Now in its seventh edition, this report explores the top digital shopper trends that will redefine commerce the most in the year ahead. Some of the trends included in this edition touch on topics such as second-hand shopping, community group buying, customisation, gamification, the creator economy and web 3.0.
This report comes in PPT.
A confluence of worsening risks, crises and uncertainties over 2022 have set the global economy on a path of weaker growth. Although Euromonitor does not project a global recession, consumers are nevertheless more tethered to the internet than the last recession, giving way to digital tools to help navigate the economic crisis.
Social networks have become a space for free expression and creativity, empowering consumers to communicate with brands and even go so far as to influence their strategies. Brands are harnessing this daily flow of insights to shape product innovation, giving way to a co-creation process that drives faster and more innovative product development.
Brands are responding to the consumer desire for greater personalisation by giving consumers a broader range of customisation options across all kinds of goods and services sold online. This enhanced level of personalisation has been made possible by artificial intelligence and other technologies that have made it easier for brands to offer custom options on demand.
Companies are gamifying parts of the online experience to drive engagement, collect first-party data, generate revenue and boost profitability in the online channel These new gamified experiences could range from offering a discount code for participating in a game to completing a challenge for access to an exclusive sale or product.
Brands are turning to technology to create a more multi-sensory customer experience online in order to better mimic the feel of in-person shopping. E-commerce portals that once featured only static images and text are being transformed, as brands add not only more immersive visual and auditory content but also take steps to engage the senses of touch, smell and taste.
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.See All of Our Definitions
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