Euromonitor International’s Voice of the Industry: Retailing survey includes opinions from more than 440 professionals working at retailers and consumer brands on performance, trends, innovation and strategic priorities relating to the retailing industry.
This report comes in PPT.
Retail is evolving faster than ever before to meet changing consumer needs. Retailers are seeking data-driven and balanced investment strategies to remain profitable during the current turbulent times. Some, however, see development opportunities and are ready to experiment.
Despite the war in Ukraine, rising inflation, increasing costs, supply chain issues and many other challenges facing companies, retail professionals expect 2022 and the forecast period to see a positive performance by the industry.
More than 75% of global retail professionals estimate e-commerce penetration to be below 20% of their company’s total retail sales. This share will, however, continue to grow rapidly in the years to come.
90% of professionals stated that their businesses are suffering from rising costs of raw materials in 2022. Inflation is raising questions regarding profitability for many retailers around the globe, causing many to rethink their strategies and implement cost-saving solutions.
Combining online and physical locations has become a critical element in retailers’ omnichannel strategies. Retailers have to balance their presence and investments both offline and online in order to make the shopping process convenient, experiential and quick.
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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