Shopping Reinvented and Its Impact on Retailing
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Shopping Reinvented reflects how economic and technological shifts have rewritten the shopper journey holistically. In prior years, purchases revolved around the transaction itself, maybe with a little bit of word-of-mouth “research”. Today, shopping is a journey, whose purpose is not just buying, but relationship building.
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Shopping Reinvented and Its Impact on Retailing
- 1. SHOPPING REINVENTED AND ITS IMPACT ON RETAILING FARHAT HANIF DECEMBER 2017
- 2. SHOPPING REINVENTED PATH TO PURCHASE SHOPPING REINVENTED IN ACTION KEY TAKEAWAYS
- 3. © Euromonitor International 3 About Euromonitor International ABOUT EUROMONITOR INTERNATIONAL
- 4. © Euromonitor International 4 Shopping reinvented is one of our eight focus megatrends SHOPPING REINVENTED Experience More Shifting Market Frontiers Healthy Living Shopping Reinvented Ethical LivingMiddle Class Retreat Premiumisation Connected Consumers
- 5. © Euromonitor International 5 Shopping Reinvented spans all phases of the shopper journey PATH TO PURCHASE Shopping Reinvented Pre-Purchase Purchase Post-Purchase Personalisation Experiential Shopping Instant Gratification Blended Store Format Value for Money Seamless Checkout Last Mile Reimagined OmnichannelEngagement
- 6. © Euromonitor International 6 Innovative formats offer higher convenience SHOPPING REINVENTED IN ACTION Experiential Shopping Instant Gratification Last Mile Reimagined
- 7. © Euromonitor International 7 Brands look at omnichannel engagement to lure consumers SHOPPING REINVENTED IN ACTION Experiential Shopping Blended Store Formats Seamless Checkout
- 8. © Euromonitor International 8 Blurring lines between Store-Based and Internet Retailing SHOPPING REINVENTED IN ACTION Bubble Size : 2016 Retail value RSP in INR bn Store-based Retailing 34,151 Internet Retailing 1,450 -1% 4% 9% 14% 19% 24% 29% 34% 0% 10% 20% 30% 40% 50% 60% 70% 80% ForecastCAGR2016-2021 Historic CAGR 2011-2016 Store Based vs Internet Retailing in India Deeper discounts and the convenience of shopping on the go Rise in omnichannel engagement
- 9. © Euromonitor International 9 Shopping reinvented: What to focus on KEY TAKEAWAYS Framework Enhance Experience Journey Beyond Transaction Build Relationship Reinforce Value
- 10. THANK YOU FOR LISTENING Farhat Hanif | Global Market Analyst Farhat.Hanif@Euromonitor.Com https://www.linkedin.com/in/fh2016 @euromonitor Read more retailing analysis on our blog or follow us on Twitter for instant updates http://blog.euromonitor.com/category/retailing