2018年假日购物季零售业回顾报告（英文版）_16页_490kb

BAIN RETAIL HOLIDAY NEWSLETTER 2019 Summary

Core Content

The 2019 BAIN Retail Holiday Newsletter provides an in-depth analysis of the 2018 holiday season and outlines key technology trends that are expected to shape the retail industry in the coming years. The report highlights that while the overall retail sales growth for the 2018 holiday season was strong (5.0% to 5.2%), the gap between winners and losers in the industry is widening. The report also discusses the evolving retail landscape, the importance of customer experience, and the strategic need for innovation.

Main Points

• 2018 Holiday Sales Performance:

  • Overall retail sales grew by 5.0% to 5.2%, surpassing the 10-year average of 3.9%.
  • In-store sales accounted for over 80% of total sales and more than 70% of sales growth.
  • E-commerce sales grew by 14%, but online conversion rates peaked on December 18, not Cyber Monday.
  • E-commerce basket sizes declined by 2% despite an increase in the number of transactions.
  • Department stores had the highest return rates in December 2018, twice the sample average.

• Technology Trends for 2019:

  • Consumer-Centric Technologies:
    • Platforms that allow retailers to meet customers where they are, such as shoppable Instagram posts and videos.
    • Alternative shopping methods, including voice shopping (e.g., Amazon Alexa) and image recognition (e.g., Walmart’s text capability).
    • AI-driven hyperpersonalization, such as personalized fashion recommendations and omnichannel experiences.
  • Convenience Technologies:
    • BOPIS (Buy Online, Pick Up In-Store) is gaining popularity, with sales up 47% compared to the previous year.
    • Computer vision is being used in cashierless stores to streamline shopping and capture customer data.
    • Autonomous vehicles are expected to enhance delivery and reduce costs, with examples like Amazon Prime Air and Kroger’s same-day drop-offs.
  • Efficiency Technologies:
    • Robotics are being deployed in stores to automate tasks such as inventory monitoring and restocking.
    • Machine learning is used to optimize product selection, inventory decisions, and promotions.
    • Real-time information systems improve fulfillment and responsiveness to customer trends.

Key Insights

• Customer Experience is King: Retailers that focus on improving the customer experience, particularly through convenience and personalization, are more likely to succeed.
• Innovation is Critical: Retailers must adopt new technologies and Agile methodologies to stay competitive and meet rising consumer expectations.
• Cost Transformation is Necessary: With limited operating margins, retailers are exploring zero-based budgeting and outsourcing non-core capabilities to reduce costs and improve efficiency.
• Ecosystems are Changing the Game: Large platforms like Amazon and Alibaba are building extensive ecosystems that offer services beyond traditional retail, potentially threatening smaller retailers.

Strategic Recommendations

• Develop an Innovation Culture: Retailers should foster a culture of rapid experimentation and learning, similar to Amazon's approach.
• Invest in Technology: Companies must prioritize investing in technologies that enhance customer experience, such as AI, robotics, and real-time data systems.
• Optimize Cost Structures: Implementing zero-based budgeting and outsourcing can help retailers reduce costs and improve operational efficiency.
• Leverage Hidden Assets: Retailers with unique capabilities should consider packaging and selling these services to other companies to generate new revenue streams.

Conclusion

As the retail industry continues to evolve, the winners will be those that can adapt to changing consumer behaviors and leverage technology to deliver superior experiences. The report emphasizes the need for a clear strategy, continuous innovation, and a focus on customer-centric operations to thrive in 2019 and beyond.

Appendix Highlights

• Definitions of Retail Sales Measures:

  • Omnichannel: Includes both in-store and e-commerce sales.
  • Traditional In-Store: Excludes e-commerce sales and online-only retailers.
  • GAFO (General Merchandise, Apparel, Furniture, and Other Sales): Includes all in-store sales.
  • GAFS (Goods Available for Sale): Includes all goods available for sale, both in-store and online.

• Research Partners:

  • Earnest Research: Provides market and consumer insights using transaction data.
  • Jumpshot: Offers real-time analytics on online user behavior.

• References:

  • The report cites various studies and press releases to support its findings, including those from CollabNet VersionOne, Bosch, and other industry leaders.