Total Retail 2016

They say they want a revolution

 

In PwC’s most comprehensive Total Retail survey to date, we asked nearly 23,000 online shoppers around the world about issues ranging from mobile shopping to social media influence to innovation at retailers. Their answers reveal the changing behaviors that will drive the next retail revolution.

 

In this report, we present and discuss the findings of our global Total Retail survey-together with additional PwC analysis and thirdparty research to uncover these eight insights of the next retail revolution.

1. To understand future global shopping behavior, look to China. Our historical data shows that what China was doing several years ago, today’s consumers across the globe are doing.

2. We may live in the age of value-but price is still king. Years of slow global economic growth have resulted in a value dynamic, and affordability is important in every income bracket, in virtually every country, across every age group.

3. Store traffic doesn’t matter as much as overall customer conversion across channels. Customers are voting with their feet as they shop more online, and for multi-channel retailers that means the need for an increasingly focused, curated and engaging brick-and-mortar store experience that creates maximum conversion—no matter what channel ultimately records the purchase.

4. Retail talent (finally) matters. Ever-more sophisticated customers want employees who can enhance the brickand- mortar store experience: associates with the product knowledge, technology knowhow, and people skills.

5. Mobile devices have turned the corner as purchasing tools. Mobile commerce is now firmly on the march toward becoming the online shopping tool of choice.

6. Today’s consumers look to community. A deeper connection with retailers via customer “communities” is apparent as consumers pick up on the perks of membership.

7. Social media is the “great influencer.” Customers are relying on social media—in addition to their family’s opinions, advertising messages, and media coverage—to make product decisions and gauge brand authenticity.

8. There is room for retailers to grab the “leading innovator” mantle. While consumers see plenty that is innovative about their favorite retailer, very few retailers qualify as “leading innovators” in shoppers’ minds.

Contact us

Adnan Akan
Retail and Consumer Industry Leader
Tel: +90 212 326 6061
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Hüsnü Dinçsoy
Advisory Services Leader
Tel: +90 212 376 5302
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Yüksel Toparlak
Tax Services Partner
Tel: +90 212 326 6082
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