零售与消费者杂志第10卷

CONTENTSIntroductionDemandInflation Triggers Shift in Global Consumer SpendingGen Z — The Generation Changing EverythingThe Return of Chinese Consumers AbroadEcosystemThe Surge of Social Commerce in China — From Big 2 to Big 58 Lessons to Master Personalization in the Retail IndustryMiddle East Retailers are Fostering a Wave of InnovationInnovationTech Solutions for Retail Merchandising SuccessStrategies to Help Solve the Private Label Dilemma in RetailSolutions for Dealing with Inventory Turnover ChallengesStreamlining your Supply Chain with Warehouse AutomationSustainabilityFood Retailers Need to Act Now for a Net-Zero FutureDelivery Decarbonization PathwayConsumer and Home Electronics — Going Full Circle4 Ways to Align Corporate Interests to Scale Climate ActionLeadershipSecrets of Effective Leadership in Times of CrisisUnderstanding AI's Impact on Job and Industry TransformationTransform Retail Employees into Powerful Community Builders 3162227303741445157616771747782 49 WELCOMETo the 10theditionof the Oliver WymanRetail And Consumer Journal.After emerging from the COVID-19 pandemic, the retail and consumer sector was confrontedwith a new set of major challenges in 2022 and 2023. These challenges include the fallout frominflation and cost-of-living crises in the West, as well as the demand stagnation in manyparts of Asia. These factors put pressure on volumes, margins, inventory levels, and costs.Despite these current challenges, the sector continues to face major long-term shifts.Technological advancements, particularly the rapid rise of generative artificial intelligenceare reshaping consumer demand and how companies operate. The emergence of Gen Zand Gen Alpha is introducing a new dynamic to consumerism and talent management.Environmental concerns are also intensifying, leading to the emergence of coalitioninitiatives and new regulations in the retail and consumer sector. Additionally, recentgeopolitical developments have further exposed the vulnerabilities of global supply chains.While these themes can appear daunting, we remain convinced that there are ampleopportunities within every challenge. Those who continue to anticipate, innovate, andtransform will thrive more than ever.This tsunami of change, and how to size the opportunity that comes with it, is the themeof this edition of the Retail And Consumer Journal. We explore the various developments,examine how companies are responding to them, and provide our insights on how toapproach these challenges both now and in the future. We hope the shared perspectiveswill help you stay ahead of the curve and make the most of new opportunities that arise.We hope you enjoy the reading this edition of the journal.Sirko SiemssenPartner and Global Head of Retailand Consumer GoodsRainer MünchPartner and Head of Retail andConsumer Goods, EuropeFrédéric Thomas-DupuisPartner and Head of Retail andConsumer Goods, AmericasPedro YipPartner and Head of Retail andConsumer Goods, Asia Pacific INFLATION TRIGGERSSHIFT IN GLOBALCONSUMER SPENDINGHow consumers are adjusting their spending behaviorJens von WedelSarah BeulSarah Adelfang © Oliver WymanInflation has shown signs of easing in recent months, yet consumers worldwide remainapprehensive about their spending power. A June 2023 Oliver Wyman survey of 10,000consumers in nine countries illustrates that people across the globe still have significantconcerns about their ability to pay for essential goods and services, despite a slightimprovement in sentiment compared with February this year.These concerns are widespread in Germany, the UK, France, and the US, with aroundthree–quarters of consumers expressing them. The situation is even more severe in Brazil,Mexico, and the United Arab Emirates (UAE), where that figure is over 90%. As we detailbelow, consumers adjust their purchasing behavior accordingly.SHOPPING BEHAVIOR IS CHANGING WORLDWIDEThe fear of inflation is evident in consumers'spending behavior on groceries and essentialgoods. Across all countries, more than 80% of survey respondents stated that they haveadjusted their buying behavior, including over 40% who have reduced how much they buy.In addition, consumers are particularly on the lookout for cheaper alternatives — more thanhalf of those surveyed reported opting for lower–priced groceries, such as private labelgoods. The UK stands out in this regard, with two–thirds of consumers indicating they aresubstituting their regular purchases with cheaper alternatives. Increased price sensitivityhas also driven consumers globally to seek cheaper options online (44% of respondents)and actively use coupons (41%) to save money on purchases.In the Middle East, consumers have adopted an approach to saving money that is not yetas widely common in Europe: 43% of respondents in the UAE reported utilizing bulk ordersto reduce prices. This reflects a shopping behavior that we mainly associate with NorthAmerica, where consumers have long been accustomed to purchasing in lar