, October 2017

Global: Share of Internet Users Who Believe Online Automatic Replenishment Would be Important to Their

Experience in the Future, in %, July 2017

Global: Share of Generation Z Shoppers Interested in Automatic Replenishment Programs, in %, March 2017

PAYMENT INNOVATION TRENDS

4.1. OVERVIEW OF INNOVATIVE TECHNOLOGIES IN PAYMENTS

Global: Overview of Selected Innovative Technologies in Payments, October 2017

Global: Most Relevant Technologies for Global FinTech and Financial Companies to Invest In, in % of

Respondents, April 2017

Global: Most Relevant Emerging Technologies for Large FinTech and Financial Companies to Invest In, in % of

Respondents in Each Group, April 2017

4.2. MOBILE WALLETS & CONTACTLESS MOBILE PAYMENTS

Global: Contactless Payment Transaction Value, in USD billion, 2017e & 2019f

Global: Number of Contactless Payment Users of Android Pay, Apple Pay, and Samsung Pay, in millions, 2015 - 2017f

China: Share of Internet Users Who Use Mobile Payment in Physical Stores, in %, 2016

China: Payment Transactions Processed via Offline QR Code Scanning, in CNY billion, Q1 2016 - Q1 2017

Australia: Mobile Contactless Payment Awareness, in % of Individuals, by Total and by Generation, December 2016

USA: Proximity Mobile Payment Transaction Value, in USD billion, 2016 - 2021f

USA: Penetration of Apple Pay, Android Pay and Samsung Pay, by Enrolled, Have Used and Frequent Users, in % of

Compatible Device Owners, January 2017

USA: Merchant Mobile Wallet Ownership, in % of Banked Smartphone Users, and Merchant Mobile Wallet Apps

Used, in % of Merchant Wallet App Users, January 2017

Western Europe: Mobile Payment Transactions, in EUR billion, 2016 & 2021f

Western Europe: In-Store Mobile Payment Share of Total Mobile Payment Value, in %, 2016 & 2021f

Europe: New Technologies That European Multichannel Retailers Are Taking Advantage of, in %, January 2017

Europe: Share of Millennials Using Mobile Payment Service from PayPal and Apple Pay, in %, by Germany, Italy, the

Netherlands, and the UK, July 2016

UK: Breakdown of Frequency of Using Mobile Phone to Make Contactless Payments In-Store, in % of Smartphone

Users, By Age Group, Gender and Total, 2016

France: Breakdown of Belief in That Smartphone Will Become the Main Mean of Payment by 2025, by Payment

Amount, in %, December 2016

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PAYMENT INNOVATION TRENDS (CONT.)

4.2. MOBILE WALLETS & CONTACTLESS MOBILE PAYMENTS (CONT,)

Latin America: Share of Consumers Interested in In-Store Mobile Payments, in % of Surveyed Consumers, by Brazil

and Mexico, June 2016

Middle East: Share of Consumers in the Middle East Who Would Opt for Alternative Payment Methods, in %, and

Selected Alternative Payment Methods They Would Opt for, incl. “Mobile Wallet”, in %, May 2016

4.3. ARTIFICIAL INTELLIGENCE & VOICE PAYMENTS

USA: Examples of AI-based Advanced Analytics Usage in Payments and Banking, October 2017

USA: Voice Payment Users, in millions, and Penetration, in % of U.S. Adults, 2017 - 2022f

USA: Payment Transactions Carried Out Using Voice Command, in % of Voice Users, April 2017

4.4. BIOMETRIC AUTHENTICATION

Global: Mobile Payment Security Features Demanded by Consumers and Implemented by Businesses, in %, 2016

Global: Security Authentication Features That Online Shoppers in the USA and the UK Would Consider Setting Up for

Online Purchases in the Next 12 Months, in %, November 2016

USA: Innovative Authentication Technology for Making and Receiving Payments in 2027 According to U.S.

Consumers, in % of Consumers, June 2017

Europe: Top Locations Where Consumers Would Want to Use Biometric Authentication for Payments, in % of

Respondents, May 2016

UK: Services that Adults Would be Most Comfortable Using Biometric Identification for, incl. “Authorizing Payments”,

in %, September 2015

Germany: Usage of and Interest in Mobile Payments In-Store and Payments Based on Biometric Identification In-

Store, in % of Consumers, and in % of Retailers, May 2016

South Korea: Breakdown of Preferred Method of Authentication in Convenient Payment Services, in % of Users,

October 2016

4.5. BLOCKCHAIN & VIRTUAL CURRENCY

Global: Status of Adoption of Blockchain Technology Among Global FinTech and Financial Companies, in % of


Global: Business Use Cases for Blockchain According to Global FinTech and Financial Companies, in % of


Global: Blockchain Trends Expected to be Most Important for the Payment Industry According to Industry

Participants, in % of Respondents, April 2017

Europe: Share of Internet Users Who Believe that Digital Currencies Are the Future of Spending Online, in %, by

Selected European Countries, Australia, and the USA, April 2016

Japan: Breakdown of Awareness of Virtual Currencies, in % of Internet Users, and Interest in Using Them, in % of

Internet Users Who Know Virtual Currencies, May 2016

Japan: Locations for Current/Intended Use of Virtual Currencies, incl. “Online Shopping”, in % of Internet Users Who

Are Aware of Virtual Currencies and Are Interested in Using Them, May 2016

USA: General Payment Methods Used, incl. Online and Mobile Methods, in % of Internet Users, March 2016



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REPORT-SPECIFIC SAMPLE CHARTS

GENERAL METHODOLOGY OF OUR MARKET REPORTS Secondary Market Research

The reports are compiled based on secondary market research.

Secondary research is information gathered from previously published

sources. Our reports are solely based on information and data acquired

from national and international statistical offices, industry and trade

associations, business reports, business and company databases,

journals, company registries, news portals and many other reliable

sources. By using various sources we ensure maximum objectivity for all

obtained data. As a result, companies gain a precise and unbiased

impression of the market situation.

Cross referencing of data is conducted in order to ensure

validity and reliability.

The source of information and its release date are provided on

every chart. It is possible that the information contained in one chart is

derived from several sources. If this is the case, all sources are mentioned

on the chart.

The reports include mainly data from the last 12 months prior

to the date of report publication. Exact publication dates are mentioned in

every chart.

Definitions

The reports take into account a broad definition of B2C E-

Commerce, which might include mobile commerce. As definitions may

vary among sources, exact definition used by the source (if available) is

included at the bottom of the chart.

Chart Types

Our reports include text charts, pie charts, bar charts, rankings,

line graphs and tables. Every chart contains an Action Title, which

summarizes the main idea/finding of the chart and a Subtitle, which

provides necessary information about the country, the topic, units or

measures of currency, and the applicable time period(s) to which the data

refers. With respect to rankings, it is possible that the summation of all

categories amounts to more than 100%. In this case, multiple answers were

possible, which is noted at the bottom of the chart.

Report Structure

Reports are comprised of the following elements, in the following

order: Cover page, preface, legal notice, methodology, definitions, table of

contents, management summary (summarizing main information

contained in each section of report) and report content (divided into

sections and chapters). When available, we also include forecasts in our

report content. These forecasts are not our own; they are published by

reliable sources. Within Global and Regional reports, we include all major

developed and emerging markets, ranked in order of importance by using

evaluative criteria such as sales figures.

Notes and Currency Values

If available, additional information about the data collection, for

example the time of survey and number of people surveyed, is provided in

the form of a note. In some cases, the note (also) contains additional

information needed to fully understand the contents of the respective data.

When providing information about amounts of money, local

currencies are most often used. When referencing currency values in the

Action Title, the EUR values are also provided in brackets. The conversions

are always made using the average currency exchange rate for the

respective time period. Should the currency figure be in the future, the

average exchange rate of the past 12 months is used.

METHODOLOGY OF OUR INNOVATION TRENDS IN GLOBAL RETAIL AND PAYMENTS 2017 Report Coverage

This report is about innovation trends in global retail and

payments. It includes a selection of major market trends arising from the

latest technological innovations, provides examples and cites relevant

market statistics. While the main focus was on innovations that influence

E-Commerce, online and mobile payments, the information in this report

also includes trends that blur the line between tradition brick and mortar

retail and E-Commerce.

Report Structure

The first chapter summarizes some top predictions regarding

technology and innovations in general, unveils expectations of global

business leaders and ranks top 50 companies from various industries

which are described as most innovative.

The remaining two sections in the report are devoted to

innovation trends in retail and payments.

The retail chapter focuses on consumer-facing innovations

employed by online and store-based retailers. Innovations primarily

aimed at optimizing processes for merchants, such as warehouse

automation and drone delivery, were not covered. The presented

innovations are grouped into the following trends: conversational

commerce (including chatbots and voice-activated virtual assistants), the

use of augmented reality and virtual reality in shopping, and the Internet of

Things in retail (including automated checkout-free stores and automatic

replenishment). An overview of each innovation is included, followed by

examples and related market statistics, such as survey results and

projections. Global market statistics are presented first, where available,

followed by insights from selected top markets in various global regions.

The payment chapter focuses on selected innovation trends in

consumer payments. It opens with an overview of selected major

innovative technologies and their application in the payment sector and a

ranking of most relevant technologies invested in by global FinTech and

financial companies. This section provides an explanation of each of the

four innovation trends subsequently covered with examples and market

statistics in the remaining sections: mobile wallets and contactless

payments, artificial intelligence and voice payments, biometric

authentication, blockchain and virtual currency. The statistics include the

results of consumer and business surveys, as well as market projections,

where available. The geographical coverage includes global information

and highlights from selected top markets.


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Global Online Payment Methods: First Half 2017

Europe Online Payment Methods: First Half 2017

Asia-Pacific Online Payment Methods: First Half 2017

Global Alternative Online Payment Methods: First Half 2017

Global Mobile Payment Methods: First Half 2017

Global Mobile Wallets 2017: Competitors and Market Opportunities

Apple Pay Profile 2017

Samsung Pay Profile 2017

Android Pay Profile 2017

Global M-Commerce 2017

Asia-Pacific M-Commerce 2017

Europe M-Commerce 2017

Asia-Pacific B2C E-Commerce Market 2017

China B2C E-Commerce Market 2017

India B2C E-Commerce Market 2017

South Korea B2C E-Commerce Market 2017

Southeast Asia B2C E-Commerce Market 2017

Western Europe B2C E-Commerce Market 2017

Europe B2C E-Commerce Market 2017

Latin America B2C E-Commerce Market 2017

September 2017

October 2017

March 2017

June 2017

August 2017

January 2017

January 2017

January 2017

January 2017

June 2017

June 2017

June 2017

June 2017

May 2017

May 2017

June 2017

May 2017

July 2017

July 2017

October 2017

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Top 5 Country B2C E-Commerce Country Sales Forecasts: 2017 to 2021

Global Online Payment Methods: Second Half 2017

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innovation trends in global retail and payments 2017 · 9 innovation trends in global retail and...

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