Loss Prevention Research Council Weekly Series - Episode 62 - Coronasommia and the Rise of IoT
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
Retail sales to exceed $4.44 trillion in 2021, as NRF revises annual forecast upward
https://chainstoreage.com/retail-sales-exceed-444-trillion-2021-nrf-revises-annual-forecast-upward
First some good news directly from Chain Store Age and the National Retail Federation.
NRF has revised one of its most closely watched forecasts upward, anticipating “the fastest growth the U.S. has experienced since 1984," as consumer spending accelerates.
The NRF on Wednesday forecast that 2021 retail sales will total between $4.44 trillion to $4.56 trillion, up from $4.02 trillion in 2020. (The NRF numbers exclude automobile dealers, gasoline stations and restaurants.).
In addition, NRF now projects full-year GDP growth to approach 7%, compared with the 4.4% and 5% forecasted earlier this year.
Online grocery shopping grows amid ‘pandemic-induced channel stickiness’
https://www.supermarketnews.com/online-retail/online-grocery-shopping-grows-amid-pandemic-induced-channel-stickiness
From Supermarket News, here is the latest on shopping online for groceries.
About 60% of U.S. consumers now buy groceries online, and the same percentage of these shoppers plan to do so at the same frequency or more once the COVID-19 crisis subsides, according to a new study by Coresight Research.
The research confirms that Walmart and Amazon are still dominating online grocery sales, but respondents to the survey reported that for the last 12 months, they are shopping online less at these retail giants when comparing trends between 2020 and 2021.
In the past 12 months, just over 53 of those polled bought groceries online at Amazon ( down -9% from the 2020 survey), while nearly 51% did so at Walmart (-2.6% from 2020).
Higher online grocery sales growth is being registered by the next three major USA retailers. 28.3% of respondents were buying grocery online at Target, up 5.4% from 2020. 17.3% were shopping at Costco for food items, up 2.1%, and interestingly because they are part of Amazon, 14.5% of respondents were buying online at Whole Foods, up 1.3%.
Coronasomnia: COVID-19 and How It Affects Our Nightly Z’s
https://infographicjournal.com/coronasomnia-covid-19-and-how-it-affects-our-nightly-zs/
A new disease has arrived because of the pandemic. It’s called Coronasomnia.
An infographic from Mediclick illustrates how the COVID-19 pandemic is affecting our sleeping patterns.
In a global survey of 60 countries, 46% have experienced poor sleep during the pandemic.
Causes include:
- Blurred boundaries between work and personal life. 42% of employees report feeling more stressed with remote work during the pandemic.
- A falling out with the circadian rhythm. Being at home all day has dissolved structure of daily lives.
- Exacerbated feelings of fear and loneliness. Isolation and constant fear of exposure to the virus.
- Nonstop exposure to gadget screens – There has been a 50% increase in mobile data usage during the lockdowns.
- Magnified uncertainty about the future. – Constant negative news has not been helpful.
Mental health: Pressure to return to the office could be making employees more anxious
https://www.weforum.org/agenda/2021/06/mental-health-pressure-return-office-employees-anxious/
A recent survey of office workers in five different countries, every single person reported feeling anxious about the idea of returning to in-person work.
56% of respondents in the same study reported that their organization hadn’t asked for their opinions about return-to-work policies and procedures.
The top five sources of anxiety about returning to the workplace are: being exposed to COVID-19, less flexibility, community to work, wearing a mask, and need for childcare.
How is the IoT World Shaping up in 2021 and what trends will influence the future of IoT?
https://www.saftbatteries.com/energizing-iot/how-iot-world-shaping-2021-and-what-trends-will-influence-future-iot-infographic
From the battery company Saft, here is are some interesting stats from their 2021 Internet of Things barometer
How many IoT devices are now in the world? In 2021, the projection of connected smart devices is 46 billion, up from 35 billion in 2020.
This is a 200% increase from 2016 mainly driven by the reduced IoT hardware costs and the emergence of cost efficient private cellular networks.
The total number of IoT devices that are active is expected to grow to 83 billion by 2024.
The industrial sector which includes manufacturing, retail, and agriculture will account for over 70% of all IoT connections by 2024.
How has the pandemic impacted the IoT Market? In 2021, the global value of the IoT market in 2021 is $381 billion which is 9% lower than the estimate prior to the pandemic. By 2025, the estimated global IoT revenue adjusted for the effects of the pandemic will be $906 billion. The pandemic will have wiped out $200 billion in 2025 because of the pandemic.
61% of companies say that the return on investment on IoT projects are significant. 87% said the changes they made to their core strategy due to IoT are for the better and 87% say IoT is now critical to their future success.
Reported key benefits of IoT deployments include a 50% improvement in productivity, 42% asset uptime with consistency and reliability, and 34% have seen IoT directly generate new revenue streams
COVID-19 Delta Variant is Spreading Further! LPRC Parking Lot Lab is Active and Stopping Crime! In this week’s episode, our co-hosts discuss these topics and more, including the Shift to Grocery Shopping Online, Sleep Patterns are Negatively Changing, Ransomware Attacks Continue to Occur, Anxiety Rises as People Return to Offices, and Maintenance at Self Checkout Needed as Stores Ramp Up. Listen in to stay updated on hot topics in the industry and more!
