Voice of the Industry: Retailing

December 2021

Euromonitor International’s Voice of the Industry: Retailing survey includes the opinion from more than 450 professionals working at retailers and consumer brands on performance, trends, innovation and strategic priorities related to the retailing industry.

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Key Findings

Voice of the Industry: Retailing survey explores the perception and opinions of retail professionals globally

This Voice of the Industry: Retailing survey includes the opinions from more than 450 professionals working at retailers and consumer brands on performance, trends, innovation and strategic priorities related to the retailing industry.

Retail industry expected to rebound in 2021 and exhibit strong growth in the next five years

Euromonitor International projects a modest positive forecast CAGR of 6% from 2021 to 2026. Similarly, an overwhelming percentage of professionals expect positive growth in their company in 2025, according to this Voice of the Industry survey conducted in June 2021.

E-commerce is a driver for growth, but in-store retailing accounts for majority of total retail sales

More than 60% of global retail professionals expect e-commerce penetration to be at least 20% of total retail sales. This share will continue to grow in the retail space and one can expect this percentage to exponentially increase in the years to come.

The global pandemic has affected consumers’ behaviour from short term to permanently

Adapting existing products, services and campaigns to new consumer needs and preferences is a must in the short term. In the longer term, an increasing focus by global consumers on prioritising product and service features that amplify convenience, availability and value and supporting local communities will be crucial.

An omnichannel strategy and accelerating digital transformation are vital for the next 12 months

In the next 12 months, providing the necessary investments in both in-store retailing and e-commerce will be vital for retailers to be able to successfully implement an omnichannel strategy that is able to pivot and respond easily to the ever-changing consumer demands.

 

 

Scope
About Euromonitor’s Voice of the Industry survey series
Key findings
Positive outlook for the retailing industry in the forecast period
Retailing industry expected to rebound across most categories and regions in 2021
Retail e-commerce expected to exhibit strong growth in the next five years
Sustainability is the key trend that is expected to make the biggest jump over time period
More than 60% of global professionals expect e-commerce penetration to be less than 20%
Percentage of consumers that shop via mobile devices differs across regions
Integration and lack of resources and expertise hinder omnichannel development
The global pandemic continues to impact consumer behaviour
Retailers continue to re-evaluate strategic priorities, roles of different channels
Re-inventing the physical store of the future requires changes in store formats
Aim of new in-store experiences focused on elevating the brand
Global retailers’ in-store retailing investment plans over the next 12 months
Global retailers’ digital retailing investment plans over the next 12 months
Key takeaways
About Euromonitor International’s Voice of the Industry survey series
Respondent breakdown
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