M-Commerce is expected to account for 55 per cent of online sales and 13 per cent of global retail sales in 2021, according to a survey conducted on the future of retail trade by Euromonitor.
The survey emphasized on how the growing demand for convenience will refashion the retail landscape, following socio-economic and demographic trends. As underlined in the survey, urban population is expected to grow by more than 30 per cent by 2030.
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“Consumers continue to seek for and consume products through all possible channels, and retailers are using omni-channel tactics in order to be where consumers are,” explained Michelle Grant, In-charge, Retail Research, Euromonitor International.
Also, the survey highlighted that modern grocery stores, discount stores and other proximity retailers will be among the highest average annual growth rate, having grown more than 5 per cent each year in the last five years. However, only those retailers who will be able to offer service convenience to customers will expand at a fast rate in the next five years.
