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 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.
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.
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.
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.
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.
Sales of new and used goods to the general public for personal or household consumption. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts, fuel. Also excludes foodservice, rental and hire and wholesale industries (Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retailing is the aggregation of Store-based retailing and Non-store retailing. Retailing 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, ie retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer which 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 retailing. In relation to click and collect purchases (i.e. where purchases are made over the internet but picked up at store) where the sales data is attributed depends on where the payment is made: If payment is made in store, then the sale is included in store-based sales. If payment is made over the internet, then the sale is included in internet retailing.See All of Our Definitions
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