Industry Trends Global megatrends affecting Retail Industries
Sustainability paradigm shift 80% of businesses believe sustainability will have a long term impact on profitability
Consumers demanding new levels of value 10%
Disruptive market entrants 53% increase in new business applications were filed in 2021 in the US alone
Purpose-driven retail 83% of Millennials favor brands that align with their values and prioritize ethical consumption over price
v
of customers strongly agree that most brands deliver on what they consider a “good experience”
Retail companies are balancing disruption and continuity.
Today, retail companies are challenged by higher customer expectations and new market entrants disrupting the industry, while at the same time they must continue to run a profitable retail business in tough economic times.
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