Retail

Learn about the latest trends and insights happening in the retail industry

Retail shows signs of uplift in 2023

This year marks a turning point for retail within Consumer Technology and Durables.

Retailers have faced a raft of challenges since the pandemic boom of 2020 and 2021 when the sector witnessed record sales. With consumers working, cooking, and seeking entertainment at home, the industry experienced significant shifts. Now, it’s changing again.

As the global slowdown caused by spiraling inflation and the cost-of-living crisis stabilizes, early indicators show an upward shift. Different regions are posting varied economic forecasts, some experiencing increases in consumer confidence, and a slight easing of inflationary pressures. These positive developments lay the foundation for a promising future, signaling the potential for an overall economic upturn.

With dynamic, data-backed strategies and expert insights, retailers can carve growth from the setbacks, leverage the shift to stabilization, and be ahead of the curve on market recovery. Ready to find the solution?

63%

of consumers globally like getting personalized offers from retailers/brands

88%

of consumers agree that seasonal discounts trigger them to make more online purchases

42%

of consumers use “buy” buttons on social media

GfK: A trusted retail data partner since 1934

With a longstanding history, GfK has partnered with retailers to provide a trusted source of comprehensive, unbiased market-level analysis and consumer insight. Regardless of business type, size, and geographical reach, we always ensure retail data is anonymized and protected by the most rigorous standards. As the gold standard in retail, GfK currently works with more than 100,000 partners, tracking more than 10 million SKUs and more than $1.16 trillion in sales. Retailers use GfK to understand and act on changes in their market, brand, and consumers so that they can stay ahead of the competition.

GfK brand architect has been invaluable in providing us with strong consumer insights on how our brand is perceived by the target audience, and how consumer expectations and preferences are developing over periods of time. The insights gained have been very much appreciated across the organization including national and international teams working on brand, marketing, retail and category management. The fact that all results are easy and intuitively to use in the dashboard has been key. This enabled us to quickly draw conclusions across the teams and markets – with GfK on hand to provide consultancy and support where it was needed."

Christoph Frechen

General Manager Global Marketing, Intersport International Corporation (IIC)
gfknewron Consumer has been invaluable in providing us with quarterly updates on changing customer needs and preferences. Currys have now been using this tool for the past year and the insights from the tool have been appreciated across the organization including teams working on ranging, and marketing campaigns; and it’s provided an additional dimension to the POS data.

The fact that the tool is easy to use and intuitive has been key, as it’s enabled us to roll out quickly across the teams – with GfK on hand to provide training support where it was needed."

Amit Shah

Head of Commercial Analytics, Currys
In today’s fast-changing world, each decision must be supported by facts & evidence. GfK is a reliable partner to help us face this journey."

Director of Consumables, Italy and Spain
The data, insight and advice we receive from our long-standing relationship with GfK is core to how our business operates, and to our ongoing success. The intelligence is reliable, and timely - and provides the granularity we need to make meaningful decisions. We put analysis of the trends and latest data at the very heart of our strategy, benchmarking our performance against the market and creating defensive and offensive tactics and action plans. We have a regular dialogue with the experts at GfK who understand our business and provide ideas and guidance that become actions. By working with a partner who understands our business, we have been helped in a very positive way to achieve our goals. I am sure we will continue to push the business forward by working together.”

Stefan Lebrot

CEO, Elon Group
With GfK data, JD has a better understanding toward TCG market with a clearer direction of how business should be.

We can optimize the market knowledge and prepare ourselves for any market opportunities we observed.”

Wisan Sirikul

Head of Corporate Marketing and Human Resources, JD Central
Working with GfK has been instrumental in helping us build our strategy and tactics for growth in the Indonesian mobile telecommunication sector. We use the intelligence to analyze market size, identify growth potential and hone our strategy and tactics - right down to individual city level and product group. The insight has helped us take our business to the next level and crucially, to achieve our revenue target. GfK has helped Erajaya to expand into new technical consumer goods industries such as lifestyle tech and, proving the business benefit of having access to the latest data. We enjoy a strong collaboration with GfK and work closely as one team with one goal."

Hasan Aula

Vice President Director/CEO, Erajaya Group
GFK is like opening a window from PCComponentes into the global market.

With a pinch of intervention from our Business Intelligence Department it allows us to device mid- and long-term strategies, with the business perspective that GFK contributes.

Moreover, it allows us to identify new emerging manufacturers in the channel, a far more complicated endeavour without the data that GFK provides.

Another essential feature is GFK's vision of the future, segmented into categories, which helps us guide the manner in which we face the changes occurring in this ever-dynamic sector.

Also noteworthy is the weekly summary, with relevant news of what takes place in the market.

In short: support, vision and strategy."

Alejandro Gutierrez

Purchase Manager, PC Componentes
It is hard to rely only on our own business vision operating in a highly competitive market. When building our strategy and planning market tactics we rely on GfK reporting to gain a broader perspective of the market trends and in particular industries and channels. We are very satisfied with our long lasting cooperation that contributes to our success."

Marcin Witkowski

Analysis Director, X-KOM
Webshops need up-to-date facts and figures about the Belgian consumers’ behavior to define their strategy. In collaboration with GfK, we map the demand side of the Belgian e-commerce market across twenty established markets segments every quarter and compare it to the offline market. This “BeCommerce Market Monitor” not only allows our members to adapt to a rapidly changing online market, it also gives us more media coverage and a growing share-of-voice.

Thanks to GfK, BeCommerce can position itself as thé Belgian e-commerce expert."

Sofie Geeroms

Managing Director, BeCommerce
We use GfK’s data daily with our colleagues and product managers. The weekly data helps us to make key business decisions with full confidence and agility. With weekly data we are better informed to adjust forecasts and promotions rapidly and to plan for crucial sales periods. It allows us to act based on what feels like live data, capturing the core of our fluid and fastmoving market."

Milan Terechshenko

Chief Commercial Director, Alser
We rely on GfK to provide us with objective data that represents all the markets we operate in. Armed with accurate and up-to-date market share data, we can evaluate our performance against the wider market, and drill down into specific categories, and as well as compare ourselves to the competition using one reliable, independent source. During quarterly conference calls with GfK’s experts, we are able to discuss past and emerging sales trends and understand the ‘why’ behind the ‘what’. This customized intelligence feeds into planning our sales activity so is central to what we do. I believe the combination of data and expertise to interpret it has been an important factor in supporting Kvik’s growth."

Henrik Gade Andersen

Purchase Manager Kvik,
Lead Buyer Ballingslöv International
In a sector characterized by competition and reactivity, having a correct and complete vision about what is happening is crucial in order to draw your strategies in the short and medium term. In this sense, GfK is, without a doubt, that reliable partner that helps you to chart the right path and to narrow down the uncertainties."

Iván Celdrán

CCO

State-of-Report-Retailer-Q3-2023-hero-image

Trend Report

Evolution or REvolution – what retailers can expect in the next 3 years?

GfK’s new State of Tech & Durable Retail report, surveyed nearly 800 retailers in 76 countries, to examines the four areas of growth in which retailers are set to invest: formats, technology, operations and purpose.

Read the report

Webinar

Black Friday 2023 Briefing

Join our webinar on December 14, at 10:00/15:00 CET to get access to GfK data and expert analysis on global Black Friday 2023 sales performance across key markets.

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Retail

Retail shows signs of uplift in 2023

63%

88%

42%

GfK: A trusted retail data partner since 1934