Market Overview

Empowered Consumers Will Re-Shape the Global Retailing Industry

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Global market research company Euromonitor International presented a new
analysis, "Retail in the Age of the Empowered Consumer," at the Latam
Retail Show, the leading retail event in Latin America.

The new research identifies a new consumer type who will change the
future of the global retail landscape – armed with technology, the
Empowered Consumer reads and writes product or service reviews, compares
prices online, and interacts with companies via social media. 26 percent
of consumers worldwide are Empowered Consumers. Of these, 52 percent are
under the age of 35. Their young age indicates that their behaviors will
continue as they age and will influence their children, the next
generation of consumers.

"Convenience is important in Empowered Consumers' shopping experience.
They prefer internet-enabled devices to make their purchase, as 74
percent of them make their purchases through smartphones versus 44
percent of non-Empowered Consumers," comments Michelle Grant, head of
retailing at Euromonitor International. "They enjoy the ability to save
time and order at anytime from anywhere. They also expect the same
shopping experience in whichever way they choose to purchase, thus
retailers must embrace omnichannel retailing to meet these needs."

Empowered Consumers are five times more likely to write a product or
service review than the non-Empowered Consumers, so companies that
cannot meet the Empowered Consumer's expectations may suffer
consequences even after purchase completion.

"Brands and retailers no longer control the information available about
their products. Empowered Consumers can be your best customers and brand
ambassadors, or they can be your worst nightmare, spreading negativity
about your company," concludes Grant.

To download the presentation, please visit: http://bit.ly/emi_empoweredconsumers

ABOUT EUROMONITOR INTERNATIONAL

Euromonitor
International
is the world's leading provider for global business
intelligence and strategic market analysis. We have more than 40 years
of experience publishing international market reports, business
reference books and online databases on consumer markets.

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