LONDON, Sept. 18, 2017 /PRNewswire/ -- Planet Retail RNG, an independent research and advisory firm for consumer goods retailers and brands, today released its first annual Global STEIP report that details the drivers of change impacting the Future Retail Landscape, and defines winning strategies to provide its clients the competitive advantage in understanding where to play and how to win.
The STEIP approach is rooted in a fundamental bottom-up assessment of the variables that could impact the future of retail. Using Planet Retail RNG's proprietary global data, industry knowledge and analyst insights, the report identifies and analyses the five key drivers of change for businesses to prepare for future disruptions:
- Society: the drivers altering consumer behavior and preferences
- Technology: the drivers enabling new processes and possibilities
- Economy: the drivers impacting the health of global retail
- Industry: the drivers predicting the competitive environment
- Policy: the wildcards that could disrupt everything
"The question we get asked most by our clients is, 'What does our future world look like?'," said Xian Wang, Global Content Director at Planet Retail RNG. "Our annual STEIP report provides businesses with the intelligence to make effective decisions about which markets to invest in, how best to deploy resources and talent, and how, when and where to engage in collaboration and innovation to capitalise on growth opportunities."
The report outlines significant future winning requirements for retailers and brands, providing leaders with the expertise, competitive advantage and confidence to positively shape the future of retail and their own success. It is essential reading for anyone looking to future-proof their business by prioritising their growth investments.
"After nearly a decade of instability, the global economic outlook is more positive than in previous years, with growing consumer spending, rising income and improving infrastructure," explains Boris Planer, Global Chief Economist at Planet Retail RNG. "Developed markets must be won today because of their share of global spending, but they don't offer the growth available in the rest of the world. Asia, for example, will become the largest region for consumer spending in 2019 but regional complexities will make scalable retail operations extremely challenging, and emerging middle classes remain in danger of falling back into the informal sector in the event of local economic downturns."
Future trend predictions from this first edition include:
- eCommerce is expected to gain critical mass
- Supply chains evolve from cost centres into strategic advantages
- Consumer interactions are transformed by demand and technologies
- Stores will modify their value proposition and merchandise
"Consumer goods and retail businesses face a variety of challenges today," explains Wang. "Different rates of economic growth or contraction, accelerated digital disruption, evolving demographics and changes in customer behavior, and mounting pressure on industry margins. We are excited to offer this in-depth and tangible analysis that will enable retailers and brands to transform these emerging challenges into opportunities for growth and make their businesses more resilient now and as the future retail landscape evolves."
For more information about Planet Retail RNG's Global STEIP report, visit: https://lp.planetretail.net/pr-global-steip-launch.html
About Planet Retail RNG
Planet Retail RNG is a global intelligence and advisory business exclusively focused on retail. We track over 2,000 leading retailers and have built a proprietary and globally comparable macro-economic model, with over 4.5 million data points. Through applying our STEIP methodology, we identify winning strategies that give our clients competitive advantage in understanding where to play and how to win. 18 of the top 20 global retailers and hundreds of global brands work with us to identify and drive the future of retail and consumer purchase.
For more information, visit www.planetretailnetgroup.com
For more media inquiries, please contact:
Jane Lucken, Global Head of Marketing, Planet Retail RNG:
44 (0) 203 033 4211
Pola Hallquist, Apothecary Communications:
(866) 213-9210 ext. 801
SOURCE Planet Retail RNG