Thursday, June 29, 2017
Grocers will turn to these tech companies to battle Bezos’ disruption of the industry, JPMorgan says from CNBC.
Amazon’s deal to acquire Whole Foods should accelerate food retailers’ adoption of technology and will benefit 23 stocks, according to a CNBC news report.
“We suspect the Amazon-Whole Foods Market combination could introduce urgency into retailers’ technology investments,” Paul Coster, an analyst for JPMorgan, said in a note Monday.
Coster expects grocers to focus on using technology to increase transaction efficiency and develop “seamless customer shopping experiences” across mobile, the Internet and brick-and-mortar stores.
His top pick is NCR for its leadership in self-checkout technology and point-of-sale software. Other companies that could benefit from the grocers’ increased investment in technology include Oracle,Pitney Bowes, Salesforce, Intel and NXP Semiconductor, Coster said.
