Connected Consumer in Retail and Apparel - Thematic Research

Connected Consumer in Retail and Apparel - Thematic Research

Summary

In a hyperconnected, technology-enabled society, consumers seamlessly integrate the use of multiple technologies into their lives and buying behavior. Consumers are increasingly informed about all aspects of products they buy and consume, through both active and passive use of technologies, such as conducting research, using review sites, viewing user generated content, seeing influencer campaigns and adverts, and listening to podcasts. This means that consumers cannot be steered towards purchase by marketing and advertising solely conducted by the retailer itself. Retailers must ensure that the experience consumers have at every point they connect with the retailer is good, leads them to make purchases.

Key Highlights

The connected consumer has been created as a direct result of other themes within the retail and apparel sectors. For instance the Internet of Things (IoT) has transformed the way that retailers and consumers interact. It has allowed retailers to track previously untrackable behaviors.

The key to successfully capitalizing on connected consumers is how retailers collect, manage, analyze and utilize data to connect with both existing and new customers. The more granular the data gathered on a consumer’s preferences, the better the retailer can personalize the touchpoints they have with that consumer throughout their shopping journey.

As the connected consumer is on the rise, it is paramout that consumers trust retailers. This trust is built through transparency at every connection point the consumer has in their experience with the retailer. There can be two sides to this, as trust and transparency do not necessarily have to go hand in hand when it comes to the connected consumer.

Scope

GlobalData provides detailed insight into the theme of connected consumer, specifically focusing on its impact on the Retail and Apparel sectors. The report provides an overview of connected consumer and its components, the leading companies, the timeline of developments in connected consumer, and related industry analysis. The report also details the relevant trends across technology, marcoeconomic, retail, and regulatory trends.

Reasons to Buy

Themes are disruptive, so it's easy to be blindsided by industry outsiders who invade your sector. Understanding the themes ecosystem will get you ahead of the curve.

Understand the important themes in 2024 and beyond, allowing you to grasp a wider view of changes in consumer behaviour and how it will impact your markets.

Explore how emerging themes in retail are allowing industry leaders to evolve, so you can better position yourself for long-term success.

An easy-to-use framework for tracking themes across all companies in all sectors.

Companies who invest in the right themes become success stories; those who miss the big themes end up as failures.