In 2022, high inflation supplanted the COVID-19 pandemic as the most pressing threat to the global retail sector, as rates of inflation rose to the highest levels recorded in decades in many Western markets. Despite the gloom, however, there were some bright spots – including a strong showing by a number of markets in the Asian Pacific region, especially India, as well as the surprising resilience of e-commerce.
Not only is sustainability now at the forefront of consumers’ minds, but regulation holding fashion brands accountable for their environmental impact and social practices is coming, led by the EU from the design stage to disposal. Despite grey areas, the EU strategy could reverberate through global value chains, as international brands willing to continue selling in the EU will have to set up their operations to comply.
Euromonitor's Head of Tobacco Research, Shane MacGuill, reflects on the 2023 International Cannabis Business Conference in Barcelona, at which he hosted a panel discussion with industry veterans.
Based on Euromonitor International’s Top 100 City Destinations Index 2022, five out of the top six cities are also ranked among the top 12 in terms of number of short-term rental outlets in 2022. Paris, Dubai, Madrid, Rome and London – all have a great supply of short-term rentals that is crucial for diverse tourism, as well as actively involving local communities in the industry. The only exception being Amsterdam recording a shrinking offer due to its strict regulation policy.
Euromonitor International’s Voice of the Consumer: Lifestyles survey reveals that 30% of consumers are looking to reduce their consumption of animal products. As such, it is no surprise that plant-based innovation has driven so many of the new product launches seen in foods.
Cannabis drinks, still relatively niche and only accounting for a low share of cannabis sales in the markets where they are available, hold the potential to disrupt established drinks ecosystems and the traditions surrounding them, starting with alcoholic drinks.
E-commerce growth is coming down from pandemic-driven highs and achieving a new level of maturity.
You need to become savvier when deploying tactics to reach and engage with digital consumers to grow your online market share. Knowing where companies are winning online is crucial to sharpening your digital strategy.
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Michelle Evans and her team share their insights around the tech trends that are redefining commerce in 2023. We explore how product development is being shaped by social platforms, the influence of gaming culture on shopping websites and ways retailers, brands and hospitality operators are offering more personalized experiences.
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