Year-On-Year Growth Of Retail Market Segments
LONDON, GREATER LONDON, UK, December 8, 2017 /EINPresswire.com/ — Globally over 90% of retail purchases are still made offline, according to research from The Business Research Company. Despite this, the continuous erosion of their market share that stores enjoyed before companies like Amazon and Alibaba entered the scene has them worried. In-store automation and data analytics are the most significant elements of the segment’s response.
Stores are automating operations such as container movement, merchandise scanning, inventory checking, retrieving, packaging, and delivering products, as well as connecting with customers. Automation reduces waiting times, avoids stocking problems, enhances productivity, and increases the overall customer experience. The change most widely seen by customers is self-checkout stands, but other innovations include American retailer Lowe’s installion of multi-lingual, autonomous customer assistance robots in 11 locations in the San Francisco Bay area. Walmart has patented a system of self-driving shopping carts.
The number of retailers using big data analytics is growing as the data allows them to ‘know’ their customers and provide customized shopping experiences. The Swarm app, for instance, enables brick and mortar stores to analyze footfall so that they can make better decisions and tailor customer experiences. The Collect platform gives merchants insight into the spending habits of their customers, and so allows them to send personalized rewards and offers.
As the chart shows, it is general stores, which are mainly department stores, which show the weakest growth. Specialty retailers, such as supermarkets, are faring a little better. The Business Research Company forecasts show that globally the stores’ fight-back will be successful enough to keep their market growing at over 4% year on year, a slightly higher rate than recently, though not enough to prevent the further erosion of their share by ecommerce, which will grow at nearly 10% annually.
The global retail market is highly fragmented: the top five players combined account for less than 4% of the global total. The USA’s Walmart, Costco and Kroger are still the largest, despite the rise of Amazon. Some mergers and acquisitions in this market have attracted attention – Amazon’s takeover of Whole Foods Market, and Walgreens of Alliance Boots and Rite Aid. Overall, however, it would be wrong to conclude that significant consolidation is taking place at retail. It is still the domain of small and medium-sized businesses.
Where to Learn More
Read Retail Market Global Briefing 2017 from The Business Research Company for information on the following:
Markets Covered: Specialty Retailers, Department Stores & Other General Merchandise Stores, and Ecommerce & Other Non-store Retailers.
Companies Mentioned: Wal-Mart, Costco, Kroger, Amazon Inc., Home Depot, Schwarz Unternehmens Treuhand KG, Aldi Einkauf, GmbH & Co., CVS Health, Carrefour, Tesco
Geographic scope: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa.
Time series: Five years historic and forecast.
Data: Market value in $ billions.
Data segmentations: Regional breakdowns, market share of competitors, key sub segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Interested to know more? Here is a full scope of Biologics and Pharmaceutical Drugs Market reports to explore:
1. Retail And Wholesale Market Global Briefing 2017 (https://www.thebusinessresearchcompany.com/our-research/retail-and-wholesale/retail-and-wholesale-market-global-briefing/)
2. Retail Market Global Briefing 2017 (https://www.thebusinessresearchcompany.com/our-research/retail-and-wholesale/retail-market-global-briefing-2017/)
3. Wholesale Market Global Briefing 2017 (https://www.thebusinessresearchcompany.com/our-research/retail-and-wholesale/wholesale-market-global-briefing-2017/)
4. Specialty Retailers Market Global Briefing 2017 (https://www.thebusinessresearchcompany.com/our-research/retail-and-wholesale/specialty-retailers-market-global-briefing-2017/)
5. Department Stores And Other General Merchandise Stores Market Global Briefing 2017 (https://www.thebusinessresearchcompany.com/our-research/retail-and-wholesale/department-stores-general-merchandise-stores-market-global-briefing-2017/)
6. Ecommerce And Other Non-Store Retailers Market Global Briefing 2017 (https://www.thebusinessresearchcompany.com/our-research/retail-and-wholesale/ecommerce-non-store-retailers-market-global-briefing-2017/)
About The Business Research Company
Visit TheBusinesResearchCompany.com. The Business Research Company is a market research and intelligence company which excels in company, market and consumer research. It has research professionals at its office in the UK, India, and the US as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services and technology. The Business Research Company’s management have more than 20 years of varied business research experience. They have delivered hundreds of research projects to the senior management of some of the world’s largest organizations. The Business Research Company’s Consultant have master’s qualifications from top institutes and include MBAs, MSCs, CFAs and CAs. The Business Research Company’s Consultants gain training and qualifications from the market Research Society and are trained in advanced research practices, techniques, and ethics.
Oliver Guirdham
The Business Research Company
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