Deloitte’s 18th annual Global Powers of Retailing report explores innovative trends in the sector

Top retail trends in 2015

·      Travel retailing –International tourism is set to continue to rise above expectations despite continuing global geopolitical and economic challenges. The expanding middle classes of emerging markets are traveling to the world’s capitals and boosting retail sales.  For example, over half of France’s 16 billion Euros luxury industry depends on tourists[2].  In 2015, retailers are expected to increasingly cater to high-spending travelers, especially emerging market tourists to drive growth.

·      Mobile retailing – Mobile retailing is expected to continue to grow aggressively. Sixty-five percent of the global population will be using a mobile phone by 2015 and an estimated 83 percent of internet usage will be through handheld devices.[3] Retailers will need to respond by offering free in-store Wi-Fi and mobile-friendly retail websites optimized for different kinds of personal devices.  Privacy and security will become increasingly important as trust, transparency and protecting customer information will be critical in retaining loyalty as mobile retailing becomes the norm. 

·      Faster retailing - Speed continues to remain an important trend in retail. This includes: “fast fashion” (getting runway styles to the stores as soon as possible); limited-time-only products and flash sales to drive urgency and immediate purchase; pop-up establishments to quickly get products and services to market and build buzz; and self-service check-out and kiosks to reduce or eliminate waiting. In 2015, retailing is forecast to get even faster to meet consumers’ desires. Millennials will be driving much of this as they are the largest generation, with a lot of spending power, and carry a lot of influence. They prefer fast response and immediate gratification, and retailers will cater to that.

·      Experience retailing - Retailing is no longer just about the product, but the experience. Retailers will continue to explore innovative ways to enhance the buying experience for their customers through social media campaigns, festivals, fashion shows and interactive displays.

·      Innovative retailing- The retail industry will continue to be disrupted by new technologies and innovative competition. More retailers are likely to adopt innovative practices, embrace technology and use it in creative ways.  

Vicky Eng, DTTL Global Sector Leader, Retail: “The retail sector is going through a significant period of change.  The speed of innovation and the disruption being felt across the industry will continue, as the demands of customers continue to increase. To succeed in this environment, retailers will need to respond quickly to threats and opportunities ensuring they are quick to implement innovations of their own. This will require a connecting strategy, capabilities, and specific initiatives, guided by the insights provided by market data.”

Top retail trends in 2015

·      Travel retailing –International tourism is set to continue to rise above expectations despite continuing global geopolitical and economic challenges. The expanding middle classes of emerging markets are traveling to the world’s capitals and boosting retail sales.  For example, over half of France’s 16 billion Euros luxury industry depends on tourists[2].  In 2015, retailers are expected to increasingly cater to high-spending travelers, especially emerging market tourists to drive growth.

·      Mobile retailing – Mobile retailing is expected to continue to grow aggressively. Sixty-five percent of the global population will be using a mobile phone by 2015 and an estimated 83 percent of internet usage will be through handheld devices.[3] Retailers will need to respond by offering free in-store Wi-Fi and mobile-friendly retail websites optimized for different kinds of personal devices.  Privacy and security will become increasingly important as trust, transparency and protecting customer information will be critical in retaining loyalty as mobile retailing becomes the norm. 

·      Faster retailing - Speed continues to remain an important trend in retail. This includes: “fast fashion” (getting runway styles to the stores as soon as possible); limited-time-only products and flash sales to drive urgency and immediate purchase; pop-up establishments to quickly get products and services to market and build buzz; and self-service check-out and kiosks to reduce or eliminate waiting. In 2015, retailing is forecast to get even faster to meet consumers’ desires. Millennials will be driving much of this as they are the largest generation, with a lot of spending power, and carry a lot of influence. They prefer fast response and immediate gratification, and retailers will cater to that.

·      Experience retailing - Retailing is no longer just about the product, but the experience. Retailers will continue to explore innovative ways to enhance the buying experience for their customers through social media campaigns, festivals, fashion shows and interactive displays.

·      Innovative retailing- The retail industry will continue to be disrupted by new technologies and innovative competition. More retailers are likely to adopt innovative practices, embrace technology and use it in creative ways.  

Vicky Eng, DTTL Global Sector Leader, Retail: “The retail sector is going through a significant period of change.  The speed of innovation and the disruption being felt across the industry will continue, as the demands of customers continue to increase. To succeed in this environment, retailers will need to respond quickly to threats and opportunities ensuring they are quick to implement innovations of their own. This will require a connecting strategy, capabilities, and specific initiatives, guided by the insights provided by market data.”

Top retail trends in 2015

·      Travel retailing –International tourism is set to continue to rise above expectations despite continuing global geopolitical and economic challenges. The expanding middle classes of emerging markets are traveling to the world’s capitals and boosting retail sales.  For example, over half of France’s 16 billion Euros luxury industry depends on tourists[2].  In 2015, retailers are expected to increasingly cater to high-spending travelers, especially emerging market tourists to drive growth.

·      Mobile retailing – Mobile retailing is expected to continue to grow aggressively. Sixty-five percent of the global population will be using a mobile phone by 2015 and an estimated 83 percent of internet usage will be through handheld devices.[3] Retailers will need to respond by offering free in-store Wi-Fi and mobile-friendly retail websites optimized for different kinds of personal devices.  Privacy and security will become increasingly important as trust, transparency and protecting customer information will be critical in retaining loyalty as mobile retailing becomes the norm. 

·      Faster retailing - Speed continues to remain an important trend in retail. This includes: “fast fashion” (getting runway styles to the stores as soon as possible); limited-time-only products and flash sales to drive urgency and immediate purchase; pop-up establishments to quickly get products and services to market and build buzz; and self-service check-out and kiosks to reduce or eliminate waiting. In 2015, retailing is forecast to get even faster to meet consumers’ desires. Millennials will be driving much of this as they are the largest generation, with a lot of spending power, and carry a lot of influence. They prefer fast response and immediate gratification, and retailers will cater to that.

·      Experience retailing - Retailing is no longer just about the product, but the experience. Retailers will continue to explore innovative ways to enhance the buying experience for their customers through social media campaigns, festivals, fashion shows and interactive displays.

·      Innovative retailing- The retail industry will continue to be disrupted by new technologies and innovative competition. More retailers are likely to adopt innovative practices, embrace technology and use it in creative ways.  

Vicky Eng, DTTL Global Sector Leader, Retail: “The retail sector is going through a significant period of change.  The speed of innovation and the disruption being felt across the industry will continue, as the demands of customers continue to increase. To succeed in this environment, retailers will need to respond quickly to threats and opportunities ensuring they are quick to implement innovations of their own. This will require a connecting strategy, capabilities, and specific initiatives, guided by the insights provided by market data.”