Online returns more than doubled in 2020 from 2019. Ecommerce accounted for $565 billion, or 14%, of total U.S. retail sales. Plus, approximately $102 billion of merchandise purchased online was returned. -from Digital Commerce 360
Global consumers have new motivations beyond price and quality. They are ready to abandon brands that don’t support their reimagined values. And to pay more to those that do. - From Accenture
A deep dive into 17 international markets and 28,000+ consumers to uncover how the global online shopper is shaping the future of commerce and how businesses need to respond to win online. -from Wunderman Thompson Commerce
The powerful combination of digital shopping and brick-and-mortar stores creates a multiverse of options for consumers. When executed effectively, a comprehensive omnichannel strategy creates a flywheel effect for retailers that drives sales and consumer loyalty to new levels, a phenomenon demonstrated by successes from such omni-commerce leaders as Target, Walmart, Lowe’s, Best Buy, and Kroger.
The COVID-19 pandemic has been one of the greatest health crises in modern history. As consumers pivoted and adopted new habits, business leaders whether changes would be fleeting or permanent. Now PwC's June 2021 Global Consumer Insights Pulse Survey reveals that the changes are sticking - signifying a historic and dramatic shift in consumer behavior.
2020 online apparel sales totaled $240.71 billion, which was down 20.3% from $301.84 billion in 2019. There is room for a comeback and two questions remain: how much and how quickly?
As most industry folks know, stores are not dying but stores are evolving. According to multiple sources, approximately 75% of global retail sales will still take place in store in 2024. And many retail pundits predict a “retail renaissance” period with people flocking to stores over the coming years. -from Rethink Retail
The COVID-19 recovery will be driven by disease progression, de-averaged economic Impact, government policies, and business and public responses. – From BCG Executive Perspectives
The majority of retailers (80%) said the benefits of RFID cannot be replicated by another technology. Retailers that have fully adopted RFID are reporting more than 10% ROI compared to 9.2% two years ago. Opportunities remain to continue to unlock value from RFID and deliver on promises made to customers. Accenture has studied RFID in retail for eight years. It is here to stay, and it’s growing. -from Accenture
For 2021, executives were much more optimistic, with popular responses of recovering, hopeful, stable, and transformational, demonstrating a commitment to moving forward and evolving their businesses for the long term rather than scurrying to address the immediate needs.
Over 184,000 shoplifters and dishonest employee apprehensions in 2020 by just 22 large retailers, who recovered over $81 million from these thieves. The average shoplifting case value increased 13.0% and the average dishonest employee case value increased 3.8% over 2019.
There can be many definitions of what a winning retailer might be, but for this research we defined a winner for 2020 as a retailer that saw a total sales increase of 10% or more. Our purpose here is to highlight certain characteristics of winning retailers from a study we completed with RIS News called “Store Matters”, where we looked at retailer’s current technology installs and plans for the future.
While the US is ready to boom 12 months post COVID, the rest of the world is 3-12 months behind in recovery according to our recent consumer study. It was February/March of 2020 when much of the world economy came to a screeching halt due to COVID-19. Politicians deemed some retailers as “essential” and others “non-essential” leading to a $285b USD transfer of wealth from non-essential retailers to essential retailers worldwide and a $250b transfer of wealth from small retailers to larger companies. -from IHL Group
Aggregate retail revenue for the Global Powers of Retailing Top 250 companies was US$4.85 trillion in FY2019. A new section provides a short preview looking at how the COVID-19 pandemic has impacted the retail revenue growth of the Top 25 global retailers. A favorite annual report.
73% of large retailers say the importance of using robotics in warehouses or distribution centers has increased due to factors that emerged during the pandemic. 47% of retailers will be involved with an in-store robotics project within the next 18 months. -from braincorp.com
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