PwC’s Total Retail 2016 - South African Edition
PwC’s Total Retail 2016 report reveals a global consumer digital revolution as consumers push the boundaries of online shopping. The global survey was of nearly 23 000 online shoppers in 25 countries of which about 1000 were from South Africa.
The results of our Total Retail survey, together with additional PwC analysis and third party research, have uncovered these eight insights of the next retail revolution:
- To understand future global shopping behaviour, look to China.
Our historical data shows that what China was doing several years ago, today’s consumers across the globe are doing.
- We may live in the age of value, but price is still king.
Years of slow global economic growth have resulted in a value dynamic, and affordability is important in every income bracket, in virtually every country, across every age group.
- Store traffic doesn’t matter as much as overall customer conversion across channels.
Customers are voting with their feet as they shop more online, and for multi-channel retailers that means the need for an increasingly focused, curated and engaging brick-and-mortar store experience that creates maximum conversion - no matter what channel ultimately records the purchase.
- Retail talent (finally) matters.
Ever-more sophisticated customers want employees who can enhance the brick and mortar store experience: associates with the product knowledge, technology knowhow and people skills.