The New Retail Reality
The COVID pandemic forever changed shopping as we know it. We’ve seen human behaviors change virtually overnight due to the impact of COVID. In fact, 60 percent of global customers changed their shopping behaviors since the onset of the pandemic.
This simple human shift of being at home vs. being “out” had a ripple effect through nearly every business, across every vertical. Many companies were forced to rethink entire business models, including retailers.
Suddenly technologies that had previously been more nascent in retail became an essential lifeline to the industry’s survival. 3D product catalogs, augmented reality try-ons, personalization with artificial intelligence (AI), grocery shopping all within your email inbox, shoppable video these emerging technologies suddenly became hallmarks of a pandemic shopping experience. Retailers saw firsthand how these tools can inspire audiences and help bring the best of brick-and-mortar online. Consum
From:ChinaDaily | 2021-05-05 13:17
Shanghai kicked off its 2021 International Cosmetic Festival on Wednesday, part of a series of ongoing campaigns to spur consumption nationwide.
The monthlong event, co-hosted by Shanghai s Municipal Commission of Commerce and the government of Jing an district, aims to enhance the metropolis allure as a global hub for beauty and skincare products, organizers said in a press release.
A total of 24 cosmetics brands, including international labels Tom Ford and Sisley, as well as homegrown marques Chando and Perfect Diary, will roll out new offerings during the extravaganza.
Li Jiaqi, a household name known for recommending cosmetics through livestreaming, was selected as ambassador.
by Product (Temperature Patch, Blood Glucose Patch, Blood Pressure Patch, Heart Rate Patch & ECG Patch, Skin Care Patch, and Others) and End Use (Healthcare and Fitness and Sports): Global Opportunity Analysis and Industry Forecast, 2020–2027. According to the report, the global wearable patch industry generated $12.23 billion in 2019, and is expected to reach $27.82 billion by 2027, witnessing a CAGR of 9.6% from 2020 to 2027.
Prime Determinants of Growth
Technological advancements, surge in consumer awareness, and increase in prevalence of chronic diseases drive the growth of the global wearable patch market. However, expensive nature of sensor patch and concerns regarding data privacy and security hinder the market growth. On the other hand, increase in adoption of telehealth and demand for the connected wearable patches present new opportunities in the coming years.