Global retailing today is defined by paradox. This year’s A.T. Kearney 2019 Global Retail Development Index found that national, regional, and local realities—from Internet connectivity to the availability and cost of labor—continue to shape retail development around the world. That said, economic development and trade policy are still the largest factors in shaping global retail growth.
USA holiday shoppers plan to spend 4% more this year. Consumers say they will spend an average of $1,047.83 this holiday season. Shoppers between the ages of 35 and 44 plan to spend the most at $1,158.63. – From NRF News
Predictions 2020 covers: Artificial intelligence (AI), Automation, B2B marketing, B2C marketing and personalization, Customer experience, Cybersecurity, Data and privacy, Future of work, Regulatory trends, Values-driven consumers, and More.
Retail Winners ascribe higher value to virtually every current IoT capability we put before them: from interacting with customers outside the store to tracking their activities once nearby - all the way into the myriad ways they can improve shoppers’ experiences once within the store’s four walls.
From the World Economic Forum, the top 10 competitive global economies. The global economy is ill-prepared for a downturn after a lost decade for productivity-enhancing measures. Finding a balance between technology integration and human capital investments will be critical to enhancing productivity. Enhancing competitiveness is still key for improving living standards.
For the Fall 2019 Consumer View report, NRF took a look at Generation Z, and found that these young consumers hold significant buying power. Members of Gen Z (born 1995 and later) are still mostly in their teen and pre-teen years, but they’re already exerting influence over household family spending and shopping behavior.
A favorite Trend Hunter Annual Report - Although this report is titled Top 18 Trends for 2020, its implications go much further into the future. Each top trend has been paired to an overarching Megatrend, a broader Insight and a Workshop Question to help you brainstorm for success in the next 3-5 years. Get Ready to Create the Future
5G is now upon us, bringing with it the promise of a host of exciting new services. Between 2018 and 2025, the number of global IoT connections will triple to 25 billion. AI will be key to future business and digital transformation. By the end of 2018, 5.1 billion people around the world subscribed to mobile services, accounting for 67% of the global population.
By the end of 2024, Ericsson predicts that 5G subscriptions will reach 1.9 billion, 35% of traffic will be carried by 5G networks and up to 65% of the global population could be covered by the technology. This makes it the fastest generation to be rolled out on a global scale. Global mobile subscription penetration is now at 104%.
The real reasons shoppers aren't returning to your stores. After one bad experience, 52% will leave without making a purchase. 69% are more likely to shop at a competitor. The real problem is that too many retailers have abandoned the basics that matter most to consumers.
From Walker Sands - The 2019 Future of Retail report reveals that all purchase decisions come down to two factors: convenience and connection. Consumers shopping online expect a convenience that goes beyond the in-store experience, and one of the few drivers of loyalty in a purchase decision is a connection with the brand. It’s no longer about just creating a seamless online-to-in-store experience.
From PwC Research - The market capitalisation of the largest company worldwide has nearly tripled in the past ten years. First time in eight years that Apple has not been the Global Top 100 number one. Nearly half (48%) of the top 100 unicorns valued at $1bn+ as at 31 March 2019 were from the US.
From IHL Group -
Retail continues to go through radical transformation. While most of the mainstream USA press has focused on the sensational and negative, the truth is since January of 2017, the US retail industry had increased sales by $565.7 billion and 8,575 stores.
From RIS News - In just five years, the shopper landscape has dramatically shifted. Shoppers are using online (73%) and smartphone (61%) more while visiting stores (31%) and malls (54%) less. The physical store is undergoing a big-bang moment. Consumer study from a USA POV.
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