Sara Lone, Research Director from retailX, unpacks key findings from the retailX global retail report, including key trends and data from global markets. Sara identifies both the biggest opportunities and permanent changes retailers will face in 2020 peak and beyond.
In this session, hear:
How internet usage varies globally
Where the greatest proportion of online shoppers are located
The opportunities of emerging markets
How consumer behaviour is changing
To help delegates understand the global retail trends, opportunities and changes that have happened this year, Linn Academy 2020 was joined by Sara Lone, research director at retailX. She shared some of the key findings from retailX’s soon-to-be published global retail report.
The report analyses 34 countries across the world, looking at both emerging and highly developed markets.
Lone said the research showed that in 2020 global internet usage is forecast at 65%, while global online shoppers are forecast to be 53%. UK, Germany, France and then the US dominate in terms of the proportion of online shoppers.
Shift online for both consumers and retailers.
She also provided a more in-depth snapshot of Europe, with Western Europe leading in terms of B2C ecommerce turnover but with southern Europe competing hard. Some of biggest growth rates are in still developing markets however, she explained.
COVID-19 increased the shift to online for both consumers and retailers. “We see a lot of retailers opting to get online if they have never been before or changing their digital marketing strategies to accommodate a heavier flow of online traffic,” she said. In North America for example over half (52%) of SMES not online had started to sell online as a result of the pandemic.
Consumer behaviour has also changed. “The 55 years plus are more likely now to shop online because of COVID-19. This has been a really interesting trend and in many countries there have been studies to show they have the desire to continue shopping online.”
The trend for local, both to overcome logistics challenges and to support businesses close to them, has also been evident globally, said Lone.