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A customer-centric approach to supply chain management is challenging; it requires a deep understanding of consumer expectations and behaviors, not just today but also for the foreseeable future. For starters, consumers appetite for digital commerce is skyrocketing. In 2020, global ecommerce sales reached $4.2
Our newly published research, US Online Retail Forecast, 2023 To 2028, shows that both offline and online US sales will reach record levels this year. As we’ve said many times, the store is flourishing and far from “dead!”
As part of its Triple Shot Reinvention Strategy — one of the key objectives of which is to become “truly global” — Starbucks plans to more than double its current India store count to 1,000 brick-and-mortar locations by 2028. Starbucks operates in India through a 50:50 joint venture with Tata Consumer Products called Tata Starbucks.
Canada Goose is planning to more than double its physical footprint from the current 51 locations over the next five years as it pursues revenue of $3 billion by 2028. Canada Goose also will invest in improving and streamlining operations, with the goal of reaching $150 million in saved and avoided operating costs by the end of fiscal 2028.
athleisure market as a whole is expected to grow at a compound annual growth rate (CAGR) of approximately 7% through 2028. In a post-pandemic world, the Chinese consumer is even more focused on the importance of health and wellness,” Lawrence said.
The remaining two-thirds stake in the project is held by Extell Development Company , and the building is scheduled for tenant occupancy in 2028. “ This next phase of our investment and expansion in the U.S. in a statement.
Ulta Beauty is a market leader in a robust, healthy consumer category, and we have delivered strong and consistent profitable growth and shareholder value over time,” said Paula Oyibo, CFO of Ulta Beauty in a statement. The retailer also plans to open 60 to 65 net-new stores this year, as well as remodel or relocate 40 to 45 other locations.
The experts agree, predicting that global AI in the retail market will surpass $24 billion by 2028 , growing at 24.4% Tools like visual search enable consumers to use images for searching. By continuously training and evolving models to map changing consumer behaviors, the possibilities for engagement are limitless.
In addition to the compressed retail rush, Salesforce reports that 43% of consumers are carrying more debt than last year, making the fight for attention even more intense. Whether consumers search for a “shoe store near me” or “holiday gift ideas,” it plays a pivotal role, accounting for multiple touch points along the buyer’s journey.
As consumers demand more flexible payment options, it is no surprise that the digital top-up card industry has had a strong year. billion by 2028, rising at a market growth of 14.2% Consumers value the convenience these offer. Consumers are not the only beneficiaries of this method of payment.
This month, Shein announced it would invest an additional $50 million in the program over five years , bringing the company’s total investment to $105 million through 2028. Shein has come under scrutiny for alleged use of Uyghur forced labor in its supply chain, with 22 U.S.
Retailers today are faced with mounting pressure to maximize their bottom lines while maintaining cost expectations for consumers. billion in 2028. But amid volatile market changes, ever-evolving customer expectations and increased competition online, this is increasingly challenging to realize. Enter artificial intelligence (AI).
” IL MAKIAGE joins a growing list of retail and consumer brands that are acquiring tech companies to bolster their data-driven capabilities. Even smaller companies like 1822 Denim have been able to boost conversions and consumer confidence using this type of technology. billion by 2028, according to Grand View Research.
Retail media networks (RMNs) are rapidly becoming one of the most lucrative digital ad formats, with predictions suggesting that by 2028, RMNs will contribute to 15.4% This allows them to merge smaller, disparate data sets in real time, providing a more detailed view of consumer behavior.
Right now, retailers are selfishly positioning their customer journey to benefit their marketing efforts, not the end consumer. Ditch the Redirects The consumer path to purchase has undoubtably changed. Lean into Consumer Convenience Today’s consumer isn’t sitting down at a computer and making a concerted effort to shop online.
CVS’ partnership with Microsoft focused on developing innovative solutions to help consumers improve their health, while empowering over 300,000 CVS Health employees with tools to attend more than 100 million people. from 2021 to 2028); vegan products; and blue zone-specific assortments, among others.
The state of retail in 2025 Retail is a booming market, projected to reach $28 trillion by 2028. While physical stores still account for most of consumer spending, ecommerce continues to grow steadily. Brands are navigating a world of rising costs, shifting consumer preferences, and political challenges.
Unbeknownst to many consumers, AI has become a powerful force steering online searches — serving up search results that, ideally, match exactly what we’re looking for. billion in 2028. online consumers abandon their carts and go elsewhere if they can’t find what they’re looking for on a site. billion in 2023 to $14.07
billion in revenue by 2028. However, Boisson is differentiating itself by helping drive and fulfill consumer demand with a robust omnichannel strategy that creates a flywheel effect not just for the business, but for NA collectively. a more suburban area where consumers live and shop. “We
Based on social media analysis on consumer sentiment. Approximately 40% to 60% of consumers cite plastic packaging as an important aspect of sustainable consumption. Global crises have made consumers more discriminating and retailers more creative. Predictive analytics takes things a step further. Remote Working.
Senior leaders will have candid conversations about: The evolution of loyalty programs and branded communities; How brands are combining visual storytelling and experiential activations to drive store strategies ; Ways to better personalize and contextualize digital experiences for consumer needs and lifestyles.
trillion by 2028. During the pandemic, consumers largely stuck in shutdown mode flocked to digital entertainment and signed up for regular home delivery of boxes of items. GfK’s FutureBuy survey found that 22% of consumers are likely to continue using subscription services, which is 7% higher than in 2020.
In 2024, the sector navigated a period of change driven by shifting consumer expectations, economic pressures, and evolving workplace dynamics. A new government in the UK introduced policies that have influenced business operations and consumer spending patterns, particularly in areas such as taxation and sustainability incentives.
But as consumers expectations change and technology and business evolve, theres no denying the potential. trillion in 2028. Build trust: Offering local currency also increases consumer confidence. These kinds of products and services have different requirements than physical items or one-time purchases.
Average consumer household spend on lawn and garden supplies surged 29.1% As the market remains uncertain and consumer habits continue to fluctuate, what does the future hold for the lawn and garden industry? billion by 2028. With consumers spending more time at home, outdoor furniture sales are growing.
On the headline stage, Retail Economics CEO, Richard Lim, will provide a financial outlook to 2025 and beyond, mapping the key challenges and opportunities for retailers looking to optimise and stream-line business operations while adapting to new cost-of-living consumer behaviours.
Consumers want to be entertained. It’s expected to grow 26% by 2028. The consumer rationale is simple: “If I am going to enjoy something that personally engages me with a brand, they have to know something about me. Conclusion Consumer engagement and retention strategies are key to building long-term consumer loyalty.
billion by 2028, registering a CAGR of around 22.4% from 2021 to 2028, according to reports from Grand View Research. Affirm and Afterpay are just two of the tools consumers can use to access the buy now, pay later services they need. Currently, the global buy now, pay later market size is expected to reach a value of $20.4
billion by 2028. The global live ecommerce market is estimated to reach $2 billion by 2028 While live commerce was undoubtedly growing anyway, it was the pandemic that led to accelerated growth. 71% of consumers expect personalization. billion in 2022 and is forecasted to reach $2,880.3
A rise in environmental consciousness among consumers and the cost of living crisis has enabled pre-loved and second-hand fashion businesses like Vinted to start making profits. Becky Willan, CEO and Co-Founder of Given Changes in consumer demand – what does this mean for the fashion industry? So which business model will win?
CB Insights ) Go to the top Adoption of AI Statistics The number of companies and everyday consumers leveraging AI-powered solutions has increased drastically in the last couple of years. In the coming years, the number of consumers and companies using AI is likely to increase even further. billion by 2028. billion by 2030. (
In a world of instant gratification, same-day delivery, and evolving consumer expectations, ecommerce retailers can’t afford to underestimate the power of rapid Fulfilment. trillion by 2028, and companies who want to “cash in” on the industry need to be prepared. However, they’re not entirely opposed to paying extra for fast shipping.
Climate change, consumer demand and government initiatives are all shedding light on the troubling effects of fashion waste, and they are pushing for the circular economy to take its place. were secondhand, and 75% of consumers have shopped for or are open to shopping for secondhand clothing. What is the impact of these activities?
For Japan and Korea, they’re mature markets known for their advanced technology adoption and high consumer expectations, while Australia and New Zealand serve a stable, well -developed markets with a strong digital penetration. And the key to success in APAC is to understand and cater to these diverse payment preferences.
Imagine for a moment that it’s 2028. Even I never quite anticipated just how quickly the market and consumer expectations would be completely and radically transformed. Ten years have passed, and your online retail business is thriving. What does it look like? If it’s a difficult picture to paint, we wouldn’t blame you.
Such changes have revolutionized the retail industry and consumer behavior and wouldn’t have been possible without the creation of cloud-based POS software. Cloud POS trends are booming, with nearly 28% of retailers planning to adopt this technology to shape the future of their sales operations and improve consumer satisfaction.
billion by 2028. Go to the top Sezzle vs Afterpay: For Businesses Both Sezzle and Afterpay are similar BNPL providers, offering solutions to both consumers and businesses alike. For consumers, Sezzle and Afterpay are convenient shopping tools, but they can also be risky.
Today’s audience seeks active participation, and this shift fuels the rise of interactive platforms that blur the lines between creators and consumers. From product launches to behind-the-scenes glimpses, companies are leveraging live streams to humanise their brand and build deeper connections with consumers.
As consumer demands continue to evolve, and competition is hotter than ever, retailers are embracing innovative solutions to stay ahead. billion in 2028. ** AI in retail has a wide range of applications, including: Predictive analysis that helps retailers use the insights in their data to plan for the future. billion in 2021 to $31.38
Global sales in 2024 are at $1.046 trillion US dollars, and forecast to grow by $130 billion to $1.176 trillion by 2028. Of all the consumer electronics, the favourite by a mile is the smartphone. Today’s ‘must-have’ device is tomorrow’s ‘has been’. Showrooming – Shoppers usually start their electronics research online. .
billion by 2028. Personalizing the customer journey for more enjoyable experiences Today’s consumers expect a personalized experience from the brands they buy from. Why AI is critical to retail success The global AI market in retail is expected to reach $31.18 AI in action Outdoor Research produces product copy 4x faster with Talkoot.
The Global Footwear Market: An Overview After being buffeted by the pandemic and accompanying supply chain disruptions, the footwear industry has bounced back and is now projected to grow at a CAGR of 5% and hit $314.2bn by 2028. However, On isn’t just relying on product innovation to grow at scorching rates.
Four years later, consumers continue to define the home as a multifunctional space, proving that this redefinition of the home is not a fleeting trend. It also became an office, classroom, fitness space, and entertainment hub.
The eCigarette and vape industry alone was valued at over $6 billion in 2020 and the expected annual growth is nearly 30% until 2028. Both federal and state governments continue to take steps to regulate the industry in order to protect younger consumers. Vape and tobacco shops have seen remarkable growth over the past several years.
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