Global Powers of Retailing 2013 – Retailing beyond
The retail industry is in the midst of a customer revolution. The collision of the virtual and physical worlds is fundamentally changing consumers’ purchasing behaviours. Consumers are seeking an integrated shopping experience across all channels, and expect retailers to deliver this experience. Failure to deliver puts retailers at risk of becoming irrelevant. The key drivers of this customer revolution are the rapid adoption of mobile devices, digital media and tablets equipped with shopping apps. In fact, the number of smartphone users in the United States will rise to 159 million by 2015 from just 82 million in 2010. Traditional retailers must find opportunities to seamlessly embed the virtual world into their retail strategy by developing in-store and online technologies that allow them to create and maintain meaningful and sincere connections with customers across all channels.
As consumers seek an integrated shopping experience across channels – and in some cases across geographies – retailers are being put to the test. How can they find a path to success that not only addresses the needs of their customers today, but is also flexible enough to continually evolve with rapidly evolving customer interest and expectations?
The 16th annual Global Powers of Retailing report identifies the 250 largest retailers around the world for the past fiscal year. But the report is much more than a list – it also examines these pressing trends for retailers to consider as they plan their growth strategies, provides a global economic outlook for retail, and discusses the "Q ratio" – a way of drawing inferences about the future performance of retailers by examining current financial information.
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