Global Shopping Trends
Trends Multi channel Global Shopping trends
Submitted By: Bharat Bhushan Narang (Roll No 18) EPGDIB - 2012 - 14 Subject: IMM Indian Institute of Foreign Trade, New Delhi Faculty: Dr. R. M. Joshi
1. Introduction Multi channel Global Shopping trends
1. Background
“91% of global consumers believe that companies must go beyond the minimum standards required by law to operate responsibly.” Cone Communications/ Echo, May 2013 “87% of global consumers believe business should place at least equal emphasis on social interests as business interests, and ‘purpose’ has increased as a purchase trigger by 26% since 2008.” 1 of 14
Edelman, April 2012 Globalization is not a new trend for retailers: in fact, it was the theme of last year’s Global Powers of Retailing. In 2012, retailers will continue to look to enter new markets like Asia Pacific, Africa and South America as higher growth in these regions continues, and they will look to improve their existing operational performance in these markets to achieve sustained growth. Along the way, retailers have learned that to succeed in emerging markets they must significantly customize both their market models and product offerings to meet local needs and preferences. In addition, expect retailers to more fully empower store and regional managers when developing marketing and sales plans, given the managers’ better understanding of local consumer and community needs. Finally, real estate will continue to be of great importance when entering new markets, given the difficulties of gaining a foothold when local operators already own the best locations. Retailers will not only be looking for growth in emerging markets; they will also look to innovate in multichannel strategies, mobile and data analytics to maintain or grow their market shares in
Submitted By: Bharat Bhushan Narang (Roll No 18) EPGDIB - 2012 - 14 Subject: IMM Indian Institute of Foreign Trade, New Delhi Faculty: Dr. R. M. Joshi
1. Introduction Multi channel Global Shopping trends
1. Background
“91% of global consumers believe that companies must go beyond the minimum standards required by law to operate responsibly.” Cone Communications/ Echo, May 2013 “87% of global consumers believe business should place at least equal emphasis on social interests as business interests, and ‘purpose’ has increased as a purchase trigger by 26% since 2008.” 1 of 14
Edelman, April 2012 Globalization is not a new trend for retailers: in fact, it was the theme of last year’s Global Powers of Retailing. In 2012, retailers will continue to look to enter new markets like Asia Pacific, Africa and South America as higher growth in these regions continues, and they will look to improve their existing operational performance in these markets to achieve sustained growth. Along the way, retailers have learned that to succeed in emerging markets they must significantly customize both their market models and product offerings to meet local needs and preferences. In addition, expect retailers to more fully empower store and regional managers when developing marketing and sales plans, given the managers’ better understanding of local consumer and community needs. Finally, real estate will continue to be of great importance when entering new markets, given the difficulties of gaining a foothold when local operators already own the best locations. Retailers will not only be looking for growth in emerging markets; they will also look to innovate in multichannel strategies, mobile and data analytics to maintain or grow their market shares in
References: Reference Location/URL/Name http://www.marketingprofs.com/charts/2013/11301/globalshoppingindianslikebran dsgreeksgoforgifts http://hk.nielsen.com/documents/Q12010OnlineShoppingTrendsReport.pdf http://www.pwc.com/en_US/us/retailconsumer/publications/assets/pwcusmulticha nnelshoppingsurvey.pdf Reference Type Global Shopping trends Global Shopping Trend PWC trends report on multichannel shopping Forbes in future online http://www.forbes.com/sites/lauraheller/2011/04/20/thefutureofonlineshopping10 shopping trends to watch Trend Watching Global trends retail trendstowatch/ http://www.trendwatching.com/trends/pdf/201309%20DEMANDING%20BRANDS.p df industry http://www.stores.org/STORES%20Magazine%20January%202012/2012globalretail industrytrends 2. Acronyms Reference Type PwC Reference Location/URL/Name PricewaterhouseCoopers 14 of 14