Retailing in Kenya maintains strong growth in Positive economic growth, increased foreign investment as well as improved road infrastructure helped boost economic development. In addition, higher disposable incomes among the Kenyan middle class, continued modern retailing expansion by manufacturers and increased investment by leading foreign retailer players helped drive growth in Informal sales remain relevant in Kenya The informal marketplace and sales continued to thrive in Kenya amid development of modern grocery retailers. The existence of a large low-income and middle class consumer group continued to spur its development, largely servicing this consumer base, who tend to be very price sensitive.
A tough year for retail is proving to be a challenging year and the pressure is mounting on retailers. Consumer confidence has risen but growth in spending has slowed.
Inflation has fallen as predicted, but so has wage growth, meaning that there has been no easing of pressure on consumers. In the first 3 months ofwinter storms brought disruption to the UK retail market.
Snow and freezing temperatures hit footfall in shopping locations and disrupted supply chains leading to empty shelves and closed stores. The weather improved in the second quarter, which combined with a World Cup and a Royal Wedding brought a much needed boost to UK retail.
Supermarkets benefited from increased sales of food and drink as consumers fired up their BBQs and celebrated the arrival of summer. Discounters are taking their share in grocery and non-food, however they are not immune to the troubles on the high street with the pound shop sector looking increasingly overstretched.
This represents an acceleration in the rate of store closures with almost as many in the first half of as in the whole of Whilst there has been much media coverage on store Modern trends in retailing and job losses in retail, it is important to recognise that these stores are not closing simply because of trading this year.
Years of rising costs, technological disruption and changing consumer behaviour has led to a tipping point that has forced the UK high street to undergo considerable structural change.
Success stories can be found in every sector and the future outlook is promising with evidence of reinvention and investment.
Retail will survive and it will be a stronger sector as a result of this evolution. There will be fewer shops in the future but this does not mean the store is dead, it just means that the role of the store is changing.
There are numerous examples of innovation happening within the store: Looking ahead, retail businesses will need to keep a close eye on the consumer. Our Consumer Tracker sees an underlying resilience in consumer confidence which bodes well.
Retailers may have to consider absorbing costs in the short-term to avoid instore price rises outstripping average wage growth. We expect to see retailers continue to make bold strategic decisions in an attempt to keep customers on side and maximise profitability. Retail in — three themes and your To Do list: Reimagine the store - The store has a great future but it will be different to its past.
Be more than a store — Retailers need to ensure that their stores remain relevant and consumers want to keep coming back to them. Experience is more important than ever, and stores need to be more than just places to transact.
Put digital in your physical — Retailers are realising that the biggest impact that digital can have on their business is instore. Some of the most innovative and compelling stores make digital a core part of the physical experience. Sell online instore — Online retailers are turning to stores to help them grow their businesses and help service their customers.
But these are very different stores, ones that look to replicate the online experience in the offline world. Experiment with experience - The best way to innovate your business is to experiment.
Shop in magical reality — Augmented Reality AR and Virtual Reality VR are set to transform the retail experience both online and offline, often connecting the two with more immersive experiences.
Get personal with AI — Artificial intelligence AI allows retailers to personalise the shopping and products experience and to do so at scale, utilising large amounts of data.
Design for the eye — Visual search is changing the way that consumers shop for products, with more and more consumer journeys starting with an image or a photograph.
Transform your business - Your customers, competition and culture are always changing. Try, try, try before you buy — We are increasingly seeing payment postponed, first through the checkout-less store and now through checkout-less online.
In the competition for the millennial customer, we will see the growth of try before you buy services. Answer the direct question — Everyone wants to be a retailer. New technologies and platforms are already enabling brands to go direct to consumers.
Brands are targeting individual consumers with offers and experiences and retailers need to respond by intensifying their focus on their consumers.Market research on the retailing industry. Our reports feature a wealth of standardised and cross-comparable statistics including total market sizes, market share and brand share data, distribution and industry trends.
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Overview. Discover the latest market trends and uncover sources of future market growth for the Retailing industry in Kenya with research from Euromonitor's team of in-country analysts.
The New Science of Retailing: How Analytics are Transforming the Supply Chain and Improving Performance - Kindle edition by Marshall Fisher, Ananth Raman. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading The New Science of Retailing: How Analytics are Transforming the Supply Chain and .
Distribution plans need to be prepared for the long run, combining the following main areas: company profile, portfolio structure and price positioning, go-to-market policy, trade and retail marketing, e-commerce and global retail management.
Article Review #4: Trends in Non-store Retailing Companies in the Non-store Retailing business sell retail products through methods other than a physical store front. This type of retail includes online auctions, catalog/mail order retailers, temporary stands, door-to-door sales, flea markets and in-home parties.