Chief Global Economist Ira Kalish will explore the economic factors weighing on the 2022 economy, how these influences are reshaping consumers’ shopping behavior, and what lies ahead for retailers in an altered world. Ira will share preview highlights from the 25th edition of Global Powers of Retailing, which looks at the 250 largest retailers around the world and how leading retailers successfully pivoted during the pandemic.
The past 18 months has accelerated changes in how consumers shop for groceries and what they expect in terms of ease, choice and speed of delivery. With this new reality, building enduring relationships that transcend the transaction and drive long-term loyalty is a top priority for Vivek Sankaran, who heads the nation’s second-largest grocer. This fireside chat will delve more deeply into the staying power of pandemic-driven behavior changes among consumers and how Albertsons is leveraging the power of technology to better serve them.
The pivot to e-commerce sparked by the pandemic accelerated sales: it also brought an ugly reoccurring issue to the forefront: the proliferation of gray-market goods. In 2020, Customs Border Protection seized "26,503 shipments containing goods that violated intellectual property rights. The total estimated value of the seized goods, had they been genuine, was nearly $1.3 billion." Why are gray market goods the bane of brands and retailers? Customer distrust, the erosion of brand identity and integrity, and the loss of sales and margins - are just a few negative effects.