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Research

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

August 15, 2022
 

Understanding the Path to Purchase: 2022 Global Consumer Types

This 2022 Euromonitor report focuses on the eight consumer types that businesses should prioritise this year. Several habits and values are consistent with consumer types from previous years. Interesting read for targeting consumers for success - From Euromonitor International

August 08, 2022
 

Retail Workers and the Great Attrition - and What Retailers Can Do About It

One out of five people in the United States works in the retail and hospitality sector, and at least half of frontline retail workers are thinking about quitting.  The number-one driver of attrition was flexibility, and we should come back to that one because it’s interesting for a number of reasons. The next two are career development and health and well-being. - From McKinsey

August 01, 2022
 

PwC's Global Economic Crime & Fraud Survey 2022

46% of surveyed organizations reported experiencing some form of fraud or other economic crime within the last 24 months. 1 in 8 organizations experiences new incidents of supply chain fraud as a result of the disruption caused by COVID-19. – From PwC

July 25, 2022
 

The Impact of Organized Retail Crime and Product Theft in the United States

The economic impact of retail crime is profound. Retailers face increased costs for lost product, security, and labor, which lead to higher prices for consumers and ultimately, lower sales. Lower sales translate to fewer jobs throughout the economy. The result is $125.7 billion in lost economic activity and 658,375 fewer jobs, paying almost $39.3 billion in wages and benefits to workers. - From Buy Safe America and RILA

July 18, 2022
 

The Metaverse in 2040

54% expect by 2040 the metaverse will be a much-more-refined and truly fully-immersive, well-functioning aspect of daily life for a half billion or more people globally. Hype? Hope? Hell? Maybe all three. - From Pew Research

July 11, 2022
 

The Convenience Experience Report - A New Consumer Study on Gas & Convenience Stores

6 in 10 consumers consider purchasing a meal from a convenience store when stopping for fast food. 62% would visit a c-store more often if drive-thru or curbside pickup was available. To win and retain customer loyalty, gas discounts are imperative. - From Bluedot.io