The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreApr 2016
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The evolution of internet retailing has been a transition from a highly price sensitive market centred on a few product types to a broad selection of goods and services at varying price points. This increase in sophistication will continue in tandem with the development of users’ needs and habits. This will coincide with expansion of the internet's content and capabilities, making execution and personalisation two top priorities for retailers looking to stand out.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Once price advantage is competed away, retailers have to differentiate if they hope to maintain share growth. If retailers do not, it is too easy for upstarts to challenge margins. Those with a more comprehensive strategy will have taken the time to build up their merchandising and service strategies in order to expand their customer base.
Trust in the internet has developed sufficiently to incentivise shoppers to order different items, and retailers have responded to these advances by offering these products with the appropriate support. Cross-border demand indicates that the future will see many companies attempting to build on this trust internationally.
The ever growing expanse that is the internet can be forbidding, but smart brands will figure out how to position themselves so that they are the solution to information overload. Following the successful selection of a product, payment and delivery will be counted upon also cater to the customer’s specific preferences.
The growing sophistication of the internet gives shoppers more points of entry into the online realm, and retailers would be wise to support as many of these as possible. Companies that cannot offer the appropriate options for engagement risk losing their fickle customers to competitors which can, and in e-commerce the creation of competition is an ever present threat.
The long-term presence of the internet in many people’s lives, and the omnipresence that smartphones have imbued it with are facts of life. Moving forward, users will expect the features and experience to improve. Retailers that are on the cutting edge of this wave of improvement stand to gain by attracting new customers, while giving long-time fans something to help champion.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.