Total Retail 2017
pwc/2017totalretail
10 retailer
investments
for an
uncertain
future
companies are under pressure from shareholders to
cut costs, but at the same time are benefting from
opportunities in this global marketplace. Retailers are
in a tough spot, however, often lacking a global brand
and facing technological upheavals that have left them
in the throes of constant reinvention. That’s why our
2017 Total Retail report is focused on the kinds of
investments retailers will need in order to thrive in
tomorrow’s marketplace. This is the 10th consecutive
year that PwC has published a study of online shoppers,
and our sixth truly global study.
In last year’s Total Retail report, “They say they want
a revolution,” we pointed to consumer behaviors that
had fnally reached a tipping point, among them:
participating in retail communities, using mobile phones
as shopping devices, the emergence of social media as
the “great infuencer,” and consumer demands for more
service-focused and knowledgeable store employees.
This year we added several new areas of research,
including Amazon’s impact and customers’ willingness
to consider retailers as health care providers. We also
delved into other research sources and included the
insights of a number of PwC partners. The result
Ten areas where we believe retailers need to consider
investing in to stay ahead of the competition.
| 2 |
Introduction: A golden
age in consumer choice
means challenging times
for retailers
An advertisement for Colgate’s “Ribbon Dental Cream”
from a January 1912 edition of
The Youth’s Companion
magazine features the tag line “For all the Family.”
The ad promises “Good Teeth, Good Health, and Good
Spirits.” Back then, companies like Colgate and Procter
& Gamble (P&G) advertised almost exclusively in the
popular periodicals of the day.
Ads like Colgate’s harken back to a time with fewer
customer demands and less competition. All the
players critical to the consumer shopping experience—
manufacturers, retailers, and consumers—knew their
“roles” and the script rarely changed.
Fast forward to today. Not only is there no set script,
there are no assigned roles! Consumers are in the power
position, as 2017 is a golden age of choice, convenience
and demand for value, powered by the mobile phone
and the global bazaar just a click away. Consumer
John Maxwell
Global Retail & Consumer leader
PwC’s Global Retail and Consumer practice, in conjunction with PwC’s Research to Insight (r2i), administered a global survey to understand and compare consumer shopping
behaviors and the use of different retail channels across 29 territories: Australia, Belgium, Brazil, Canada, Chile, China/Hong Kong, Denmark, France, Germany, Hungary,
Indonesia, Ireland, Italy, Japan, Malaysia, Middle East (Egypt, UAE, and Saudi Arabia), Poland, the Philippines, Russia, Singapore, South Africa, Spain, Sweden, Switzerland,
Thailand, Turkey, the United Kingdom, the United States, and Vietnam. Totals may not add up to 100% due to rounding.
Our survey covered 6 continents and 29 territories, including 24,471 respondents
| 3 |
The stakes have
never been higher for
allocating precious
investment dollars
Managing return on investment is critical to
a healthy business. Many factors go into investment
decisions, ranging from what merchandise to stock
for what season to how many stores to open in a given
geographic location. Retailers have an opportunity
to take a close look at their investments in customer
experience, staff, technology, and real estate.
The stakes have never been higher for individual
retailers. First, competition has never been fercer.
My PwC colleagues who serve retail clients continually
share how new competitors continue to disrupt the
status quo. To compete in retail today, new entrants
don’t require stores or warehouses, and can be based
around the corner—or on the other side of the planet.
Pure-play online players are popping up in every product
category. The Amazon graphic on the right, based on
data from this year’s Total Retail survey, illustrates how
retailers are competing with Amazon for market share.
Globally, fully 28% of our respondents said that they
shop less often at retail stores because of Amazon; in
the U.S. that fgure was 37%. When it comes to China’s
Amazon equivalent, Tmall, a subsidiary of Alibaba,
24% of respondents from China said that they now shop
less often at retail stores because of Tmall.
39%
37%
35%
34%
28%
Japan
USA
Brazil
Germany
Global
The top four countries where consumers “shop
less often” at retail stores due to Amazon
| 4 |
And don’t forget that branded product manufacturers
are attempting to build their own distribution networks
to traverse “the last mile” to directly engage with
consumers—sometimes fulflling product by customer
subscription or even buying a new entrant that has
forged its own direct connection with consumers, such
as Unilever purchasing Dollar Shave Club.
Source: PwC, Total Retail 2017
How has shopping with Amazon infuenced your shopping behavior
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