Hitwise and Retail Economics have partnered to bring the latest retail trends and consumer insights for the UK. Through a series of videos, we summarise the key challenges and opportunities facing retail categories and highlight brands and retailers that are outperforming their peers today.
In the following videos, we look the Consumer Electronics category, where already two-thirds of sales occur online. So, what can retailers and brands do to further grow their online presence and sales?
How are electronics consumers changing?
In the next 10 years, half of the population will be Gen Zs or Millennials. The £22 billion electronics industry needs to adapt to support their needs.
Richard Lim, CEO at Retail Economics, talks us through some of these macro challenges and opportunities.
How is Amazon taking over?
Amazon reaches over 80% of the online population. In comparison, top electronics retailers reach just 25%. However, Amazon isn’t dominating in every avenue and every product – there are still opportunities for electronics retailers to leverage and compete for higher-ticket items.
Lisa Luu, Global Head of Insights at Hitwise, discusses Amazon’s impact and highlights untapped opportunities for the industry.
What are the key digital KPIs for retailers in 2020?
Brands and retailers need to anticipate future threats and opportunities to remain competitive next year. With new technologies and retail models arising, Giles Longhurst, Managing Director at Hitwise, takes us through his top three trends heading into 2020:
- Online vs. Physical Stores – is it “vs.” or “and”?
- Adoption of drop shipping and what it means for brands
- The rollout of 5G and its impact on mobile conversions
About the partnership
Hitwise and Retail Economics are combining their expertise in economic modelling and retail forecasting with the vast data sets and online behavioural analytics at Hitwise. Through co-published industry reports and thought leadership content, this partnership will provide macro and micro-level, timely insights to the retail industry.
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