Retail

Retail has become cybercrime’s favourite playground. From Target’s catastrophic 2013 breach to British Airways’ record GDPR fine, the past decade has been a brutal education in digital vulnerability. Yet, as this April’s M&S incident proves, many still haven’t learned their lesson.

Online retailers frequently use people’s personal information to set targeted, tailored prices for goods and services—from a person's location and demographics, down to their mouse movements on a web page, reveal initial findings from an ongoing surveillance pricing market study.

The 2024 Consumer Returns in the Retail Industry report says returns represent a significant cost to retailers in the United States and there is an urgent need for retailers to adapt and evolve their strategies.

With India poised to become a USD 1.3 trillion retail market by 2025, the opportunities for growth are boundless. Although challenges like rising inflation, supply chain disruptions, and fierce competition could pose hurdles, retailers who remain agile, consumer-centric, and forward-thinking will not only thrive but also shape the future of retail in the country. An insider’s analysis.

The 2024 Retailer Report Card analyses 50 major US and Canadian retailers representing 160 businesses that generate over $4 trillion in annual revenue and hold significant influence over the use of toxic chemicals in their supply chains.

The British Fashion Council (BFC) has come up with a tangible guide to support the fashion industry to push business growth, drive revenue, and provide strategic recommendations for stakeholders in a much changed and increasingly complex environment.

When it comes to circularity, the fashion sector scores high on ‘ambition and strategy’ and ‘goals and targets’, and has made strong progress with its circular ambitions and collaboration initiatives. But there is further potential in establishing new and increasing existing targets, implementing initiatives on a broader scale, and enhancing circular inflows and circular business models, says a KPMG report.

An industry-backed white paper lays out a clear call to the UK government to incentivise sustainability and secure funding for the development of high-impact circular infrastructure, jobs and skills in the country.

UK’s Competition and Markets Authority has promised a crackdown on greenwashing by fashion brands and even warned 17 of them to review their green claims. In doing so, it will help to make sure shoppers looking to buy ‘green’ can trust the claims they see.

E-commerce in India is on an upward trajectory and the trend is expected to continue, with forecasts suggesting that it will comprise nearly 10% of the retail market by mid-2024. Brands that embrace the omni-channel retail approach will be well-positioned to meet consumer expectations, achieve higher levels of customer engagement, and drive long-term success in the competitive retail market.