Worldwide consumer confidence has shot up to its highest level for four years according to a survey of 130 Global Retail leaders

Sponsored Content

World Retail Congress Logo___

·         The biggest leap was in Western Europe where sentiment is six times more positive than a year ago, according to the study released at the 10th Annual World Retail Congress

·         The findings, in a study by Australia’s Monash Business School, set a positive tone to the start of the Rome event, which expects over 1,000 delegates from around the world

Other key findings in the report, now in its fourth year, are:

Price, value and convenience are uppermost in consumers’ minds, with quality and the ‘shopping experience’ also highly rated.

The growing influence of social media is also highlighted both by consumers and retailers. 

But, despite the increasing significance of digital channels, the physical retail space is still the most important in influencing where consumers shop. Some 89% of retailers still consider the physical store to be the most important channel for enabling the shopping experience, up from 73% in the prior year’s survey.

In an increasingly fickle retail environment, where shoppers can engage in so many different ways, customer loyalty is seen as the biggest opportunity, although possibly the biggest future challenge too, for retailers. Continued growth online, coupled with new product development, are also highlighted.

The research was conducted during August and September 2015, amongst a group of leading retail experts, 77% of whom are Chairmen or CEOs, with over a third from businesses with annual sales of more than US$1 billion.

They expect retail revenue increases in most markets, but the strongest growth prospects are the Middle East and Africa with 81% and 79% of those surveyed respectively expecting sales increases in these regions.  In contrast, 39% expect China’s sales growth rate to decrease. 

Despite China’s slowdown Asia still remains the focus for international growth as retailers recognise the attractive demographics and consumer affinity for brands.

Across all markets the most important priority for growth is analysing customer data, which will help the understanding of customer behaviour.

This is increasingly being impacted by social media with 55% of retailers believing that consumers are heavily influenced by social media and peer group recommendations.  Brands also feel that the digital world is putting them under pressure as it can provide instant feedback, which can go viral, with 67% of those quizzed saying they feel their brands are more in the spotlight than ever.

Ian McGarrigle, Chairman of the World Retail Congress, commented: “It is reassuring to hear that retailers are optimistic about the future, but clearly also recognise that the age of disruption is well and truly upon us and the digitally aware consumer is leading the way that retailers must follow.”

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

An EU Summit without purpose

Varna (Bulgaria) awarded European Youth Capital 2017

Healthcare for refugees: a necessary symbiosis of medicine and politics

MWC 2016 LIVE: Freemium MVNO model a success, claims FreedomPop head

Germany openly seeks more advantages for its banks

Gas pipeline in the European Union. (Copyright: EU, 2012 / Source: EC - Audiovisual Service / Photo: Ferenc Isza)

EU Investment Bank approves € 1.5bn loan for Trans Adriatic Pipeline (TAP)

The third bailout agreement for Greece is a done deal amid European economies full of problems

“As German Chancellor I want to be able to cope with the merger of the real and digital economy”, Angela Merkel from Switzerland; the Sting reports live from World Economic Forum 2015 in Davos

Disaster Medicine in Medical Education: the investment you just can´t afford to ignore

YO!FEST ENGAGES 8,000 YOUNG EUROPEANS IN FUTURE OF EU

Spanish and Polish voters are crying out for an imminent European change while US urge now Germany to change route

Gender Equality in Medicine: are we now so different from the Middle Ages?

Brexit talks: Today the world to hear of a predictable failure

ECB: The bastion of effective and equitable Europeanism keeps up quantitative easing

Eurozone at risk of home-made deflation and recession

France: New labour laws for more competitiveness

Technology is delivering better access to financial services. Here’s how

Is Europe ready to cooperate with the rest of the world? Can Germany change its selfish policies?

A very good morning in European markets

On Human Rights Day European Youth Forum calls for end to discrimination of young people

Does EURES really exist?

MWC 2016 LIVE: EC adds Brazil to partner tally

EU and UK soon to be in a post-Brexit rush over free trade agreement with Australia

MWC 2016 LIVE: Zuckerberg warns mobile industry not to ignore the unconnected

Commission: New proposal for centrally managed bank resolution

COP21 Breaking News_03 December: UNFCCC Secretariat Launches Forest Information Hub

The European Parliament rewrites the EU budget in a bright day for the Union

Currency Union might not let an independent Scotland join the EU as the “Yes” front now leads

China answers clearly to the European Commission’s investment negotiations with Taiwan

Macron’s Presidency: what the young generation’s expectations are

Dark spots on EU humanitarian aid spending

Is South Korea set to lose from its FTA with the EU?

Making money from meeting the SDGs? An overarching approach to sustainable development.

G20: Less growth, more austerity for developing countries

WEF Davos 2016 LIVE: “There is a communication issue (about China) which markets don’t like” Christine Lagarde, Managing Director of IMF stresses from Davos

EU budget: Will Germany alone manage Britain’s gap?

Crisis hit countries cut down public spending on education

The 28 EU leaders care more about fiscal orthodoxy than effectively fighting youth unemployment

UN envoy ‘encouraged’ by latest talks on avoiding ‘worst-case scenario’ in Syria’s Idlib

ECB intervenes to clean May’s and Schäuble’s mess

EU car manufacturers worry about an FTA with Japan

EU prepares for the worst case scenario as Turkey seems to be withdrawing from the migration deal

Why do overwhelming proportions of EU’s youth feel excluded?

Is Erdogan ready to tear down the bridges with Europe and the West?

The Commission offers exit from the EU budget stalemate

Sudzha gas metering station at Russian-Ukrainian border (Copyright: Gazprom, 2015 / Gazprom’s website, Media)

Gazprom starts suspending gas contracts with Ukraine as Brussels fears limited transit to Europe

Bundesbank’s President Weidmann criticises France and the EU. Credibility at risk?

Yellen and Draghi tell Trump and markets not to expedite the next crisis

MWC 2016 LIVE: Verizon boasts momentum for IoT platform

Israel @ MWC14: Israel The Start App Nation

EU to Telcos: Stop Mergers and Acquisitions but please help me urgently with 5G development

Parliament cuts own spending to facilitate agreement on EU budget

Germany to help China in trade disputes with Brussels

The Commission tells Berlin it is legally obliged to help Eurozone out of stagnation

Can Obama attract Iran close to the US sphere of influence?

The ECB must extend its money stimulus beyond 2018: Draghi reckoning

EU Council: The US airlines may freely pollute the European air

Advocate General ‘outlaws’ Data Retention Directive

How Greece was destroyed

Climate negotiations on the road to a strong Paris agreement rulebook

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s