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 moreJun 2020
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Retail is fast-moving and fierce, with new domestic and international entrants constantly challenging existing stores. Retailers need to create and match experiences and moments from the start of shoppers’ journey to the end, and to succeed it is important to focus on all touchpoints. Retailers unwilling to embrace change, evolve and innovate risk being rendered irrelevant. This report examines how these trends are playing out in Australia and how companies can take advantage of this.
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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.
It is vital to be able to execute a brand and retailer strategy that spans the entire shopping journey: pre-purchase, during purchase and post-purchase. The retailers that will achieve success understand that shopping is not limited to excelling only in one aspect.
In Australia, shifts in technology, economics and consumer behaviour are rewriting the shopping journey. In a world of increasing choices, consumers’ attention span is short. Retailers face an uphill task to better reach and engage with their audiences.
Australians still cherish and expect to be able to see and touch products. Retailers that want to stay relevant and competitive need to merge physical and digital experiences to create a unified commerce environment.
The shifts in consumers’ decision-making and expectations mean that in today’s increasingly competitive and complex world, not all loyalties are equal. Improving the last-mile journey and creating and maintaining customer loyalty are some of the other key factors to re-engage consumers in the future.
Developments and innovations in this retail environment are fast and rampant. Meaningful and relevant developments will capture consumers’ attention.
Retailers need to spend more resources obsessing over each and every touchpoint that consumers have with their brand. Success will require more than just converting the cart.
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.