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Global cross-border transaction market is projected to exceed USD40 trillion in 2028, largely driven by trading. Fast, low cost and secure became the three key service requirements of embedded cross-border transaction solutions, while local penetration in key markets globally is one of the key differentiators. FinTechs have been winning digital wallets, digital banks and other digital services, while incumbent operators expand to digital solutions to enhance partnerships with banks.
The briefing examines how the chemical products industry is performing globally and in the largest countries in terms of chemical products output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries in the region.
This report summarises findings from the Voice of the Industry: Retail survey conducted in July 2023. It offers insights from global retail professionals on their short- and long-term investment priorities, the trends shaping the industry and how they address challenges across different areas. Key topics included the role of post-pandemic stores, digitalisation, cost-of- living's impact, retail media networks, and trends in delivery and fulfilment.
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Rising costs of living pose challenges globally, but companies can find opportunities in several categories, essential and discretionary, especially in underpenetrated fast-growing markets. By considering category adjacencies and focusing on value, innovation, and aligning with evolving consumer lifestyles, businesses can safeguard profit margins and foster long-term growth.
The global economic outlook has further improved in the second half of 2023, supported primarily by the resilience of the US economy. Yet, conversely, global growth expectations for 2024 have declined and even fallen below the rate of 2023. This second consecutive year of a slowing global economy will be due to the impact of restrictive monetary policy in advanced economies, paired with weaker growth in China. Developing economies will maintain solid growth, with Asia Pacific leading the way.
Born between 1995 and 2009, Generation Z (Gen Z) is coming of age alongside significant changes in post-pandemic economy, giving rise to the Gen Z luxury and fashion consumer’s tendencies for price sensitivity, individualistic expression, active participation in user-generated content, and phygital spaces. The rise of Gen Z-geared brands highlight this cohort’s preference for sustainable features. Social media and social commerce are essential to succeed with Gen Z luxury and fashion consumers.