According to the report analysis, ‘Global Retail 2018: Issues And Trends’ suggests that some of the major companies which are currently functioning in this market globally in a very efficient manner includes 7Fresh, Aldi Group, Alibaba, Amazon.com Inc, Apple Auchan, Bing Box, BonTon, Carrefour SA, Costco Wholesale Corp, CVS Health Corp, Daiso, Donki, Eataly, Ebay, FarFetch, Flipkart Online Services Pvt Ltd, Flying Tiger, Future Group, GOME Electrical Appliances Ltd, Hema, House of Fraser, Hudson’s Bay, IKEA, ITC Group, JD.com Inc, Karstadt, Kohl’s, Lowe’s Companies, Inc., Macy’s, Nespresso, Nordstrom, Normal, President Chain Store Corp, Project Anne, Reliance Industries Limited, Saks, Schwarz Beteiligungs GmbH, Sears, Selfridges, Seven & I Holdings Co Ltd, SK Planet, Suning Commerce Group Co Ltd, Target Corporation, Ted Baker, Tesco Plc, The Kroger Company, ThreadUp, Vipshop Holdings Ltd, Walgreens Boots Alliance, Inc., Wal-Mart Stores Inc, White Company, Yonghui Superstores Co Ltd, Zalando, Zara and others.
The development in the technology of e-commerce seeks the retailers to understand their share in the market and come to know more about the consumer spending, and how their consumers search, shop and buy. In the recent trend, the leading players are benefitted of their physical spaces and emergence of business whereas, development in the economy leads their businesses through online franchises. Whereas, the western retailers are adapting and changing their businesses and new entrants are expanding beyond their core, online businesses and partnering with physical retailers to adapt to changing consumer demand and lifestyles. The platform of retailing is taking over from the traditional retail model as both online and offline retailers utilize technology and data to understand consumer shopping behavior in both the physical and virtual environment.
The retailers which are successful in global retail market will continuously find ways to expand their relationship with their customers. For targeting more customers globally the retailers need to leverage technologies to better understand the customers and to make the distribution channel more effective. Hence, technology will continue to play a significant role in retailing. Moreover, the smart retailers with the help of upgraded technology can collect the data and analyze consumer preferences and track the inventory. Therefore, the retail market is expected to grow globally even more in the coming years over the decades with the development in the technology and through traditional advertising.
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Ankur gupta, head marketing & communications