Data: Retailers to spend £160bn on technology this year

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The amount spent on technology by retailers across the globe will top $203bn (£161.2bn) in 2019, new research has revealed.

A World in Motion, produced by Tech. – a collaboration between Retail Week and World Retail Congress – found retailers will spend $203.6bn (£161.7bn) this year, up 3.6% on 2018 levels.

The increase in spending comes as retailers recognise the need to radically reshape their businesses and leverage technologies such as AI, robotics and voice recognition.

With such new technologies advancing rapidly, retailers across the globe believe the need for digital transformation has become more urgent during the past three years.

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