Over 184,000 shoplifters and dishonest employee apprehensions in 2020 by just 22 large retailers, who recovered over $81 million from these thieves. The average shoplifting case value increased 13.0% and the average dishonest employee case value increased 3.8% over 2019.
There can be many definitions of what a winning retailer might be, but for this research we defined a winner for 2020 as a retailer that saw a total sales increase of 10% or more. Our purpose here is to highlight certain characteristics of winning retailers from a study we completed with RIS News called “Store Matters”, where we looked at retailer’s current technology installs and plans for the future.
While the US is ready to boom 12 months post COVID, the rest of the world is 3-12 months behind in recovery according to our recent consumer study. It was February/March of 2020 when much of the world economy came to a screeching halt due to COVID-19. Politicians deemed some retailers as “essential” and others “non-essential” leading to a $285b USD transfer of wealth from non-essential retailers to essential retailers worldwide and a $250b transfer of wealth from small retailers to larger companies. -from IHL Group
Aggregate retail revenue for the Global Powers of Retailing Top 250 companies was US$4.85 trillion in FY2019. A new section provides a short preview looking at how the COVID-19 pandemic has impacted the retail revenue growth of the Top 25 global retailers. A favorite annual report.
73% of large retailers say the importance of using robotics in warehouses or distribution centers has increased due to factors that emerged during the pandemic. 47% of retailers will be involved with an in-store robotics project within the next 18 months. -from braincorp.com
Each of these trends were already in place – the pandemic simply added rocket fuel to the technology adoptions. Contactless payment options are expected to grow 168% and self-checkout installs are expected to grow 136% during the next two years across all retailers. -from ihlservices.com
The retail landscape was thrown for a loop over the past 12 months, and although things are stabilizing across the industry with a return to “normalcy” in our reach, the industry is still radically different than it was a year ago. Not surprisingly, survey takers describe the current state of retail as “changing,” “transforming,” “in flux” and “unpredictable.”
The coronavirus pandemic has reshaped the European grocery-retail landscape at unprecedented speed and scale. Five major forces at the heart of this change came together and reinforced each other. In the “next normal,” grocery retail will once again need to rebalance its role within the broader ecosystem with restaurants and other options. -from McKinsey & Company
64% of online shoppers intend to order more online in the next six months. Year over year, all metrics point to increased usage and curbside sees the greatest gains (35% vs. 13%). 75% of surveyed shoppers completed an in-store or curbside pickup in the past six months with 22% completing 11 or more. -from DigitalCommerce360
What we’ve learned is extraordinary. We discovered eye-opening surprises that reflect just how unprecedented the next era will be, with new priorities and new areas of focus. From emerging expectations around remote work to accelerated technological adoption, the leading practices of yesterday and requirements of tomorrow are far from aligned.
The pandemic has changed the food and consumer goods retailers and manufacturers permanently. The good news is that the pandemic has accelerated technology investments that were long overdue. The bad news is the peak and surge exposed many issues that were hidden before. And as long as these problems are not fixed, the margin erosion in this new world is akin to continually picking a scab. The wound never heals.
Apple is named world’s most valuable brand. Tesla leaves traditional auto marques behind with fastest brand value growth. E-commerce brands thrive in new normal, with Alibaba.com doubling in brand value, but chain retailers cash in on home delivery too – Walmart climbs up to 6th rank
Global economy would shrink by 3% in 2020 (IMF forecasted 3% growth at the beginning of the year). China is the only major economy for which GPC is expected to rise. Retail consumption has been gradually improving in China with online now accounting for more than 25% of total retail sales. -from Pwc CN
This favorite retail industry annual study examines the trends for the coming year in the area of technological advances that impact retail operations, growth plans, budgets and planned technology purchases for 2021 and beyond. Look for my companion blog discussing it. -from RISNews
Page 11 of 35