Here today, gone tomorrow?

Six trends impacting the fate of retailers

Despite record-high inflation, tightening labor markets and ongoing uncertainty, retailers cannot afford to hold back on innovation. They must continue to transform, invest, and innovate to remain competitive and create their future or risk falling behind.

Current challenges and opportunities for retailers range from pricing to labor, logistics, technology, and sustainability. To keep moving forward, retailers will need to make strategic and operational adjustments as the economic environment unfolds.

After surveying 100 retail executives on the state of the industry, we’ve identified six key trends that we believe will continue to drive the industry forward ¹.

Six trends impacting the state of retailers

1. Going back to the future

While the pandemic accelerated online retail to reach new heights, shoppers are returning to stores with great expectations.

Reasons for foot traffic increase in brick and mortar

2. Enabling omnichannel with BOPIS

Retailers are considering restructuring opportunities within physical locations to enable better fulfillment and create a true omnichannel experiences.

BOPIS forecast growth, by number of stores

3. Overcoming supply chain struggles

As supply chain challenges persist, retailers are turning to new, short-to-medium term solutions to overcome bottlenecks.

4. Managing in a tight labor market

In response to tight labor markets, retailers are increasing pay and adding benefits and incentives while turning to automation and new technologies.

Initiatives to overcome labor challenges

5. Experimenting with metaverse opportunities

The metaverse represents new worlds of possibilities for retailers, allowing them to experiment, innovate and discover new growth potential.

Ways to leverage metaverse for retail companies

6. ESG: Embracing progress with purpose

As sustainability increases in importance, retailers are embedding ESG principles across the enterprise to achieve progress with purpose.

Ways companies are addressing ESG challenges