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Amazon and Alibaba continue to expand into Western Europe—Amazon with hopes of capturing a greater European consumer base, and Alibaba selling luxury European goods to its tens of millions of consumers in China.
China is poised to become the world’s top retail market in 2019, surpassing the US by more than $100 billion, according to eMarketer’s latest worldwide retail and ecommerce forecast.
Consumers, especially younger ones, are thinking harder about issues like ecological impact and labor practices when making purchases.
Retail executives and consumers in the US, the UK and Australia have widely disparate expectations about artificial intelligence's (AI) and virtual reality's (VR) effects on the retail sector.
Declining mall foot traffic and competition from direct-to-consumer brands and private-label offerings have hurt mid-tier merchants like Toys “R” Us and Sears. But dollar stores are flourishing.
Retail is undergoing a technological transformation that is driving retailers to automate redundant tasks and revamp their mobile strategies.
Direct-to-consumer (DTC) brands such as Warby Parker, Casper and Everlane have shifted how brands interact with their customers. By cutting out the middleman and establishing online relationships with customers directly, guaranteeing swift delivery and painless buying experiences, as well as positioning themselves as a better alternative to the status quo, DTC brands are carving out a new retail experience.
Mcommerce has grown rapidly, and all signs point to continued strong growth. We forecast that US smartphone retail mcommerce sales will grow nearly 38% in 2019, reaching $205.15 billion. This will account for over three-quarters of US mcommerce sales.
Retailers often focus on customer acquisition—a costly prospect—at the expense of customer retention. Instant gratification can be a bigger incentive than building loyalty over time. In a November 2018 Retail TouchPoints survey, retailers' spending on acquisition and retention weren't radically different on the surface. Most budgets for both tactics hovered in the 10% to 40% range, but nearly three times as many retailers allocated 50% or more to acquisition.