Better use of data accelerates success
Like many industries, retail is rapidly evolving as it capitalizes on the disruption digitalization has brought to the market. Whether a new entrant that has rapidly scaled, an established enterprise adapting to the new order, or a local stalwart using digital technologies to expand internationally, there are significant growth opportunities to be had. This is reflected in the results from our Data Literacy Index, where 94 percent of respondents from commercial industries (retail and wholesale) were confident both their industry and business were going in the right direction.
That might seem at odds with the retail landscape at a local level, with the acceleration of store closures in malls and on high streets. But according to
Deloitte’s Global Powers of Retailing 2019, international retail is on the up, with
revenue increasing for 83 percent of the world’s 250 largest retailers.