下面是小编为大家整理的WBD-2020年零售报告：数字引爆点（英文）（全文完整）,供大家参考。
Forewords 1
Executive Summary 2
Introduction 4
The tipping point 6
The digital revolution: past, present and future 8
1. Customer Journey evolution 8
2. The evolution of online 12
3. Importance of age for category penetration 13
4. Increased pace and spend of online 14
5. Increasing significance of Gen Z and millennials 16
6. Faster, cheaper in-home deliveries 17
7. Fewer stores drives consumers online 18
8. Better connectivity and more powerful devices 19
9. New retail business models 20
10. The rise of AI 21
Risks to a digital future 22
Conclusion 24
Forewords
Richard Lim, Retail Economics
Gavin Matthews , Head of Retail at law firm Womble Bond Dickinson
It’s no exaggeration to say that the retail industry is undergoing a period of unprecedented change. Despite concurrent waves of political and economic upheaval in our midst, our work with retailers suggest this is a mere distraction from the seismic structural shifts reshaping the retail landscape.
The obliteration of analogue consumerism over the previous decade has been fuelled by the rapid and ongoing transition towards online, the growing importance of experiences and heightened consumer expectations. Cumulatively, these powerful factors have unveiled a very disruptive digital age.
Online retail is being driven on apace due to a heady combination of factors; early adopters in the retail market who can flex and adapt their business models quickly will stand the best chances of success.
However, as retailers leverage new technologies to support rising demand for a seamless online consumer experience from an
increasing number of digital natives, new risks also emerge.
Consumers are increasingly conscious of the need to protect personal data and their privacy in order to reduce the risk of fraud, identity theft and misuse of their data. Real damage can be done to a retailer’s brand and reputation
with any kind of data breach and the loss of trust that follows can have
far reaching consequences for any business and its bottom line.
New and emerging technologies will empower further online growth as artificial intelligence and 5G dovetail to enhance retailers’ capabilities
for speedier and cheaper online fulfilment, including in-home delivery. Meanwhile, innovative new retail business models will emerge. Subscriptions, auto-replenishment and fewer (but more experiential) stores will drive online sales to heights where online will become the largest channel within the next 10 years.
Successful retailers have always had to reinvent themselves to stay relevant. However, the pace of change will inevitably prove too fast for many. While the impact of future technologies and consumer acceptance is highly uncertain, it definitely feels like the digital retail-
revolution is only just getting started.
Retailers must prioritise data security or risk losing consumers who already believe that sharing data with companies is far more of a benefit to the company than themselves. Although many
currently consider financial rewards or free and discounted products as a fair exchange for their personal data this attitude may harden if consumers do not think retailers are protecting their information adequately.
With the world of retail going through such unprecedented change and retailers more exposed than ever with the speed and power of social media, the stakes are high and getting it wrong is not an option.
womblebonddickinson.com 2019 Retail report 1
Executive Summary
FACTORS POWERING ONLINE GROWTH
Gen Z and millennials will be half of the adult population in 10 years
62% of 16-24 year olds (Gen Z) said that they shop online at least every fortnight (compared with just 29% aged over 65 years), averaging almost three online purchases per
Faster, cheaper and in-home deliveries
Top 3 factors which would drive further online growth include:
month.
Cheaper deliveries
Easier returns
Faster Delivery
Millennials spend the highest proportion online, currently averaging £42.32 per
online transaction and spending
£110.45 online each month.
all of which are key areas of investment for retailers.
Easier returns are more important for Gen Z ( 28% ) and millennials ( 30% ) than
ennials
any other age group. [taken from results]
womblebonddickinson.com 2019 Retail report 2
47%
26%
26%
Online growth
in the next
53%
will account for
of retail 10 years
sales
21% 28%
Gen Z 30%
Mill
3
p ta
RISKS TO ONLINE GROWTH
Consumers protecting their data
Over a quarter of respondents have taken some action to limit the amount of data shared with companies, reaching almost a third for
16-24 year olds.
Fewer stores in the future boosts online convenience
Online accounts for a quarter of shopping occasions
25%
Most believe businesses benefit the most
Two thirds of consumers think that businesses benefited more than consumers in the exchange of personal data .
Just 8% of respondents thought that consumers benefited the most with 26% saying that there was an
10%
of consumers say they will shop less in physical stores in next 12 months
equal exchange of value.
Five consecutive years of net
closures of retail stores
Consumers to demand more in exchange for data
Financial rewards, free and discounted products rank most highly for consumer references in terms of a da exchange.
womblebonddickinson.com 2019 Retail report
Introduction
A new age of retail has emerged over the last decade. This age is characterised by a richly textured digital landscape, buzzing
with new technologies, devices and online communities which has gradually overshadowed analogue consumerism.
Seismic shifts have fundamentally changed the way in which consumers research, purchase and consume products from retailers
of all sizes, types and across all channels. An array of varied
touch-points influence, enhance and intelligently ‘nudge’ shoppers through an ever-expanding number of paths to purchase, from increasingly personalised social media campaigns to stockless
stores where merchandise is viewed through augmented reality apps.
Successful retailers have always had to reinvent themselves throughout history; the most successful listen
to their customers, embrace change and invest wisely for the future. However, the race to digital transformation is occurring at such a pace, many retailers are struggling to keep up with disruptive frontrunners.
Those retailers enjoying success appear to be those adopting new technologies at pace in order
to leverage new opportunities. Nevertheless, new risks are emerging too. Consumers are increasingly conscious, even defensive, over their data protection rights and seek an equitable exchange of value in favour of data relinquishment. With this backdrop, the impact of future technologies and consumer acceptance is
highly uncertain.
Advancements in technology will power speedier and cheaper online fulfilment, which will increasingly
be delivered in-home. Emerging subscription models, auto- replenishment and the shift towards fewer (but more experiential) stores will facilitate aggressive online migration.
The burning question for many retailers is whether they can pivot swiftly enough while swimming against unpredictable tides of digitisation. Retailers must embrace change, have a unique proposition and continue to innovate in order to survive.
With digital natives expected to form the majority of the adult population in the next ten years, we forecast that online will account for more than 50% of all retail sales
by 2028. This report unearths unique insights concerning the causative forces driving the digital customer journey and reveals stark differences across consumer segments. The digital retail revolution is only just getting started, but ultimately – a tipping point will emerge.
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The tipping point:
The majority of retail spending to be online within 10 years.
Today’s customer journey is truly unrecognisable from the analogue path observed just a decade ago. In the next 10 years, we expect to see the rate of change accelerate as innovative technology shifts the balance of power in favour of the consumer. Powered by technology, changes in the property market, improvements in connectivity, new business models and generational shifts, the physical and online channels will meld together, but online will drive the majority of retail sales within the next 10 years.
This will create significant challenges for the retail industry. The role of the store will evolve from mere product distribution hubs to meaningful customer experience environments, offering discovery, entertainment and escapism. The consumer experience will be embroidered with digital touchpoints that distort the boundaries between what’s physical and digital.
Nevertheless, online will become the main driving force behind retail sales. We forecast that online sales will overtake store-based sales within 8-10 years, with online accounting for 53% of total retail sales by 2028.
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% of retail spending online
Figure 1: Online expected to account for 50% of retail spending within 10 years
60.0%
50.0%
40.0%
30.0%
53.0%
20.0%
1 0 .0 %
0.0%
Source: Retail Economics
2019
2024
2028
Various push and pull factors operate throughout our extrapolated timeline,
1 The customer journey evolution
2 The evolution of online spend
3 Importance of age for category penetration
The main body of our research focusses on each reason in turn, presenting proprietary data where appropriate, supported by analysis to provide a holistic understanding
each wielding both predicable and unpredictable impacts upon our assumptions and overall estimate.
Nonetheless, from the myriad of issues
influencing our headline forecast, our research identifies 10 principal reasons why this is so:
of our headline forecast.
4 Increased pace and spend of online
5...