2025年零售技术市场报告

FULL YEAR 2025 NEW YORK | LONDON | LOS ANGELES | PARIS | MUNICHSAN FRANCISCO | BERLIN | DUBAI INDEPENDENT LEADER IN TECH INVESTMENT BANKINGDELIVERING SUCCESSFUL OUTCOMES FOR OUR CLIENTS 8 CORE VERTICALSINDUSTRY EXPERTISE BASEDON STORY Top global boutique investment bankfocused on mid-market Tech With senior advisor team of ex-corporate TRANSACTIONSWith mid-cap growth focus 16 Partner level bankers8 offices in 5 countries •10x Investment bank of the year•45+ Deal of the year•6x Leadership awards GLOBAL REACH COMBINED WITH LOCAL PRESENCE ONE OF THE LARGEST TECH TEAMS ACROSS NORTH AMERICA, EUROPE ANDASIA STRONG TRANSACTION TRACK RECORD ACROSS THE GLOBAL TECH LANDSCAPE OVER 500+ TRANSACTIONS COMPLETED DRAKE STAR’SRETAIL TECHNOLOGY COVERAGE TEAM GLOBAL EXPERTISE WITH LOCAL PRESENCE SENIOR LEADERSHIP Gregory BedrosianManaging Partner & CEO, Member of theExecutive CommitteeNew York+1 203 524 5652gregory.bedrosian@drakestar.com Ralf Philipp HofmannManaging Partner & Member of theExecutive Committee / Co-FounderMunich+49 173 393 0070ralf.hofmann@drakestar.com Julian OstertagManaging Partner & Member of theExecutive Committee / Co-FounderMunich+49 891 490 26520julian.ostertag@drakestar.com RETAIL TECHNOLOGY SITS AT THE CENTER OF COMMERCE, CONNECTING DEMAND,OPERATIONS, AND MONETIZATION AT SCALE AS RETAIL SPEND SCALES ACROSS DIGITAL AND PHYSICAL CHANNELS, TECHNOLOGY HAS BECOME THE PRIMARY LEVER FOR GROWTH,EFFICIENCY, AND MARGIN PROTECTION RETAIL TECHNOLOGY MARKET SIZE RETAIL TECHNOLOGY MARKET GROWS AS MARGIN PRESSURES AMIDST ECONOMIC UNCERTAINTIES FORCE EFFICIENCY STRATEGIES ~$31T $282B 750+ Annual Global Retail Projected Market CAGRthrough 2035 Global Retail TechnologyTransactions in 2025 Global Retail Technology As complexity increases, retailers are consolidating spend toward fewer, moreintegrated technology platforms that can unify data, workflows, and AI capabilities Focus on AI adoption andtransform data overloadinto strategic insightsusing analytics and digital Robust adoption ofomnichannel model thatblends physical and digitaltouchpoints for seamless The landscape is movingbeyond automation to AI-driven personalization and DRAKE STAR’S KEY RETAIL TECHNOLOGY MARKET TAKEAWAYS The global retail technology market is projected to grow ~6% annually to ~$500B by 2035, driven byautomation and AI, increasing the strategic value of platforms that control high-quality first-and Retail technology M&A and private placements regained momentum in 2025, with capitalconcentrating around enterprise systems ofofrecord, action, engagement, and intelligence thatdemonstrate high customer retention underscoring their value to retail buyers and positioning them As third-party cookies become less reliable / more restricted and AI models demand richer inputs,control of clean, permissioned first-party data, augmented by embedded third-party data, is Retail technology is entering a structural consolidation phase, with M&A accelerating the absorptionof fragmented point solutions into systems of record, action, engagement, and intelligence. This is RESILIENT SPENDING, RISING VALUE SENSITIVITY: HOW CONSUMERS ARERESHAPINGRETAIL DEMAND •Retail sales excluding auto dealers and gas stations rose~1.3%month over month and~3.5%year over year in December 2025, a sharp pickup from November’s modest0.12%monthly gain •Consumer confidence fell sharply in January 2026, with the Conference Board’s Consumer Confidence Index dropping to84.5-its lowest reading in more than a decade (since 2014) •Both present conditions and future expectations weakened, reflecting growing pessimism around job prospects, income stability, and the broader economic outlook •Despite the decline in sentiment, retail spending remained resilientthrough late 2025 and early 2026. Core retail sales strengthened sequentially in December, supported by a stable labormarket and lingering pent-up demand •This creates anotable disconnectbetween consumers’ perceptions and their actual spending behavior •Rising volatility iscompelling retailers to enhance operational discipline, prioritizing precise pricing, conversion improvements, stronger inventory productivity, and efficiency gains, with an •With earlier inventory timing advantages fading,retailers are implementing price increasesthat intensify supply-chain pressures, making cost escalations more visible to shoppers FROM EXPERIMENTATION TO AGENTIC AI: HOW RETAIL IS INVESTING ITSWAY TOA $500B, PERSONALIZED FUTURE RETAIL TECHNOLOGY MARKET SIZE COMMENTARY •Generative AI adoption, rising demand for seamlessomnichannel shopping, growth in social commerce, andincreasing use of AI chatbots are drivingprojected ($ in B) •Global retail technology spend reached ~$282B in 2025,approaching the total enterprise IT and digital budgetsretailers are projected to deploy by 2029 (~$284B), •Retail is moving from rule-based automation to agentic AIacross customer engagement, store operations, and •Personal