Retail Market Research
The number of high-income households is growing globally, creating a lucrative retail market industry environment for luxury products and services.
Consumer confidence in this income group is as high as it’s been in years. This is great news for upscale retailers. Unfortunately, beyond these top-earners, rising income disparities have continued to affect the middle-class in developing nations where only modest income gains have been recorded.
Technological advancements continue to spur an ongoing retail revolution.
- Social Media and Mobile Phones remain crucial sales generating tools,
- Proximity Marketing and In-Store Beacons that interact with shopper’s smartphones continue to expand the boundaries of company/customer communications.
- AR (Augmented Reality) for virtual fitting rooms, the exciting potential of 3D printing,
- RFID (radio frequency I.D. devices) will all see increased popularity in the retail market industry.
- Mobile Technology will expand in importance as it is employed for order fulfillment, payments, and loyalty-building programs.
- Mobile Wallets will become the rule of the day, negating the need for cash exchanges and card swiping.
- Omnichannel click-and-collect purchasing will also continue to be an increasingly popular and successful sales generator.
Market Research Uncovers Insights
Research uncovers answers to some of the most pressing business questions. Retailers large and small continue to be concerned with cybersecurity hacking and fraud perpetration schemes which erode consumer confidence and cost organizations millions of dollars.
Customers increasingly want their shopping experience to not only be pleasant, but safe. It’s also likely that e-commerce sites will continue to expand into more brick and mortar stores as most retail sales, perhaps surprisingly, are still happening offline. The most successful at this integration will be those who best fuse their online and in-store experiences for their customers.
Fluctuating global economies, geo-political realities, even the weather, can positively or adversely affect the retail market industry on an international scale. It’s a challenging endeavor for any retailer, large or small, to adapt and succeed as times and events unfold.
Our Retail Market Research Solutions
SIS International Research has the Market Research expertise to make your retail projects and operations thrive. Our consumer Focus Groups, data gathering expertise, competitive intelligence solutions, market analysis, and unparalleled secondary research capabilities all come together to provide you with the best opportunity to excel, internationally, domestically, regionally, and locally.
We conduct:
- Focus Groups
- Customer Interviews
- Online Communities
- Price Checks
- Store Audits
- Competitive Intelligence
- Market Opportunity, Entry & Sizing Assessments
For over 40+ years, we’ve helped retail firms pinpoint their strengths and weaknesses, analyze and perfect their products, understand their customers and their competition, and develop winning retail strategies. We’ve witnessed the evolution of exciting new technologies and we know the best ways to help you put these new innovations to work for you.
At SIS, we know you believe in the products and services you have to offer. Like you, we believe that our team of proven professionals and our long-standing record of helping companies do better business, make us your best choice going forward. Big or small, let us help you succeed, in your neighborhood and around the world.
Contact us for your next Market Research and Strategy Consulting Project.
- Email direct: [email protected]
- Contact one of our global offices