Consumer Goods & Retail

Consumer Goods & Retail

In the retail and consumer products industries businesses must stay on top of fast changing consumer preferences and wants, as well as a growing regulatory and compliance environment, all while pursuing their own business goals and objectives. This necessitates close attention to a wide range of industry developments and concerns.

The consumer and retail industries have been invaded by new paradigms. The conscious customer has emerged as a new actor in this business, thanks to millennials, digital transformation, new consumer assets, new behaviours, and other issues. The emphasis on better eating, sustainable consumption, and ethical behaviours has resulted in a slew of new entrants into the market.

Market View

• With segment consolidation and a trend in retailer expansion through more locally or niche-tailored storefronts, pop-up locations, and smaller format concepts, the marketplace is witnessing a critical phase in the evolution of big box stores and huge national retailers.
• The marketplace is seeing a steady trend toward internet-based or assisted commerce, with goods vendors either competing with or adopting such sales channels.
• Global consumption, impacted by millennials and changing consumer behaviours, has forced this industry to digitally adapt company structures in order to meet these new customers’ tastes and expectations.
• Retailers and other consumer-facing industries are continuing to be on high alert when it comes to customer data security. New rules and practises are being developed in response to data breaches and privacy concerns in order to preserve client data and maintain consumer trust.

Market Outlook