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Research

January 02, 2023
 

Do Americans Really Expect 2023 to be a Better Year?

Following a very challenging couple of years in 2020 and 2021, many people around the world feel 2022 has been a little better. Two in three Americans (64%) are hopeful that 2023 will be a better year than 2022. However, there are some lingering concerns about a wide array of issues, stretching from rising prices to unemployment to natural disasters. - From IPSOS

December 19, 2022
 

2022 Consumer Returns in the Retail Industry

Total returns account for $816 billion in lost sales for U.S. retailers.  For every $1 billion in sales, the average retailer incurs $165 million in merchandise returns. Additionally, it found that for every $100 in returned merchandise accepted, retailers lose $10.40 to return fraud. - From National Retail Federation and Appriss Retail

November 28, 2022
 

The World Has Changed - Have Retailers? - 15th Annual Zebra Global Shopper Study

There is a notable gap between how retailers believe they are performing and how shoppers feel in key areas. Shoppers prefer easy returns (80%), get in and out of stores quickly (76%), and offer order delivery to home (75%).  45% of retailers will convert more cash register space to self-checkout and 43% are converting space to contactless checkout. – From Zebra

November 21, 2022
 

Take Back Control of the Retail Supply Chain - Supply Chain Technology Study 2022

The top supply chain strategy for 2023, according to retailers, is to expand local fulfillment/micro-fulfillment (45%), which can be used to increase speed of delivery to consumers and stores. When data from plans in 2022 and 2023 are combined, the top supply chain strategy over the next 18 months is optimizing fulfillment to the customer to improve margins, chosen by a huge 92%. - From RIS News

November 07, 2022
 

The Inflation Disconnect Between Retail Executives and Consumers

The breadth and magnitude of disconnects between retail executives and consumers on inflation’s consumer impact are astonishing. Across the board, consumers are concerned about inflation and recession and are changing their actions and buying patterns accordingly, from shopping differently to save money, to cutting back on discretionary and essential spending, to saving less. - From First Insight

October 31, 2022
 

2022 Deloitte Retail Holiday Survey

74% say they will spend more or the same on the holidays than last year (vs. 75% in 2021).  Shopping online takes home a 63% share, on par with the last two years.  In-store shopping continues to rebound, growing from 28% in 2020 to 35% in 2022. - From Deloitte Insights

October 24, 2022
 

How Retailers Can Win Consumer Loyalty in an Omnichannel World

IHL’s 2022 consumer study confirmed that in a world with increasing online orders, the primary reasons consumers shop in-store are: they need the items now (75%) or they want to touch and feel or try on items before purchasing (57%). Inventory distortion (the annual cost of overstocks and out-of-stocks) has risen to $1.9 trillion in losses for retailers across the globe. Across all segments, more than 25% of customers report decreased trust in retailers based on inventory levels. - From IHL Services

October 17, 2022
 

Retail Tech: Three Ways Tech is Influencing Consumer Shopping Preferences

The average American consumer spends more than four hours a day on mobile devices, which provide retailers with a much more efficient way to build brand awareness and loyalty among consumers.  By 2026, one-quarter of all consumers worldwide are expected to spend at least one hour per day in the metaverse, where retailers will want to establish an engaging presence. - From CBRE

October 10, 2022
 

Technology Report 2022: Tech Companies Eat Disruption for Breakfast

In June, the number of private billion-dollar start-ups exceeded 1,100, according to data from CB Insights, a more than tripling in five years of these once-rare unicorns. As a group, they  reached a value of roughly $4 trillion to $5 trillion before the recent market correction. The underlying technological and business model innovation that made this possible remain sound. But the market shock of 2022 has clear ramifications—and offers new opportunities—to stars, fallen angels, and savvy tech incumbents. - From Bain & Company
October 03, 2022
 

The Implications of Inflation on the Retail Industry - Fall 2022 Report

More than two-thirds of the U.S. economy is fueled by consumer spending which held strong through the spring despite inflation’s historic highs. There are signs that the spending streak could come to a halt, as almost three-quarters of consumers say they are adjusting their spending habits. - From Colliers
September 26, 2022
 

2022 Holiday Report From Samba TV and HarrisX

Despite economic uncertainty, a majority of U.S. adults plan to spend the same or more money on holiday shopping this year. However, due to inflation and the rising price of goods, almost half of consumers also expect they will actually purchase fewer gifts. Not all age groups will be handing out coal this season. Millennials remain primed to spend, with more than 8 in 10 planning to spend the same or more this year compared to last year. - From HarrisX

September 20, 2022
 

2022 USA National Retail Security Survey

Similar to the last five years, the average retail shrink rate in 2021 was 1.4%. When taken as a percentage of total retail sales in 2021, that shrink represents $94.5 billion in losses, up from $90.8 billion in 2020. While retail shrink encompasses many types of loss, it is primarily driven by external theft, including theft attributed to ORC.  - From the National Retail Federation

September 12, 2022
 

Mastercard Spending Pulse: Holiday Season Retail Insights 2022

This year, the holidays are expected to shape up to be yet another positive retail season – with omnichannel offerings and heavy promotions being key drivers. U.S. retail sales (excluding automotive) are expected to increase 7.1% year-over-year, according to the Mastercard SpendingPulse™ annual holiday forecast. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.

August 29, 2022
 

Can Retailers Handle the Truth - The True Cost of Out-of-Stocks and Over-Stocks

In 2022, the problem has grown to over $1.9 USD trillion worldwide, an increase of 12.7% since 2020, a year that included panic buying. While the worldwide cost of Inventory Distortion is on pace to grow $230 billion from 2020 to 2022, overall sales are on pace for a growth of $3.6 trillion in the same period. The systems that are being deployed are working, but the massive disruptions due to gaps in the supply chain, shortages in personnel and raw materials, and government shutdowns have only grown the problem worldwide. - From the IHL Group
August 22, 2022
 

Raconteur Future of Retail 2022

As was, Brexit and inflation continue to shake retail, the industry is finding innovative ways to adapt and survive. Raconteur’s Future of Retail 2022 report examines how brands are diversifying to offer non-traditional services, embracing new possibilities of deliveries with drone technology and exploring the opportunities offered by the metaverse. From a UK point-of-view and Raconteur