The retail and consumer products industry is hungry to predict the future, yet many past predictions about the retail industry in 2020 have not materialised because most were not supported by data. In this report, we took a different approach looking deeply into data and macro forces to highlight four disruptive forces and seven trends that are fuelling the industry globally and how they can be applied to the South African context.
The retail and consumer products trends were built based on analysis done by Deloitte’s InSightIQ, which actively monitors and aggregates a diverse set of real-time consumer, macro, marketplace, competitive, and economic data sets to better predict how and when brands can win in the marketplace.
InSightIQ looked at more than 450 billion consumer location data points, US$150 billion+ per year in credit and debit card transactions, sales and channel data for more than 10,000 brands, 100,000+ survey responses, economic factors, weather, and hundreds of other traditional and nontraditional variables to make predictions about the directional trends and drivers of consumer behavior.
Four disruptive forces and seven trends shaping the future of retail and consumer products
Read the full Deloitte Insights article here
Deloitte’s Retail and Consumer Products practice helps companies address the challenges and opportunities associated with eroding brand loyalty, changing consumer needs and behaviors, and the impact of digital technologies on all aspects of the business. Our team works with clients to improve internal operations, better serve their customers and develop new market-facing capabilities and channels.