Survey: 51% of Retailers to Invest in Mobile Technologies in 2018

In What's New, Industry News by Lauren Parker, Accessories Magazine

Shutterstock

Kabbage Business Loans is out with new data on how retailers plan to invest in technologies in 2018, including Big Data solutions, mobile technologies and social media spending. Kabbage, which provides working capital to businesses, surveyed 800 businesses for this survey. Overall, responses were optimistic, with bullish revenue projections as well as intentions to invest in companies.
Survey responses/data on retail businesses:

I expect my business to experience revenue growth of more than 20% in 2018:
Total: 73%
Brick and Mortar Retail: 67.5%
Online Retail: 73.44%

I plan to invest in technologies that will remove manual processes, reduce paperwork or improve productivity:
Total: 59%
Brick and Mortar Retail: 43.75%
Online Retail: 59.84%

I plan to invest in cyber-security tools/software to protect my company or customer data:
Total: 47%
Brick and Mortar Retail: 43.75%
Online Retail: 43.30%

I will invest in real-time analytics, or “big-data” solutions, to help me analyze my company’s data:
Total: 28%
Brick and Mortar Retail: 21.25%
Online Retail: 27.56%

I intend to invest in mobile technologies (apps, mobile advertising, automated texts, etc.) to help acquire new customers or deepen customer relationships:
Total: 51%
Brick and Mortar Retail: 45%
Online Retail: 48.03%

Next year, I will increase my advertising spend by more than 20% on social media platforms (Facebook, Twitter, Pinterest, Yelp, etc.):
Total: 49%
Brick and Mortar Retail: 53.75%
Online Retail: 44.88%

7 Takeaways from ShopTalk
"Once Upon a Springtime": Macy's Flower Show Enchants with Fairytale Theme