2022

Bigger, better
and bolder retail
Unprecedented global challenges during the last
year were the impetus for a bigger, better and
bolder evolution of retail. In this year’s Retail
Trends, we reflect on the trends driving the new
frontier of retail and how retailers are responding
by resetting their businesses responsibly.

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Retail Trends 2022

01 All-in 02 Social Point 03 What’s in 04 The Greater

Commerce of Sale $tore Good
A new age of digital retail has Social platforms’ one-stop The store is being redesigned Retailers have established
arrived—and all buyers and shop for real-time interaction, to profitably meet the needs purpose-driven initiatives
sellers are invited. entertainment, and inspiration of the merged online and across their value chains to
is blurring the lines between offline consumer journey. drive transparent, ethical, and
app user and retail consumer. inclusive business practices.

05 Resale 06 Supply (Chain 07 Silicon Valley 08 The Elevated

Rescaled Reaction) shOp Model Employee
Resale is fashion, not fad—its Industry turbulence has Big tech set the bar for user New shopping experiences
growth has inspired a slew of challenged global supply chains, experience—to deliver have heightened expectations
new entrants and innovations. urging retailers to double down experiences of the same caliber, of store associates, whose
on analytics, invest in automation, retailers are investing in people, individual career development
and vertically integrate. processes and technology. has become critical.

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TREND 01

All-in

T R E N D I N G
Commerce UNIVERSAL
ACCESS

A new age of digital retail has arrived— COMMERCE

N O W
and all are invited. As barriers to entry WITHOUT
BORDERS
continue to diminish—both operationally
and geographically—open access
platforms and cross-border commerce FROM MALL TO
are enabling anyone to build or shop a MARKETPLACE
digital storefront, from anywhere.

Increasing buyer and seller accessibility

has also supported digital retail’s share
of the overall market. By 2025, global
ecommerce sales are forecasted to be
24.5% of total retail sales.1

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TREND 02

Social

T R E N D I N G
Point of Sale #SOCIALMADE
MEBUYIT

2021 was the year of community BRANDED BY

N O W
reconnection. As social media became AUTHENTICITY
the one-stop-shop for real-time
5
interaction, entertaining content, and
LIVESTREAM IN
shopping inspiration, the lines between THE MAINSTREAM
app user and retail consumer blurred.

Social commerce, as a result, has

introduced hyper-personalized end-to-
SWIPE UP TO
end shopping experiences, built on a
CHECKOUT
treasure trove of real-time customer
data. Social platforms like TikTok have
enabled this effort, with relatable
revenue-driving content that is meeting
customers’ demand for authenticity.

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TREND 03

What’s in

T R E N D I N G
$tore NEED-DRIVEN
DISCOVERY

Retailers are thinking outside of the

N O W
INSIDE THE
“box” more than ever before. The BOX
consumer journey has inverted. Now,
90% of product discovery and decision-
OUTSIDE THE
making are completed before consumers BOX
arrive at a store.2

Retailers are also thinking inside the

“box” by tailoring layouts to varied
consumer journeys, such as online
fulfillment, experience or convenience.
As retailers redesign stores, they are
looking to improve customer experience,
but not at the expense of profitability.

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TREND 04

The Greater

T R E N D I N G
Good HOW
IT’S MADE

The events of the past year continue to DIVERSITY

N O W
raise consumers’ awareness of the AT WORK
world in which they live, work, play—and
shop. As many as 88% of US and UK
IN DATA
consumers are more receptive to a brand WE TRUST
if they know its values.3 The need to build
trust with consumers has amplified
Environmental, Social, and Governance
(ESG) conversations.

Resulting initiatives have included

environmentally-conscious material
sourcing, socially-minded product
inclusivity, and a governance model that
prioritizes transparency.

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TREND 05

Resale

T R E N D I N G
Rescaled NO PLACE LIKE
(HOME)GROWN

Resale is not a fad. It is increasingly

RESALE-AS-A

N O W
popular and relevant across retail SERVICE
sectors. Secondhand apparel, for
example, is growing 11 times faster than
ESG
traditional retail.4 The business model’s OBJECTIVES
rise is partially attributable to consumer VS. REALITY
affinities for store treasure hunting,
individualism, and sustainable products.

Immense market opportunity in resale

has invited a stream of entrants and
inspired an emergence of in-house resale
offerings and resale-as-a-service
platforms. But as it matures, competition
for customer acquisition stiffens.

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TREND 06

Supply (Chain

T R E N D I N G
Reaction) RIGHT PLACE,
RIGHT TIME

Recent industry turbulence has GOING THE

N O W
challenged the global supply chain EXTRA (LAST)
MILE
networks that were built for profitability
and efficiency. Two-thirds of global THE VERTICALLY-
shippers believe supply chains have INTEGRATED
RETAILER
become too global and must shift
towards more regional and local
ecosystems, and 65% of US retailers are
establishing or expanding domestic
manufacturing to maintain greater
control and certainty.5

As new entrants continue to fuel the

fulfillment arms race, retailers are
doubling down on analytics, automation,
and vertical integration.

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TREND 07

Silicon Valley

T R E N D I N G
ShOp Model AUTOMATION
TO THE RESCUE

Big tech has set the bar for user

USER

N O W
experience. Yet, few retailers provide the CENTRICITY
same caliber of experience that digitally
savvy shoppers now expect. Almost three-
TEST, LEARN,
quarters (73%) of US brands lack the REPEAT
capabilities to deliver a holistic, multi-
channel shopping journey.6

Some are doubling down on automation

and artificial intelligence, data-driven
decision-making, and test-and-learn
culture. Inspired by big tech, they are
introducing customer KPI and incentive
alignment, cross-functional product
management teams, and new C-suite roles.

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TREND 08

The Elevated

T R E N D I N G
Employee CAREER
GOALS

New shopping experiences have EMPLOYEE

N O W
heightened expectations of the store ROLE-OVER

associates who deliver them. As “omni

associates” who bridge the online-offline PEOPLE LEADERS
divide, they also provide expertise, IN TRAINING

deliver experience, and efficiently fulfill

online orders.

To remain competitive in today’s labor

market, companies are investing in
talent development to support longer-
term, more rewarding careers in retail.
More than 50% of US companies are
planning to upgrade their training
programs over the next two years, with
an emphasis on soft skills and culture.

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Want to Contacts

learn more? Brooks Kitchel

Senior Managing Director
& Global Retail Strategy Lead
[email protected]

There’s more to Retail Trends.

Jill Standish
Contact us to learn more about these trends across Senior Managing Director
the sub-industries, regions, generations, and key & Global Retail Lead
players that are inspiring Retail 2022. [email protected]

Copyright © 2021 Accenture. All rights reserved. 12

References About Accenture
1 eCommerce B2B Industry Statistics for 2021 (insiderintelligence.com) Accenture is a global professional services company with
leading capabilities in digital, cloud and security. Combining
2 Virtual Clienteling: How Luxury Retailers are Fostering Life-Long Customers With unmatched experience and specialized skills across more than
Personalized Service - Heyday 40 industries, we offer Strategy and Consulting, Interactive,
36 Insights From Iterable's 2021 Consumer Psychology Poll - Iterable Technology and Operations services—all powered by the
world’s largest network of Advanced Technology and Intelligent
4 For Brands, Is Resale Actually Worth It - BoF Operations centers. Our 624,000 people deliver on the
promise of technology and human ingenuity every day, serving
5 US Retailers Prioritize Local Sourcing While Consumers Demand Faster Delivery:
clients in more than 120 countries. We embrace the power of
Coresight Research x Blue Yonder Retail Insights
change to create value and shared success for our clients,
6 Bolstering Retail Execution in the 21st Century | Research | Consumer Goods people, shareholders, partners and communities.
Technology Visit us at www.accenture.com

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