KPMG’s Global Consumer & Retail practice discusses some of the biggest retail trends impacting the industry right now.
In this report, we explore some of the biggest retail trends impacting the industry in 2017 and how some leading retailers around the world are beginning to respond and adapt their strategies to thrive.
1. Technology is changing the customer experience
Technology is growing at an exceptionally quick rate. The retailers who are adapting and evolving are those who will likely succeed.
2. Mobile shopping continues to grow
Adobe’s 2016 mobile retail report showed a 54 percent year-on-year increase in visits to retail sites from smartphones.
3. Creating a meaningful experience is critical
Meaningful customer experience and brand engagement is crucial. Customer experience is the next competitive battleground.
4. Personalization is the future of retail
The HSO report, The importance of personalization in retail, shows that businesses that are currently personalizing online user journeys, and who are also able to quantify the improvement, are seeing an increase in sales of 19 percent on average.
5. Attracting and retaining talent is critical
The need to attract, retain and develop a workforce that meets the growing needs of the marketplace is more vital than ever. In order to grow, retailers need to make sure they are attracting and retaining talent with the correct skill sets.
For more on each trend and real life case studies, download the full report.