In conjunction with the NRF BIG Show, Deloitte Touche Tohmatsu Limited (DTTL) has released its 2015 Global Powers Of Retailing, Embracing Innovation report.
Among the key findings, the report revealed that the top 250 retailers generated combined revenue of $4.4 trillion in 2013. The retailers were analyzed based on financial performance, geographic region, product sector and e-Commerce activity.
DTTL also spotlighted some of the top trends poised for growth in 2015. They include:
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- Travel retailing: International tourism will continue to grow. Additionally, the middle class will expand in emerging markets, helping to boost worldwide travel and overall retail sales. DTTL also predicts that retailers will cater to high-spending travelers in 2015, especially in emerging markets.
- Mobile retailing: As more consumers use their mobile devices to access information and content on the web, retailers will respond by offering free in-store Wi-Fi and mobile-optimized web sites. As a result, privacy and security will become increasingly important for both retailers and shoppers.
- Faster retailing: Millennials will drive the retail industry’s shift toward “fast retailing,” which will include getting runway styles to stores faster, as well as limited-time-only products and flash sales. Pop-up stores and self-service checkouts and kiosks will become more popular in order to help improve shoppers’ access to products.
- Experience retailing: To stand out, retailers will explore innovative ways to enhance the buying experience. Social media campaigns, festival sponsorships, fashion shows and interactive displays will help retailers differentiate their brands and products.
- Innovative retailing: More retailers will adopt innovative practices and embrace technology to create more compelling and memorable experiences.
