Smart Shopping Cart Market To Reach USD 12.5 Billion By 2032 | DataHorizzon Research
The smart shopping cart market size was valued at USD 1.3 Billion in 2022 and is expected to reach USD 12.5 Billion by 2032 at a CAGR of 25.8%.
Fort Collins, Colorado, April 28, 2024 (GLOBE NEWSWIRE) —
Integration with Omnichannel Retail Strategies
The smart shopping cart market includes innovative technological solutions that improve the shopping experience for customers while optimizing retail operations for businesses. Smart shopping carts use a variety of sensors, cameras, and connection technologies to give real-time data and analytics, streamline checkout operations, and personalize shopping experiences.
The integration of smart shopping carts with omnichannel retail strategies represents a big opportunity for the smart shopping cart market. Omnichannel commerce is delivering a consistent shopping experience across numerous channels, including in-store, online, and mobile. Smart shopping carts can help bridge the gap between online and offline shopping experiences by providing features like in-store navigation, targeted promotions, and real-time inventory information. According to the Harvard Business Review, 73% of consumers use various channels during their purchasing experience, emphasizing the significance of a unified omnichannel approach. By leveraging the data obtained by smart shopping carts, businesses may obtain significant insights into customer preferences and behaviors, allowing them to enhance their omnichannel strategy and provide a more personalized and engaging shopping experience.
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Segmentation Overview:
The smart shopping cart market has been segmented into technology, mode of sales, application, and region.
Zigbees was the largest segment and is projected to retain a leading position.
- Based on technology, the market for smart shopping cart is segmented into barcode, RFIDs, and zigbees. The Zigbees segment dominates the market and holds the major market share. Zigbees is defined as a wireless protocol that allows different smart devices, such as light bulbs, sockets, plugs, locks and sensors, to communicate with each other over a PAN (Personal Area Network). This can be utilized for controlling different devices, including the battery-powered switches for doing simple tasks such as turning on the light through the use of a mobile.
The shopping malls will grow significantly in the forthcoming years
- Based on the application, the market is segmented into supermarkets, shopping malls and others. The shopping malls held the largest market share in terms of application. These malls contains different company’s outlet stores and big super markets where a large number of people go and physically shop. This creates a long waiting line for the billing and takes time if done through manual means. With the adoption of smart shopping carts, the billing process and checking the availability of the product can be done successfully.
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Smart Shopping Cart Market Report Highlights:
- The smart shopping cart market growth is anticipated at a CAGR of 25.8% by 2032.
- The increasing demand for contactless purchasing solutions, particularly in following years of the COVID-19 outbreak, is another important driver of the Smart purchasing Cart Market. Smart shopping carts allow customers to shop without making personal contact with store staff or checkout counters, resulting in a safer and more sanitary shopping experience. According to a Mastercard study, 79% of consumers globally currently use contactless payments, demonstrating a high preference for touch-free purchasing experiences. The incorporation of contactless payment technology into smart shopping carts, together with features such as automatic checkout and digital receipts, is likely to increase acceptance of these solutions in the retail sector.
- North America has the largest market share for smart shopping carts. The region’s growth is due to increased investment and development in the region. Other factors that contribute to the region’s prosperity include technological advancements as well as a surge in e-commerce sales.
- Some prominent players in the smart shopping cart market report include Caper, Veeve Inc, Tracxpoint, Imagr, Amazon, Chahohi Incorporated, cust2mate, Retail AI, Smart Cart, V mark Enterprise Limited and others.
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