2025年零售技术市场报告

FULL YEAR 2025 NEW YORK | LONDON | LOS ANGELES | PARIS | MUNICH SAN FRANCISCO | BERLIN | DUBAI INDEPENDENT LEADER IN TECH INVESTMENT BANKINGDELIVERING SUCCESSFUL OUTCOMES FOR OUR CLIENTS 8 CORE VERTICALSINDUSTRY EXPERTISE BASEDON STORY 100%TECH-FOCUSEDINVESTMENT BANK Top global boutique investment bankfocused on mid-market Tech With senior advisor team of ex-corporateCEOs OVER 500TRANSACTIONSWith mid-cap growth focus EXPERIENCED TEAMPROFESSIONALS OVER 60AWARDS 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 AND ASIA 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 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 Consumer and Macro Trends:With consumer demand, budget confidence, and channel patterns becoming increasingly volatile, retailtechnology is being pushed toward adaptive, real-time decisioning rather than static planning The Retail Operating Agenda:Retail technology sharpens the retail operating agenda by illuminating the clearest levers for conversion andmargin, ensuring ROI is visible and measurable across the business Market Map:The retail technology ecosystem is structured around a unified commerce flywheel–Plan, Market, Sell, Fulfill/Serve, andLearn/Monetize–bringing together capabilities across both digital and physical channels Segment Deep Dives:Retail technology is becoming a synchronized, data-driven ecosystem where planning, retail media, ecommerceenablement, in-store tech, and post-purchase solutions operate as one stack to drive demand, conversion, experience, and profitability RETAIL TECHNOLOGY MARKET SIZE RETAIL TECHNOLOGY MARKET GROWS AS MARGIN PRESSURES AMIDST ECONOMIC UNCERTAINTIES FORCE EFFICIENCY STRATEGIES $282B Global Retail TechnologyTransactions in 2025(1) Annual Global RetailSales in 2025 Projected Market CAGRthrough 2035 Global Retail TechnologySpend in 2025 As complexity increases, retailers are consolidating spend toward fewer, moreintegrated technology platforms that can unify data, workflows, and AI capabilities Robust adoption ofomnichannel model thatblends physical and digitaltouchpoints for seamless Focus on AI adoption andtransform data overloadinto strategic insightsusing analytics and digital 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 of of record, 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 GLOBAL RETAIL SALES OVER $30 TRILLION: TECHNOLOGY IS A NON-NEGOT IABLECOMPONENT & GROWTH ENABLER 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 •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 •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,retail