Retail Task Management Statistics 2024 – Everything You Need to Know

• The top five causes of project failure are Change in the organization’s priorities (39%). ^[0]
• For such large IT projects, functionality issues and schedule overruns are the top two causes of failure (at 22% and 28% respectively). ^[0]

Retail Task Management Adoption Statistics

• Despite its impact, adoption rates for PM software remains low . ^[0]
• The adoption rates have skyrocketed since the unfortunate events with the global pandemic and most of the world had to adapt to remote work — 7.6% or 332 million people more than in April 2020. ^[4]
• Still, use of true AI in BPA is relatively low, though it has accelerated considerably in recent years, with enterprise AI adoption up 25%, according to McKinsey’s 2019 Global AI survey. ^[3]

Retail Task Management Latest Statistics

• The projected percent change in employment from 2020 to 2030. ^[5]
• The average growth rate for all occupations is 8 percent. ^[5]
• The percent change of employment for each occupation from 2020 to 2030. ^[5]
• Top Retail Statistics to Look out for in 2024, Editor’s Choice Digitally native brands are predicted to open 850 brickand mortar stores in the next 5 years. ^[1]
• E commerce retail sales are expected to account for 13.7% of retail sales worldwide in 2019. ^[1]
• 62% of customers expect personalized discounts or offers based on past purchases. ^[1]
• 81% of shoppers do online research before committing to a purchase. ^[1]
• 31% of consumers say they do their shopping while flipping through their social media accounts. ^[1]
• 82% of consumers say they are more likely or much more likely to purchase from a brand with multiple delivery options. ^[1]
• When shopping for new products, 49% of US consumers start by looking at Amazon. ^[1]
• In store shopping is still the preferred retail channel for 82% of Millennials, even the ones who also engage in online shopping. ^[1]
• The Trump administration’s tariffs on $200 billion of Chinese exports increased from 10% to a hefty 25% in May 2019. ^[1]
• According to Vend’s analysis of the US retail sales statistics, that’s with a gross margin of 50.96%. ^[1]
• Some of the most profitable retail industries by net margin are building supplies and distribution centers, which frequently see a 5% net margin. ^[1]
• 46% of retail participants reported closing establishments in 2018. ^[1]
• Nevertheless, 68% still planned to open more establishments in 2019. ^[1]
• 37% retail professionals claim they had to close their establishments due to poor location choice. ^[1]
• In the same 2019 Geoblink report on retailing today, 87% of retail professionals stated that a store’s location was a priority to their business. ^[1]
• 75% of consumers don’t necessarily identify quality with high prices. ^[1]
• Over 78% of consumers would choose to spend money on an experience or an event. ^[1]
• 69% of consumers believe attending live experiences helps them connect better with the brand, their friends, and their community. ^[1]
• 77% of consumers, including 60% of Millennials, have fostered relationships with specific brands for over 10 years. ^[1]
• 52% of people regularly take pictures of their meals. ^[1]
• As the 2019 KPMG report shows, as many as 11% of respondents take at least one picture of their food per week, while 9% are unable to go a day without capturing what they’re consuming. ^[1]
• In 2018, food retail industry sales were up by 4%, with the expected surge near the end of the year, on the eve of the holiday season. ^[1]
• The most useful kind of data retailers used to evaluate point of sale performance was internal sales data (79%). ^[1]
• The next most helpful items on the Geoblink’s list were In store shopper behavioral data (65%) and customer data such as addresses and loyalty card information (55%). ^[1]
• 73% of consumers use multiple channels to shop. ^[1]
• As many as 60% of consumers start their product search on the search engine. ^[1]
• And according to Adweek’s article on retailing statistics, 61% will read product reviews before making any purchase. ^[1]
• In 2018, retail ecommerce sales grew 23.3% over 2017. ^[1]
• Ecommerce growth for 2020, and 2021 is expected to hit 19.8%, and 18%, respectively. ^[1]
• 67% of Millennials and 56% of Gen X consumers prefer to shop online. ^[1]
• According to Survata’s Amazon study data, 36% of consumers start their search on a search engine. ^[1]
• Only 15% go directly to brands or retailers. ^[1]
• Also, 84% of US consumers plan on buying a gift on Amazon this year. ^[1]
• Other online sales statistics indicate that half of them expect to spend at least 50% of their holiday budgets on Amazon. ^[1]
• 84% of retailers say VoC analytics are important, and 59% were investing in it by the end of 2019. ^[1]
• The number of people with smartspeakersenabled and voice activated virtual assistants almost doubled from 14% in 2017 to 27% in 2018. ^[1]
• The increased use of smart speakers at consumers’ homes is expected to drive the massive growth (1900%). ^[1]
• OC&C expects smart speakers to penetrate 55% of US households by 2024 compared to 13% now. ^[1]
• As 31% of shoppers are completely bored, they rely on virtual reality to take their minds off shopping. ^[1]
• According to Alliance Data’s 2019 Now, New, Next trends report, we’re on the brink of a revolution in social shopping. ^[1]
• Ecommerce retail sales were expected to account for 13.7% of retail sales worldwide in 2019. ^[1]
• While ecommerce accounted for only 7.4% of global retail sales in 2015, the figure went up to 11.9% in 2018. ^[1]
• By 2021, the share is expected to rise even more, up to 17.5% so start working on that eCommerce store ASAP. ^[1]
• When shopping in store, consumers value “prompt service” most of all (54%). ^[1]
• When consumers decide to purchase a particular product they then expect a personalized experience (30%) and smart recommendations (30%). ^[1]
• 53% of Millennials don’t think store associates have the tools they need to provide great customer service. ^[1]
• Nearly 70% of shoppers live within the area of a retailer’s brickand. ^[1]
• The number one reason (56%). ^[1]
• Other reasons why top online retail sites can’t beat an in store shopping experience include products look different (41%), long delivery time (34%), high shipping costs (25%), complicated return process (16%). ^[1]
• 60% of men and 52% of women say they at least occasionally, if not more often, visit a store to see or try out items before buying them online. ^[1]
• What’s more, 28% of these young men say they always or frequently do so, compared with 20% of young women. ^[1]
• 52.8% of Americans visit Walmart in one month. ^[1]
• Shopping mall statistics from the 2019 retail report indicate that the strong digital growth, at 43% last quarter, has now propelled Walmart to within spitting distance of the No. 3 post position, displacing Apple, at roughly 4% of retail sales. ^[1]
• Up to 20% of consumers who return an online purchase in store make an additional purchase. ^[1]
• Gen Z shoppers were 8% more likely than other respondents to be influenced by the availability of financing, given that they likely have lower incomes to support their spending. ^[1]
• A study from the Pew Research Center reveals that 79% of US adults have made an online purchase. ^[1]
• What’s interesting is that 51% of Americans have used a mobile device for online shopping. ^[1]
• 67% of consumers have downloaded a retailer app. ^[1]
• According to the 2018 Synchrony Retailer Mobile App tudy, over half of thoe who downloaded retailer appdid o in order to make ue of an app only coupon or dicount. ^[1]
• Still, almost 50% actually used the app to make one or more purchases, adding up to a satisfactory result. ^[1]
• Shopping sessions are 32% shorter when customers use mobile rather than desktop. ^[1]
• In 2018, mobile sales accounted for nearly 40% of all retail ecommerce sales in the US. ^[1]
• As eMarketer, the leading research firm forecasts, mobile commerce will account for 53.3% of all retail ecommerce sales in the US by 2021. ^[1]
• In 2018, 39.6% of retail commerce was mobile. ^[1]
• According to eMarketer, in 2020 mobile commerce will be only 1% below half of US retail ecommerce sales, and is expected to surpass them the following year. ^[1]
• Digitally native brands are predicted to open 850 brickand mortar stores in the next five years. ^[1]
• When asked what will they invest in this year, most retailers identified new products (65%) and store associates (61%). ^[1]
• Despite anticipated bumps in the road, retail’s future looks bright, with a 4.7% growth expected in 2019. ^[1]
• Amazon accounts for 49% of online spending in the US, which is about 5% of all US retail sales. ^[1]
• With a 6.6% share of eCommerce sales, eBay holds a very distant second place. ^[1]
• Apple comes in third at 3.9%, while Walmart occupies fourth place. ^[1]
• Rounding up the top five, The Home Depot comes in with a share of 1.5%. ^[1]
• Ecommerce dollars now comprise 10% of all retail revenue. ^[1]
• The percentage of ecommerce sales varies markedly by product segment, from around 2% for groceries to more than 20% for apparel to the overwhelming majority of sales in categories where products can be digitally delivered, like music, books, and games. ^[1]
• US autos are still subject to China’s standard tariff rate of 15%. ^[1]
• Despite the rumors that the tariffs on Chinese goods would increase to 25%, China and the U.S. decided to restart trade talks and put the new rounds of tariffs on hold. ^[1]
• 25% of customer service operations will use virtual customer assistants by 2020, a jump from less than 2% in 2017. ^[1]
• According to the findings of a 2018 Gartner report, more and more VCAs are implemented on mobile apps, websites, and social networks, to help businesses handle customer requests. ^[1]
• Brand leaders plan to hire 50% more data scientists in the next three years. ^[1]
• Data scientist job postings increased 31% year over year in 2019, a 256% jump from 2013.Because data scientists, like AI researchers, are so in demand, they often command extremely high salaries. ^[1]
• An entry level data scientist or one with little experience makes over $100,000 a year, according to Glassdoor. ^[1]
• Retail statistics predict that, within the next two years, 65% of retailers will offer same. ^[1]
• Research from Boston Retail Partners shows 51% of retailers now offer some form of same. ^[1]
• Ultimately, the year 2020 ended with a 3% decline in total worldwide retail sales at $23.389 trillion. ^[2]
• Fortunately, the latest forecasts bring hope that the overall global retail will rebound to 5.1% CAGR in 2021. ^[2]
• Despite the challenges, the global retail ecommerce sales grew by 27.6% in 2020 compared to the previous year, with a total of $4.280 trillion. ^[2]
• China is projected to produce as much as $2.779 trillion in ecommerce sales, which is 56.8% of the worldwide total. ^[2]
• 95% of all purchases are projected to be done via ecommerce. ^[2]
• Building supplies and distribution centers are the most profitable industries by a 5% net margin. ^[2]
• However, yearover year growth was rated at 2.9%. ^[2]
• In all, the total US retail sales for the entire 2020 showed a 0.6% growth compared to 2019. ^[2]
• Meanwhile, the US online retail sales grew from $343.150 million in 2019 to $374.38 million in 2020, showing a 9.1% growth. ^[2]
• unemployment in the retail sector remained high at 6.7% in November 2020 compared with 2019. ^[2]
• Amazon accounted for around 39% of online commerce spending in the US in 2020. ^[2]
• The average gross margin in retail as of 2018 was 50.96%. ^[2]
• 52.8% of American consumers visit Walmart in any given month. ^[2]
• Small retailers with 50 employees or less represent 98.6% of all retail firms. ^[2]
• Small retailers hire 39.8% of all retail employees. ^[2]
• Small retailers have an average gross margin of 51%. ^[2]
• In all, retail executives name the following as their top investment priorities for 2021 digital acceleration (88%), supply chain resilience (78%), health and safety (78%), and cost structure realignment (72%). ^[2]
• Customers spend 69% of their discretionary income each month in. ^[2]
• 40% of US consumers reduced retail spending in general after the pandemic hit. ^[2]
• Additionally, 87% of customers said they would attend exclusive access to items or sale in physical stores. ^[2]
• 81% of customers also said they would attend parties organized by physical stores. ^[2]
• Meanwhile, 80% of customers said they would attend a product demonstration or tutorial by physical stores. ^[2]
• 71% of customers said they would attend a game or competition organized by physical stores. ^[2]
• 82% of shoppers attended a retail event in 2018. ^[2]
• In the US, Clickand Collect sales grew by 60.4% in 2020 compared to 2019. ^[2]
• 89% of US consumers are more likely to support retail brands that have a positive impact on the world. ^[2]
• 36% more consumers tried a new product brand during the pandemic. ^[2]
• 79% of consumers now prefer selfcheckout and would like to continue doing it after COVID. ^[2]
• Curbside orders also increased by 208% during the pandemic. ^[2]
• 59% of customers say they would like to continue curbside pickup after the pandemic. ^[2]
• According to a pre Thanksgiving survey conducted in 2020, 56% of consumers are anxious about shopping in stores. ^[2]
• As of 2019, ecommerce only comprised approximately 9.46% of retail sales. ^[2]
• However, ecommerce took 14.3% of the pie in the third quarter of 2020. ^[2]
• The number of unique online shoppers rose 40% yearon year during the pandemic. ^[2]
• Around 69% of Americans have shopped online. ^[2]
• 25% of American adults shop online at least once a month. ^[2]
• Around 20% of buyers who return an online purchase in store make an additional purchase. ^[2]
• 85% of orders from social media channels originate from Facebook. ^[2]
• 84% of US online buyers review at least one social media platform before buying. ^[2]
• 39% of Americans share their experiences from vendors on social media platforms. ^[2]
• 30% of online customers have posted feedback online. ^[2]
• A 2019 survey revealed that 25% of ecommerce companies planned to sell directly on social media in 2020. ^[2]
• Meanwhile, 15% of ecommerce companies were already selling on social media in 2019. ^[2]
• Branded Online Store 45% Branded Online Store. ^[2]
• 65% of all ecommerce traffic comes from mobile. ^[2]
• 53% of ecommerce sales come from mobile sessions. ^[2]
• Fashion retailers convert 89.3% of mobile traffic into sales. ^[2]
• 79% of smartphone users have made an online purchase using a mobile device in the last six months. ^[2]
• Around 37% of smartphone users make an in store mobile payment at least once every six months. ^[2]
• Additionally, mobile payment apps are predicted to handle an estimated $14 trillion worth of transactions every year come 2024. ^[2]
• US ecommerce growth jumps to more than 30%, accelerating online shopping shift by nearly 2 years. ^[2]
• The other ones include Management Statistics What Employees Want Key Takeaways – Time Management Statistics – Less than 1 in 5 people (18%). ^[6]
• – 82% of people don’t have a time management system. ^[6]
• – 100% of people using this technique feel their work is under control either 4 or 5 days per week. ^[6]
• – 28% of people using this technique feel their work is never or very rarely under control. ^[6]
• – 1 in 8 people (12.5%). ^[6]
• – Only 20%. ^[6]
• – 49% of people have never carried out a time audit. ^[6]
• 1 18% OF PEOPLE HAVE A DEDICATED TIME MANAGEMENT SYSTEM. ^[6]
• 82% OF PEOPLE DO NOT HAVE A DEDICATED TIME MANAGEMENT SYSTEM. ^[6]
• 2 33% OF PEOPLE USE A TO DO LIST TO MANAGE THEIR TIME AND TASKS. ^[6]
• 24% OF PEOPLE USE THEIR EMAIL INBOX. ^[6]
• 12% OF PEOPLE SCHEDULE ALL OF THEIR TASKS IN THEIR DIARY IN ADVANCE. ^[6]
• 25% OF PEOPLE “JUST DEAL WITH WHATEVER. ^[6]
• 20% OF PEOPLE FEEL THAT THEIR WORK IS UNDER CONTROL EVERY DAY 2. ^[6]
• 66% OF PEOPLE FEEL THAT THEIR WORK IS UNDER CONTROL MOST OF THE TIME . ^[6]
• OVER 20% (21%). ^[6]
• MORE THAN 1 IN 4 (28%). ^[6]
• 50% OF PEOPLE WITH THIS ANSWER FEEL THEIR WORK IS UNDER CONTROL EVERY DAY. ^[6]
• 50% OF PEOPLE WITH THIS ANSWER FEEL THAT THEIR WORK IS UNDER CONTROL 4 DAYS OF THE WEEK. ^[6]
• 60% OF PEOPLE USING THIS TECHNIQUE. ^[6]
• 2 ALMOST 1 IN 3 (31%). ^[6]
• 3 ALMOST HALF (49%). ^[6]
• The average full time worker spends up to 12.5% of their average workday on low impact activities and unnecessary meetings where no meaningful communication takes place. ^[6]
• Saving only one hour per week on average amounts to a 2.5% increase in your productive time. ^[6]
• IN 6 PEOPLE ( 16.6 %). ^[6]
• 19% OF PEOPLE LOOK AT THEIR EMAILS. ^[6]
• ALMOST 20% (19.4%). ^[6]
• It was evenly split between males (46%) and females (54%). ^[6]
• The research was evenly split between age groups, with 20% of the replies being received from people in each of the following age categories. ^[6]
• Only 58% of organizations fully understand the value of project management. ^[0]
• 93% of organizations report using standardized project management practices. ^[0]
• 68% more than 2/3rd of organizations in ‘s annual survey said that they used outsourced or contract project managers in 2018. ^[0]
• Only 23% of organizations use standardized project management practices across the entire organization. ^[0]
• 33% use standardized practices, but not across all departments. ^[0]
• While a small portion 7% of organizations don’t use any standard practices at all. ^[0]
• Coincidentally, 55% of organizations don’t have access to real. ^[0]
• Between 2017 and 2018, the percentage of organizations using spreadsheets to manage their agile projects dropped from 74% to 67%. ^[0]
• 56% of organizations have used only one project management system. ^[0]
• Only 41% of organizations with an enterprise wide project management office report that it is highly aligned to the organization’s strategy. ^[0]
• 80% of highperformance organizations Champions have a PMO. ^[0]
• 72% say that there is a strong alignment of the EPMO to their organizational strategy. ^[0]
• 95% of large firms reported having dedicated PMOs, either in specific departments or across the entire organization. ^[0]
• In contrast, only 75% of small firms had dedicated PMOs. ^[0]
• In 2016, PMOs delivered a 33% improvement in projects delivered under budget, 27% improvement in customer satisfaction, 25% increase in productivity, and 25% reduction in failed projects. ^[0]
• In 2016, the average PMO accounted for nearly 5% of the project budget and had a staff size of 9. ^[0]
• 49% of project managers report to the PMO (up from 42% in 2012). ^[0]
• Incidentally, highperformance organizations had far higher percentage of project managers reporting to the PMO than lowperforming organizations 68% vs 53%. ^[0]
• 50% of respondents in a survey said that their biggest challenge is that PMO processes are seen as overhead. ^[0]
• 42% said that their organizations are resistant to change and adopting new PM methodologies. ^[0]
• 41% said that their biggest challenge is demonstrating the added value of the PMO. ^[0]
• Risk management practices are widely used across most organizations 27% say they ‘always’ use them, while 35% use the ‘sometimes’. ^[0]
• Only 3% of surveyed organizations say they ‘never’ use risk management practices. ^[0]
• Among senior leaders, 87% say that they “fully” understand the importance of PM practices. ^[0]
• Only 32% of organizations say that they’re satisfied with their current PM maturity level. ^[0]
• 67% would rank their department’s PM maturity level at 3 or more. ^[0]
• However, only 47% would rank their organization wide PM maturity at level 3 or higher. ^[0]
• In PMI’s 2017 survey, 62% of successfully completed projects had sponsors who were actively supportive. ^[0]
• 78% of respondents in a Geneca survey also said that they’d like business stakeholders to be more responsive and engaged in the project. ^[0]
• Another study found that 33% of projects fail because of a lack of involvement from senior management. ^[0]
• A whopping 97% of organizations believe that project management is critical to business performance and organizational success, according to a PwC study. ^[0]
• Businesses say that the biggest impact of project management was on team communication (52%). ^[0]
• 44% also said that it improved the quality of the final product, while 38% said that it improved customer satisfaction. ^[0]
• Only 42% of respondents in Wellingtone’s survey that this role is occupied by a professional Project Manager in their organization. ^[0]
• In 2018, nearly 70% of projects met their original goals or business intent, while nearly 60% were completed within the original budget. ^[0]
• Both these figures are up from 62% and 50% respectively in 2016. ^[0]
• Compared to 2017, 71% of organizations reported a lack of funding as their top project management challenge, while 49% more organizations reported an inconsistency in approach. ^[0]
• A survey published in HBR found that the average IT project overran its budget by 27%. ^[0]
• Moreover, at least one in six IT projects turns into a “black swan” with a cost overrun of 200% and a schedule overrun of 70%. ^[0]
• An IT project with a budget over $1M is 50% more likely to fail than one with a budget below $350,000. ^[0]
• A PwC study of over 10,640 projects found that a tiny, tiny portion of companies 2.5% completed 100% of their projects successfully. ^[0]
• According to CIO, organizations that use proven PM practices waste 28x less money than their more haphazard counterparts. ^[0]
• 80% of respondents in a Geneca survey said that they spend half their time on rework. ^[0]
• Only 55% of people involved in projects team leaders and project managers feel that the project’s business objectives are clear to them. ^[0]
• More than 80% also feel that the requirements process doesn’t articulate the needs of the business. ^[0]
• And when the project is wrapped up, only 23% of respondents say that project managers and stakeholders are in agreement when a project is done. ^[0]
• To give you an idea of the abysmal success rate of most projects, only 40% of projects at IBM meet the company’s three key goals schedule, budget, and quality. ^[0]
• 17% of IT projects can go so bad that they can threaten the very existence of the company. ^[0]
• The biggest reason for any dissatisfaction remains price (56%), followed by a lack of features (33%). ^[0]
• 64% and 67% of projects with high maturity of PM processes are delivered on time and within budget, respectively. ^[0]
• The equivalent figures for low maturity organizations are just 36% and 43%. ^[0]
• 83% of high performance organizations make an ongoing investment in project manager training. ^[0]
• 77% of such organizations have formal processes to develop PM competency. ^[0]
• In contrast, only 34% of underperformers offer similar training. ^[0]
• 51% of respondents in PMI’s 2018 survey said that soft skills are more important today, while only 19% said that this skill requirement is unchanged. ^[0]
• 81% of these organizations prioritize the development of technical skills (vs 13% of underperformers). ^[0]
• Despite low maturity levels, only 48% organizations have invested in accredited project management training. ^[0]
• 15% use non accredited training or courses, while more than 25% don’t invest in any training at all. ^[0]
• 60% of PMOs now have a formal project management training program, up from 11% in 2014. ^[0]
• Incidentally, high performing organizations are far more likely to have a training program than low performers (85% vs 38%). ^[0]
• Most PMOs (79%). ^[0]
• However, a significant and growing number (51%). ^[0]
• “Projected growth” represents the estimated change in total employment over the projections period. ^[7]
• Second, people struggled the most with awareness and adaptation skills, where assessment scores were on average 24 percent lower than for arrangement skills. ^[8]
• For example, less than 1% of people’s self ratings overlapped with their objective skill scores. ^[8]
• Moreover, self ratings only accounted for about 2% of differences in actual time management skills. ^[8]
• All told, American consumers returned a whopping $428 billion of goods in 2020, a return rate of 10.6 percent, with e commerce returns accounting for nearly a quarter of returns volume. ^[9]
• conducted just prior to the COVID19 pandemic noted a 25 percent return rate for apparel on e commerce channels, compared to 20 percent overall. ^[9]
• And with the sector’s ecommerce growing about 35 percent in 2020, its returns are at an all. ^[9]
• And with an estimated 10 percent of all returns ending in a landfill, the environmental impact is not trivial. ^[9]
• As a result, 86 percent of survey respondents agree that a lenient returns policy is critical to increasing revenue and share of wallet, and 75 percent agree returns are a necessary evil. ^[9]
• Perhaps because of this cross functional effort, 58 percent of survey respondents say that lack of accountability for returns management within any single department or business unit is a pain point within the organization. ^[9]
• Two thirds of survey respondents say their company has a strategy to improve the economics of returns, while 83 percent of them strongly agree that returns are a concern for profitability. ^[9]
• Up to 70 percent of survey respondents now offer free return shipping on some or all items. ^[9]
• Advanced shopping tools Based on the experience of our survey respondents, 70 percent of returns were caused by poor fit or style, suggesting that shopping tools are a key lever for preventing returns and improving consumer experience. ^[9]
• Only 6 percent of retailers we surveyed give merchandising any responsibility for returns, and product development teams are absent almost entirely. ^[9]
• However, most retailers are not yet actively guiding consumers to their preferred channel, other than the about 30 percent of survey respondents who charge return shipping fees. ^[9]
• 33 percent of repeat consumers would choose to abandon a retailer if they had a “difficult” returns experience. ^[9]
• According to a 2020 report on returns from Narvar, 3. ^[9]
• Seventysix percent of first time consumers who had an “easy” or “very easy” returns experience would shop at a retailer again; however, 33 percent of repeat consumers would choose to abandon a retailer if they had a “difficult” returns experience. ^[9]
• Plus, 38% of retailers reported an increase in employee turnover from 2016 to 2017, with hourly staff having the highest turnover at 65%, per data from the Korn Ferry division of the Hay Group. ^[10]
• Theft Tyco also found that external theft/shoplifting contributed the most, at more than 35% of lost sales to shrink — closely followed by internal theft at nearly 25%. ^[10]
• 86% of shoppers shop on more than one channel, which means brickand mortar businesses often open online selling channels to diversify income streams and tap into a new customer base. ^[10]
• Did you know that 82% of people don’t have a dedicated time management system?. ^[4]
• The latest data as of April 2021 points to a stunning 60.1% of the world’s population being regular internet users. ^[4]
• The penetration rate of internet users is the highest in Northern Europe — at 97%. ^[4]
• In Northern America, it’s at 90.7%, in Southern America, it’s 72%, and in Central America , it’s 66.9%. ^[4]
• Fun fact — the number of social media users is 4.33 billion, meaning that only 5% of Internet users don’t have a profile on a social network. ^[4]
• A stunning 92.8% of internet users are regularly online on their mobile devices. ^[4]
• Moreover, the Yo Y increase in an average mobile connection speed is 58.8% for download and 17.4% for upload. ^[4]
• Finding new information (63.3%) Staying in touch with family and friends (56.6%) Keeping up to date with events and news (55.6%). ^[4]
• Watching videos, TV shows, and movies (52.5%). ^[4]
• Getting inspired or finding new ideas (47.6%) Listening to music (46.4%). ^[4]
• Research of brands and products (46.4%). ^[4]
• General browsing and spending of free time (44.5%). ^[4]
• Studying and education (42.8%) Research related to places and traveling (38.7%). ^[4]
• Research on health matters and products (36.2%). ^[4]
• Meeting new people (30.8%). ^[4]
• According to the latest 2021 research, a staggering 82% of people don’t use any time management system. ^[4]
• Still, 33% reported relying on such simple to do lists to manage their work. ^[4]
• Furthermore, 25% said they simply first deal with what feels most important, while 24% rely on their email inboxes to manage their priorities and, in accordance, their time. ^[4]
• Writing a schedule in a diary or a planner is what around 12% reported doing — and, this does count as a TM system. ^[4]
• Time management statistics also reveal that the remaining 6% use specific methods — Time boxing, Pomodoro technique, Eisenhower matrix, and Eat that frog, mentioned by their popularity, in the declining order. ^[4]
• However, organization and time management statistics indicate that 49% of people never carried out a time audit. ^[4]
• Further 31% said they do it occasionally, while only 20% do so regularly. ^[4]
• According to research by Sleep Score Labs, people in Finland get the most sleep per night — 7 hours and 5 minutes. ^[4]
• What’s interesting is that more than half (54%). ^[4]
• Namely, 20% of respondents struggle with their performance due to the lack of IT knowledge, and 15% said they are too embarrassed to ask for help while they are stuck with an office suite. ^[4]
• Time management statistics provide the explanation as well — it’s the fact that, on average, employees spend 21% of the time they should be working during work hours on entertainment, social media, and news instead. ^[4]
• Another common reason for procrastination is chatting with colleagues — survey results found on Statista show that 80% of workers agree about this. ^[4]
• Another reason is office noise with 70%, closely followed by 61% of those being overwhelmed by changes at work. ^[4]
• Meetings and social media complete the top 5 list with 60% and 56%. ^[4]
• 80% of workers reported they were either actively disengaged or not engaged enough at work, so productivity levels dropped significantly. ^[4]
• Time management and productivity statistics reveal that this loss of productivity cost the global economy $8.1 trillion, according to the same Gallup’s report. ^[4]
• That’s close to 10% of Gross Domestic Product. ^[4]
• The previously mentioned Gallup’s report also shows some eye opening time management and stress statistics — 43% of workers said they are trying to cope with stress daily. ^[4]
• Furthermore, 24% said the same for anger, and 25% for sadness. ^[4]
• The number implies they also work on weekends, which was the case for 79% of participants. ^[4]
• Moreover, the percentage of those who also work during their vacation days is almost as high — 70%. ^[4]
• According to statistics on time management for business meetings, CEOs attend points to a weekly average of 37 business meetings. ^[4]
• Meaning — business meetings consume about 72% of their time. ^[4]
• Out of those 37 meetings, 38% were the ones that lasted over an hour, 32% were the ones that lasted approximately an hour, and only 30% that lasted shorter than an hour. ^[4]
• In Mercer’s survey results, we can see that 83.36% of companies said they are considering implementing this flexible hours strategy at a greater scale than before the pandemic. ^[4]
• The top spot for future investments in this segment went to connection tools (46.42%). ^[4]
• The second most important category (36.77%). ^[4]
• The exact same percentage (36.77%). ^[4]
• Research by PwC on productivity levels indicates only 2% of companies who track their performance don’t feel they need additional measures for improvement. ^[4]
• Another 3% reported they don’t see any obstacles. ^[4]
• Time management and productivity statistics show financial matters are the biggest obstacle in reaching the desired goals, in this case for 44%. ^[4]
• Other relevant obstacles were time restraint (39%) employee resistance (38%) resources distributed to crisis management (36%). ^[4]
• the lack of technology tools (28%). ^[4]
• When it comes to the frequency of productivity audits, 11% of organizations whose value doesn’t exceed $5 billion report conducting them on an hourly basis, measuring the productivity of a specific task. ^[4]
• Confirming the direct relation of time management and success, statistics point to 25% for organizations valued at over $5 billion that conduct hourly tracking. ^[4]
• Multiple follow up studies revealed another supporting claim — 75% of poorly performing employees who took specific actions rose to acceptable levels, or even higher. ^[4]
• In 2020, 64% of the organizations reported adopting this method. ^[4]
• The IT sector is the most common one for the said approach (57% of the surveyed organizations implementing it). ^[4]
• It’s followed by finance (46%), business development (40%), operations (38%), and digital transformation (38%). ^[4]
• Time management statistics show that 47% of college students believe so. ^[4]
• Despite being digital natives, 48% of those who have a system manage their tasks by writing them down by hand. ^[4]
• More than a half, 54% exactly, said their grades and overall performance would be better if they had better organizational skills. ^[4]
• The lowest percentage of students who procrastinate was around 50%, while the highest went up to a whopping 95%. ^[4]
• However, it may also be that the lower percentage had something to do with the fact that research was conducted 7 years later. ^[4]
• Regardless of how the students had used the time in between, when given a full week to complete a task, 58% submitted it on the last day. ^[4]
• Effective time management statistics from another study pointed out the same — 76% of students who submitted their assignments early got higher scores. ^[4]
• On the other hand, this was the case for only 60% of the procrastinators. ^[4]
• In a recent study on motivational factors, receiving recognition — a traditionally extrinsic motivator — was ranked at the top, for 49% of students. ^[4]
• Time management statistics indicate the practical study approach breaks the procrastination pattern for 22% of students, followed by collaborative work with 18% of students. ^[4]
• The tremendous results from Iceland led to 86% of the country’s workforce either already working shorter hours or gaining the right to do so in the near future. ^[4]
• The research with a sample of 2.3 million people indicates that taking a hike or a walk on your own raises mood by 2%. ^[4]
• If that activity is shared with a friend, the percentage is at 7.5% and even higher, at 8.9% if shared with a partner. ^[4]
• On average, it’s estimated that people who complete all of the REM and non REM stages during one night dream for 2 full hours. ^[4]
• The latest data points to 55% of Americans not using their vacation days. ^[4]
• Time management statistics indicate that, despite 83% reporting they want to use their vacation days to travel, most of them don’t get to do it. ^[4]
• The total loss from missing opportunities and travel spend is estimated at $151.5 billion. ^[4]
• In 2016, a government survey revealed almost 25% of Japanese employees worked a whopping 80 hours of overtime per month. ^[4]
• Also, workers in Japan on average didn’t take 10 of their vacation days — and 63% of those who did felt guilty. ^[4]
• According to Harvard Business Review, there are 3 main categories of skills to develop Awareness. ^[4]
• According to Gladwell’s theory, it takes approximately 10,000 hours to master a complex skill. ^[4]
• Effective time management statistics reveal there are 5 vital habits that such people share, according to Forbes Learning how to multitask in a productive way Using the technology to shorten the in person meetings time Creating a routine. ^[4]
• The State of Work Life Balance in 2019. ^[4]
• Key stat31% of businesses have fully automated at least one. ^[3]
• A 2020 global survey of business leaders from a wide cross section of industries conducted by McKinsey & Co. found that 66% were piloting solutions to automate at least one business process, up from 57% two years earlier. ^[3]
• The percentage of companies that have fully automated at least one function, however, has grown more modestly, from 29% in 2018 to 31% in 2020. ^[3]
• A case study conducted by consulting firm Elder Research found that forecasts during the four week study delivered a median accuracy rate of 88%. ^[3]
• Key statIn early May 2020, U.S. employee engagement advanced to a new high of 38%.—Gallup Improving worker productivity is a top driver for technology investments, including automation. ^[3]
• Overall, U.S. productivity growth clocked in at a paltry 1.4% between 2007 and 2019, according to the Bureau of Labor Statistics. ^[3]
• In the manufacturing sector, growth has increased only 0.5% since the financial crisis, falling sharply from 4.4%. ^[3]
• Among Millennials, 43% envision leaving their jobs within two years, while only 28% see themselves staying beyond five years, according to Deloitte. ^[3]
• McKinsey estimates that, in about 60% of occupations, at least one third of workday activities could be automated. ^[3]
• Key stat60% of retail respondents have implementation AI, up from 35% during the prior year, making it the industry with the sharpest increase.—McKinsey Advances in AI and machine learning are key enablers of BPA. ^[3]
• Among its key findings 63% of those that have implemented AI say that it contributed to increased revenues. ^[3]
• 58% embedded at least one AI element into a process or product, up from 47% in 2018. ^[3]
• 30% incorporated AI across business units, an increase from 21%. ^[3]
• Since the outbreak, McKinsey found that 88% of finance and insurance executives and 76% of those in IT have accelerated their implementations of automation and artificial intelligence. ^[3]
• 27% Capture and apply knowledge that is hard to otherwise attain 26% Apply automation to reduce headcount 24%. ^[3]
• Digitization and a focus on streamlining business processes is accelerating demand for modern workflow automation management systems, which Grand View expects to show a CAGR of 27.7% through 2025. ^[3]
• Key stat64.8% of businesses planned to invest more than $50 million in big data and AI initiatives in 2020, up from 39.7% in 2018.—New Vantage Partners. ^[3]
• A recent executive survey from New Vantage Partners shows that 65% of businesses planned to invest more than $50 million in big data and AI initiatives in 2020, up from 40% in 2018. ^[3]
• While only 38% have created data driven organizations, 27% have successfully created “data cultures” within their companies. ^[3]
• 91% cited people and process challenges as the largest barriers to evolving into data. ^[3]
• Key stat88% of corporate controllers expect to implement RPA in 2021, though many are hesitant to use it for financial reporting.—Gartner. ^[3]
• RPA could save finance teams 25,000 hours of avoidable rework from human errors, at a cost savings of $878,000, according to research firm Gartner. ^[3]
• Still, a study found that only 29% of chief accounting officers surveyed are using RPA for financial reporting. ^[3]
• Key stat25% of companies are using AI to screen resumes or job applications.—Littler. ^[3]
• Investments in HR technology will soar between 2020 and 2024, according to a report by Gallagher, an insurance brokerage, risk management and consulting firm. ^[3]
• More than two thirds, 69%, of HR execs surveyed said they will expand or replace their HR systems by 2024. ^[3]
• According to the findings Just 15% have holistic HR technology strategies aligned with their corporate goals. ^[3]
• Still, 35% have implemented new HR technology with success since 2018. ^[3]
• 29% use more than 75% of the capabilities provided in their systems. ^[3]
• Most, 69%, say they are not using these systems in their recruiting or hiring processes, for example. ^[3]
• It appears that companies are listening Among the 600 HR and IT executives PwC surveyed, 74% expect to increase HR technology spending. ^[3]
• Likewise, 72% said their core HR applications will be cloud based by the end of 2020. ^[3]

I know you want to use Retail Task Management Software, thus we made this list of best Retail Task Management Software. We also wrote about how to learn Retail Task Management Software and how to install Retail Task Management Software. Recently we wrote how to uninstall Retail Task Management Software for newbie users. Don’t forgot to check latest Retail Task Management statistics of 2024.

Reference

1. workamajig – https://www.workamajig.com/blog/project-management-statistics.
2. smallbizgenius – https://www.smallbizgenius.net/by-the-numbers/retail-statistics/.
3. financesonline – https://financesonline.com/retail-statistics/.
4. netsuite – https://www.netsuite.com/portal/resource/articles/business-strategy/business-automation-statistics.shtml.
5. clockify – https://clockify.me/time-management-statistics.
6. bls – https://www.bls.gov/ooh/management/sales-managers.htm.
7. development-academy – https://development-academy.co.uk/news-tips/time-management-statistics-2021-research/.
8. onetonline – https://www.onetonline.org/link/summary/11-1021.00.
9. hbr – https://hbr.org/2020/01/time-management-is-about-more-than-life-hacks.
10. mckinsey – https://www.mckinsey.com/industries/retail/our-insights/returning-to-order-improving-returns-management-for-apparel-companies.
11. vendhq – https://www.vendhq.com/blog/retail-store-management/.

How Useful is Retail Task Management

One of the primary benefits of retail task management is its ability to streamline operations and improve productivity. By clearly outlining responsibilities, setting deadlines, and assigning tasks, managers can ensure that every aspect of the retail operation is running smoothly. This helps to reduce wasted time and resources, leading to increased efficiency and profitability.

In addition to improving efficiency, retail task management also plays a crucial role in enhancing customer experience. By ensuring that tasks such as customer service and stocking are completed in a timely manner, retailers can provide better service to their customers. This, in turn, leads to higher levels of customer satisfaction and loyalty, which are essential for long-term success.

Furthermore, effective task management can also help to improve employee morale and engagement. When employees have a clear understanding of their responsibilities and expectations, they are more likely to feel motivated and engaged in their work. This can lead to higher levels of job satisfaction, increased productivity, and lower turnover rates, all of which are crucial for maintaining a strong and motivated workforce.

Retail task management also plays a crucial role in ensuring compliance with regulations and standards. By tracking and monitoring tasks related to safety and legal requirements, retailers can ensure that they are operating within the bounds of the law and are providing a safe and secure environment for both customers and employees. This not only helps to protect the business from legal issues but also safeguards the well-being of all individuals involved.

Overall, the importance of retail task management cannot be overstated. It is a vital tool for running a successful retail business, one that ensures efficiency, productivity, customer satisfaction, employee engagement, and regulatory compliance. Without effective task management, retailers risk falling behind the competition, encountering operational challenges, and ultimately failing to meet the needs of their customers and stakeholders. Retail task management is an essential ingredient in the recipe for retail success, and businesses would do well to prioritize it in their operations.

In Conclusion

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