Retailing Global Industry Overview

March 2020

The global retailing industry is undergoing a transformation, as e-commerce continues to grow, both as a channel and as a means of interacting with shoppers. This briefing serves as a guide to the current state of play, surveying key regional and channel trends, as well as the five most important global trends for the next five years.

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Examining five trends shaping retailing

Asia is the future

China will be the fastest growing retailing market over 2019-2024. While it will not happen in the next five years, it is not difficult to imagine China becoming the largest retail market in the world within the next 10 years.

The permanent shift to e-commerce

In 2020, e-commerce will become the largest channel globally, accounting for 15% of sales. In 2024, that proportion will be 20%. Retailers will need to respond to the permanent consumer shift to buying online.

Squeezed middle classes

With stagnant incomes, the middle class, especially in developed countries, are more value-orientated than ever. Retailers must bear this in mind when it comes to their own positioning and their competition.

Omnichannel retail is a necessity

Advances in technology have reshaped consumer behaviour, and the shopping journey is no different. Retailers will need to adapt, blending digital and physical experiences to meet consumer demand for a seamless shopping experience.

Ethics inform consumers’ shopping decisions

Sustainability and ethical consumption choices are becoming increasingly relevant to consumers across industries, and retailing is no exception.

 

Introduction

Scope

Top five Trends Shaping the Industry

Examining five trends shaping retailing
Areas of opportunity

Global Outlook

Retailing sales growth to remain relatively stable
E-commerce drives non-store retailing to be the top growth channel
The digital revolution is happening at different speeds
China and the US show the greatest growth opportunities

Leading Companies and Brands

The retail industry is fragmented
Walmart struggles while Alibaba thrives
E-commerce bolsters Chinese retailers

Top Five Trends Shaping the Industry

Key megatrends shaping global retailing
Examining five trends shaping retailing
The Asian century will reshape the retailing landscape
Connected Consumers will be mobile-first
Middle-income consumers want maximum value
Omnichannel shopping will become the norm
Ethical consumption is on the rise

Market Snapshots

Global snapshot of grocery retailers
Global snapshot of non-grocery specialists
Global snapshot of mixed retailers
Global snapshot of non-store retailing
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia
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