Retailing 2020: Winning in a polarized world, the report was just released by Kantar. In 2020, successful retailers will be those most likely to position themselves to control the vibrant markets they operate. However, the market might be getting increasingly polarized and will manifest itself in multiple ways in 2020.
Retailing 2020 Shows
Channel Segmentation. Significant growth is expected to see in non-store retailing in the United States. Successful physical store formats look downright different. Most major retail stores operate a large number of physical stores and all of which are designed to please the target customers in various kinds of shopping modes. In fact, physical stores may not be involved in these modes.
As of 2020, non-store retailing is anticipated to take up 12% of the whole non-automotive store retailing market in the United States. The concept of the all-round retailing world lends support to many powers, trends and strategies of development in 2020.
Smaller Space. The future retailing industry will witness more and more retailers operating smaller stores to create new growth. Several markets in the United Kingdom and Mexico have seen this trend. The online world will occupy an increasing share in planned shopping trips, allowing the physical store retailers to take advantage of the immediate or impulsive demand.
Income Disparity. According to the data from the United States Census Bureau and Organization for Economic Cooperation and Development (OECD), the United States is the world’s developed economy in which the income is the most polarized. The polarization will continue to push forward both ends at the economic spectrum toward success and to cater to a wider range of incomes.
Growth in shoppers with fixed income surviving the economic recession. These groups, no matter how much wealth they have, are inclined to pursue the process of making shopping decisions that are increasingly polarized. For categories that these shoppers are mostly concerned about, good tailor-made products will be increased as per their specific request.