Happy Friday, another week in the books and it was a big one for us here at RetailWit!
This week, we celebrated our first birthday with a “year in review” post. It was a huge milestone for RetailWit, as well as for us personally as we have watched our idea turn into something real – we are so happy to have you as a reader and look forward to an exciting year two!
Now, on to the top retail stories we are talking about this morning:
Walmart adds to their eCommerce toolkit
Walmart continues to focus on their delivery business, as well as show some innovation with a new app. Walmart announced a 24/7 home delivery “smart” receptacle from HomeValet and an e-shopping tool from Sifter SP that enables customers to find foods matching their dietary needs. The HomeValet smart box has three sections to keep frozen, refrigerated and dry goods separate – another interesting addition to the delivery business Walmart is clearly intent on winning.
Mobile Ad Spending on track to hit $350B in 2022
Consumers globally spent 3.8 trillion hours on mobile in 2021, with 70% of that on social and photo or video apps. Not surprisingly, ad spending is growing to get a piece of that growth, as mobile ad spending saw 23% year-over-year growth in 2021, reaching $295 billion, according to App Annie’s State of Mobile 2022 report out this week. They are predicting that mobile ad spending will hit $350 billion by the end of 2022. And just in case you hadn’t seen already, TikTok ranked as the No. 1 most-downloaded app globally, followed by Instagram and facebook.
Acosta released their CPG outlook, highlighting key trends
Looking back at the many changes in consumers’ lifestyles and shopping habits over the past two years, Acosta’s leadership team assessed implications for the marketplace – and the overall marketing environment – going forward. What’s interesting is they highlight both “purposeful at-home eating” and “a rebound in dining out” – signifying that we are trying to eat better at home but still look for opportunities to go out for food. It’s a great POV on trends to watch going forward.
Wakefern adds checkout-free stores
Wakefern is leveraging artificial intelligence (AI)-based frictionless checkout technology from Israeli computer vision solutions provider Trigo at select grocery locations. Shoppers at the stores will use an app to scan a QR code as they enter, and then will be free to pick up items and leave without having to checkout, as there is no exit gate. There are other technologies Wakefern has been working on, including outdoor pickup pods and delivery robots.
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