Report Global Powers of Retailing

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Global Powers of Retailing 2017

The art and science of customers

The economic environment for retailers continues to be challenging. How will trends – including globalization, deflation and commodity prices – impact retail growth or disruption over the next year? This Global Powers of Retailing report focuses on the theme of "The art and science of customers," and considers the impact that living in the customer-driven economy is having on the shopping experience and retail industry business strategies.

The 20th annual Global Powers of Retailing

Global Powers of Retailing 2017 discusses the art and science of customer engagement to help retailers design fresh experiences, enabled by the right technology, and strengthen customer loyalty. While the five trends discussed are not new, what is interesting for 2017 is that what was once futuristic is now table stakes. Retail innovators know technology is no longer supplemental to the shopping experience, it is fundamental. Technology alone, however, is not enough. Customers are seeking new and surprising products and experiences.

Five trends identified in the report are:

1. Less is more

Customers are defining themselves less by how many things they own and more by how curated their lives are in terms of possessions and experiences.

2. “Following” economy

Customers are seeking experiences and products that reflect the personal brand they promote on social media.

3. “Retailization” of the world

The maker movement, the sharing economy, and other factors have made it increasingly difficult to define what a retailer is and does.

4. On-demand shopping and fulfillment

Relevancy will be determined by the ability of retailers to meet the on-demand mindset of the modern customer.

5. Exponential living

Exponential technologies, like artificial intelligence, robotics and virtual reality are changing how we live and how we will shop.

Global Powers of Retailing 2017

Global economic outlook

Slow economic growth in major developed economies, high levels of debt in emerging countries, deflation or low inflation in rich countries and a protectionist backlash against globalization were among dynamics which contributed to a challenging economic environment for retailers. And yet people still need to shop, so the industry carries on. In some places and with some cohorts of shoppers, the outlook for retailers is favorable.

Top 250 retailers

This report marks the 20th year of identifying the 250 largest retailers around the world and analyzing their performance across geographies, sectors, and channels. This year’s report finds that the top 250 global retailers generated aggregated revenues of US$4.31 trillion in FY2015 (fiscal years ended through June 2016), representing composite growth of 5.2 percent.

More information?

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