www.pwc.com/totalretail

They say they wanta revolution
Total Retail 2016

Online shoppers around theworld are fundamentally
disrupting retail—again.
Will your organization beleft behind?
February 2016

In PwC’s most comprehensive
Total Retail survey to date, we
asked nearly 23,000 online
shoppers around the worldabout issues ranging frommobile shopping to social
media influence toinnovation at retailers. Theiranswers reveal the changing
behaviors that will drive thenext retail revolution.

2 | Total retail 2016

It’s nothing short of a revolution, and the stakes have never been higher for retailers andconsumer goods companies. Our Total Retail survey results, together with 2015 fourthquarter retail results around the world, point to 2016 as a watershed for many of thetrends that have been percolating over the past few years. From the unmistakable desire
to be a member of a specialized retail community to buying more on their mobile phones,
from becoming more reliant on social media to demanding a more service-focused andknowledgeable store employee, global consumers are pushing the boundaries of what
shopping means.
PwC's Global Retail and Consumer practice, in conjunction with PwC's Research to Insight (r2i), administered a
global survey to understand and compare consumer shopping behaviors and the use of different retail channels
across 25 territories: Australia, Belgium, Brazil, Canada, Chile, China/Hong Kong, Denmark, France, Germany,
India, Italy, Japan, Malaysia, Mexico, Middle East, Poland, Russia, Singapore, South Africa, Spain, Switzerland,
Thailand, Turkey, the United Kingdom and the United States.1
5 continents, 25 territories, nearly 23,000 online shoppers surveyed

RussiaCanadaUK
Belgium
FranceSpain

USDenmark
PolandGermany
Switzerland
Italy

Turkey

Japan

China
MexicoMiddle East

India

Hong Kong

ThailandSingapore

MalaysiaBrazilChileSouth Africa

Totals may not add up to 100% due to rounding.

1

Australia

Total retail 2016 | 3

In this report, we
present and discuss
the findings of ourglobal Total Retailsurvey—together
with additional PwC
analysis and thirdparty research—to
uncover these eightinsights of the next
retail revolution.

1. To understand future global
shopping behavior, look to
China. Our historical datashows that what China wasdoing several years ago,
today’s consumers across theglobe are doing.
2. We may live in the age ofvalue—but price is still king.
Years of slow global economic
growth have resulted in a value
dynamic, and affordability
is important in every income
bracket, in virtually every
country, across every age group.
3. Store traffic doesn’t matteras much as overall customer
conversion across channels.
Customers are voting with theirfeet as they shop more online,
and for multi-channel retailers
that means the need for an
increasingly focused, curated
and engaging brick-and-mortar
store experience that createsmaximum conversion—nomatter what channel ultimately
records the purchase.
4. Retail talent (finally) matters.
Ever-more sophisticatedcustomers want employees
who can enhance the brickand-mortar store experience:associates with the productknowledge, technology knowhow, and people skills.

4 | Total retail 2016

5. Mobile devices have turned
the corner as purchasing
tools. Mobile commerce is now
firmly on the march toward
becoming the online shopping
tool of choice.
6. Today’s consumers look tocommunity. A deeper connection
with retailers via customer“communities” is apparent as
consumers pick up on the perksof membership.
7. Social media is the “great
influencer.” Customers are
relying on social media—inaddition to their family’s
opinions, advertising messages,
and media coverage—to makeproduct decisions and gauge
brand authenticity.
8. There is room for retailers to
grab the “leading innovator”
mantle. While consumers see
plenty that is innovative about
their favorite retailer, very few
retailers qualify as “leading
innovators” in shoppers’ minds.

1: To understand future global shopping behavior,
look to China
The influential science fiction author
and technology essayist William
Gibson is credited with saying, “Thefuture is already here; it’s just not
widely distributed yet.”
Gibson’s credo is certainly accurate
when it comes to consumer
behavior, the future of which issquarely centered in China. Not only
does our Total Retail survey data
illustrate a continuing willingness
on the part of Chinese consumers
to become early adopters of cuttingedge shopping habits such as mobile“The future is here. It’s just not widely distributed yet.”—William Gibson, science fiction author
buying but, in conjunction with
our studies from previous years,
it suggests that Chinese shopping
behavior is a leading indicator for
global shopping behaviors. In otherwords, what Chinese consumers are
doing today, shoppers in the rest of
the world will be doing in the nottoo-distant future.

2
3

Let’s start with some recent sales
data. Chinese online sales in 2015
massively shifted to mobile. Single’s
Day—the 24-hour shopping festivalthat now dwarfs Black Friday interms of sales—is often used as abellwether for China’s e-commercemarket. This year, Alibaba's Single’s
Day online sales came in at $14.3
billion, a 60% increase over 2014.2
Most significant, however, was theshift to mobile. On Single’s Day
2015, 69% of all transactions weremade on mobile devices, up from
43% in 2014.3
Chinese consumers are also leading
the way in their willingness toleapfrog legacy technologies infavor of a “social” replacement.
For example, the Chinese smart
phone manufacturer Xiaomi,
now the fourth largest globally,
bypasses selling through telecoms
carriers and, instead, sells 70% of
its products directly to consumers
online. This is done throughcultivating engagement on social
platforms among a core group ofusers (referred to as “Mi-fans”).
Xiaomi uses social engagementtactics like contests, exclusive
events and flash sales to turn
new product releases into online
shopping festivals.

theatlantic.com, Alibaba Brought in $1 Billion During the First 8 Minutes of China's Black Friday, November 11, 2015.
Business Insider, November 14, 2015.
Total retail 2016 | 5

Our Total Retail data echoes what’s
happening in the Chinese market.
In our China sample, 65% say they
shop online via their mobile at least
monthly, and only 12% have neverdone so. In our global sample, on
the other hand, just 28% say they
shop online via their mobile at least
once a month, and 46% have nevershopped online via their mobile.
There are several reasons that
explain why mobile is so advanced
in China. One is the relative lack ofpersonal computers compared tothe penetration of mobile phones;
another is that Chinese e-commerce
players such as Baidu, Alibaba,or Tencent are leaders in mobile
personalization through their hugedata analytics platforms. So Chinese
online shoppers are presented withpersonalized information based on
their income level, shopping habits
and location in a city, even if they
are walking or driving at the time.
But how do we know that othershoppers will adopt the behaviors ofChinese online shoppers? Projectingfrom the relative trends in thepast few years, we can expect theworld to follow Chinese shopping
behavior. As Figure 1 illustrates, inthe past four surveys we have asked
how often respondents shopped
online. The percentage of Chinese
shoppers who shop online every day
has increased at a much faster rate

than the rest of the world has. But
the percentage of our global sample
that shops online every day (7.1%)
has now overtaken where China wasin 2012 (4.3%), and is increasing
steadily. When it comes to adopting
mobile, our global sample is about
three years behind the Chinese.
Figure 1: Almost one in five of our surveyed Chinese consumers
shops online daily

19.6%
18.7%

Those who
shop
online daily

13.8%

7.1%
5.5%
4.3%
2.9%

BUY NOWBUY NOW

GlobalChina
Source: PwC, Total Retail Survey, 2016
6 | Total retail 2016

6.0%

2012

2013

2014

2015

Compared to our survey one year
ago, we’ve also seen a massive
jump in the number of Chinese
shoppers who say they have usedtheir mobile/smartphone to pay fora purchase, from 18% to 43%. At
the same time, our global sample
jumped from 12% to 20%, justslightly higher than China lastyear. If online shoppers around theworld follow Chinese consumers
again in the next year, we’ll see amajor boom in the use of mobile
payments globally.
For some shopping behaviors,
though, the rest of the world is far
enough behind China that it willtake years to catch up. Over the
past several years, for instance, wehave asked our survey respondents
to agree or disagree with a numberof statements about the use of theirmobile device. In Figure 2, we
see that when it comes to trust (“Iam willing to load credit onto mymobile phone to provide payment
for products”) and using a mobile
phone as a purchasing tool, theChina sample and global sample are
increasing at the same rate—but it
will likely take some time before therest of the world catches up to where

China was in 2014. In terms of thestatement “My mobile phone will
become my main tool through whichto purchase items”, for example, theglobal results for those respondents
agreeing with that statement inthis year’s survey (34%) is still far
behind the percentage of Chinese
who agreed with the statement in2014 (55%).
Figure 2: The mobile phone is getting more popular as apurchasing tool
Q: Please indicate how strongly you agree or disagree with thefollowing statements.
56%

30%

33%

I am willing toload credit onto mymobile phone toprovide payment
for products

55%

30%

60%

34%

GlobalBase: 1,000
Source: PwC, Total Retail Survey, 201659%

My mobile phone
will become mymain tool
through which topurchase items

China

2014

2015

Total retail 2016 | 7

2: We may live in the age of value—but price is still kingTepid economic growth in the
US and Europe over the past few
years has resulted in an economic
bifurcation of shoppers in theseregions. In a recent PwC report
we have labelled consumers as“survivalists” and “selectionists.” 4
For survivalists, affordability isat the core of future purchasedecisions. For these shoppers,
discounts and deals are critical.
Selectionists, on the other hand,maintain an appetite for brand anda distinctive store experience.
In this year’s survey, we asked
several questions about priceto gauge the extent of thisphenomenon. We found thataffordability is, indeed, a major
driver for shopping behavior aroundthe world, across income bands andacross national borders. And yet, it’s
just part of the larger value story.
Just as important as the actual priceis the perceived value of a purchase.

Figure 3: Online shoppers choose a favorite retailer because theprice is right
Q: Thinking of your favorite retailer, why do you shop here?

They usually have the items I want in stock

32%

I trust the brand

32%

They sell things I cannot find anywhere else

25%

They have a good returns policy

25%

They have fast/reliable delivery

24%

Their website/mobile site is easy to use

22%

I can check the in-store availability ofa product online

21%

They have a great loyalty program

20%

PwC, 2015 Holiday Outlook.

8 | Total retail 201617%

Their store prices match prices online
Superior online customer reviews

14%

Sales associates are knowledgeable
and responsive

14%

They provide me with personalized
offers/marketing

12%

They provide advice or help mechoose products

11%

They have inspiring online content whichcatches my interest

11%

They are a socially/environmentally
responsible retailer

7%

They are an independent retailer witha community feel6%

Base: 22,618
Source: PwC, Total Retail Survey, 2016

4

60%

Their prices are goodFor example, in many countries,
convenience is as much a part ofvalue as price, as shown in Figure 4.
Take South Africa. When we asked
South African online shoppers what“has been your main influencer
for buying online in the last 12
months,” 57% of our sample said
that convenience was their main
influencer, compared to just 30% forprice. And when we looked at theUnited States—58% of our sample
said that convenience was the main
influencer for buying online. For
our entire global sample in fact,
convenience (47%) was a slightly
bigger influencer than price (43%)
when buying online. Clearly there ismore to value than price.
In our simplest and most straightforward question on value, we
asked, “Thinking of your favorite
retailer, why do you shop here?”
Price trumps all other reasons inthis context: 60% of our global
sample named price; the secondmost named option at 32% was“they usually have the items I wantin stock.” But even in this question,
value had an intangible component.
The third most-named option outof the 18 options was “I trust thebrand,” at 32%.

Figure 4: Depending on the country, price and convenience rule
Q: What has been your main influencer for buying online in the last 12 months?
I buy online because I buy online because I buy online for otherit is convenient
it is cheaper
reasons
Australia

40%

47%

13%

Belgium

43%

39%

18%

Brazil

42%

54%

5%

Canada

46%

37%

17%

Chile

24%

63%

13%

China

62%

36%

1%

Denmark

38%

50%

12%

France

47%

47%

7%

Germany

56%

35%

9%

Hong Kong*

47%

47%

7%

India

65%

31%

4%

Italy

49%

42%

9%

Japan

49%

44%

7%

Malaysia

50%

42%

9%

Middle East**

42%

42%

15%

Mexico

36%

48%

16%

Poland

51%

43%

6%

Russia

47%

45%

8%

Singapore

40%

55%

5%

South Africa

57%

30%

13%

Spain

48%

43%

9%

Switzerland

54%

32%

14%

Thailand

51%

38%

11%

Turkey

36%

56%

8%

United Kingdom

55%

37%

8%

United States

58%

32%

10%

Global

47%

43%

10%

* For Hong Kong, the base size was 100 survey respondents**Middle East includes UAE, Egypt & Saudi Arabia
Base: 22,618
Source: PwC, Total Retail Survey, 2016
Total retail 2016 | 9

Not only are our respondents
looking for deals, they’d evenpurchase outside their country ofresidence to get them. This year we
asked for the first time what would
lead our global sample to purchasefrom an out-of-country online
retailer in the next 12 months.
Price was king—56% of our global
sample said that “better prices
available” would convince them.
Figure 5: Even high earners will search far and wide for a good deal

The two highest-earnings income brackets
in each of our surveyed countries plan to purchasefrom an out-of-country online retailer in
the next 12 months for better prices

65%

73%

GlobalBase: 1,000
Source: PwC, Total Retail Survey, 201610 | Total retail 2016

Brazil61%

61%

CanadaChina

Even among high earners, finding
deals is a priority. If we combine
the two highest-earning brackets
across three of our countries—
Brazil, Canada, and China—thehigh earners in each country still
would shop out-of-country mostly
because of price. For Brazil, 73% ofhigh earners say they would; while
61% of high earners in Canada said
they would; and in China, 61%
said they would look to an out-ofcountry online retailer for a deal.
On what products are theseshoppers looking for deals froman out-of-country retailer? Fiftyone percent of our sample named
clothing and footwear, 44%
said consumer electronics andcomputers, 40% chose books, music,
movies and video games, and 31%
chose health and beauty products.
The only real dent in the armor
of affordability comes from theMillennials. When we look atMillennials’ (ages 18-34) answers
to the question “Thinking of yourfavorite retailer, why do you shop
here?” just 56% chose “their prices
are good,” compared to 63% for
everyone else. Millennials also shopat their favorite retailer for brandaffinity (33%), superior online
customer reviews (17%), reliable
delivery (25%) and an easy-to-use
website or mobile site (23%).

3: Store traffic doesn’t matter as much as overallcustomer conversion across channels
What do the percentage figures
14.6%, 9.8%, 9.1%, and 11%
have in common? Those were theyear-over-year percentage drops
in foot traffic in US retail stores
between the months April–July
2014 and the months April–July
2015, according to one major retailanalytics firm.5

Retailers have long resigned
themselves to the ubiquity of online
retail and how its growth displaces
physical store visits. The question is
how to create an in-store experiencethat can improve conversion on thevisits stores are getting.
First things first—the physical store
is still operating from a position ofstrength, even as foot traffic slows.
There is strong evidence fromour Total Retail data that many
consumers still desire a physicalinteraction with a product. Figures
6a and 6b show, depending on the
product category, the preference
for a physical store as an element ofboth researching and purchasing.

Figure 6a: The physical store is still a critical step in the purchase journey
Q: Which method do you most prefer for researching your purchases?

Consumer electronics
and computers

1

6%Household appliances 0 5%

7%

47%

7%

2 4%
3

38%

Clothing and footwear 1

8%

7%

32%

Books, music, movies
and video games

1

9%

Furniture andhomeware1

5%

Sports equipment/
outdoor

1

7%

6%

29%

Jewellery/watches

2

6%

6%

26%

Do-it-yourself/home
improvement

1

6%

6%

Grocery

1

5%

Toys

1

7%

7%

28%

2 5%

Health and beauty

1

7%

7%

28%

2

9%
27%

7%

26%
16%

5%

3

6%
5%

46%

2 4%

2

42%

6%
2 5%

2 4%
2 5%

35%

7%

36%

7%

30%

18%

10%
10%
20%

33%

20%

36%

18%

55%

2 4%

6%

Next generation wearables (watch, glasses, pens)

Online via mobile phone or smartphone

Online via PC

Catalog/magazine

TV shopping

5%

29%

In-store

12%

27%

23%
34%

15%

Online via tablet
Do not research/buy this category

Base range: 22,203 –22,527
Source: PwC, Total Retail Survey, 20165

http://retailnext.net/blog/retail-performance-pulse-store-results-july-2015/

Total retail 2016 | 11

In fact, even in those productcategories where shoppers clearly
prefer to research online, suchas in consumer electronics andcomputers, household appliances,and clothing and footwear, many
still like to go to a store to buy the
product. Take consumer electronics
and computers, for example. Just
29% of our global sample prefers
to do their research in a physicalstore, but 52% prefer to purchase ina physical store. The real questionis creating a store environment inwhich shoppers who prefer to buy
offline are converted to purchasing
customers. One school of thoughtis that clear format differentiationis the best bet for maximum
conversion. For example: flagshipexperience stores, destination
shopping centers, specialist stores,
and pop-up stores make it very clear
to the shopper what their respective
purpose is, so customer expectations
are more likely to be met.

Figure 6b: The physical store is still a critical step in the purchase journey
Q: Which method do you most prefer for buying your purchases?

Consumer electronics
and computers

1 4% 4%32%

Household appliances 0 3% 4%
Clothing and footwear 0 6%

22%
6%

2 2

52%

3% 4%

3%

59%

25%

3%3%

5%
53%

3%

Books, music, movies
and video games

0

Furniture andhomeware

1 4% 5%

Sports equipment/
outdoor

1

5%

5%

21%

2 3%

46%

17%

Jewellery/watches

2

5%

5%

19%

2 3%

50%

15%

Do-it-yourself/home
improvement

1 4% 4%Grocery

1 4% 4%

Toys

1

6%

5%

24%

Health and beauty

1

5%

6%

22%

7%

8%

2 3%

42%
17%

2 3%

11%

5%

40%

2 3%

19%

50%

2 4%

Online via mobile phone or smartphone
Catalog/magazine

12 | Total retail 2016

14%

72%

2 2

Next generation wearables (watch, glasses, pens)

Base range: 22,164 –22,452
Source: PwC, Total Retail Survey, 2016

7%

55%

Online via PC

TV shopping

7%

62%

2 3%

17%

30%

In-store

Online via tablet
Do not research/buy this category

10%What do shoppers say is the key toan in-store experience that canmake the most of a trip to the store?
When we asked our global sample
what would make the in-store
shopping experience better, the mostpopular answers suggested a host ofchanges that retailers could make toenhance their physical stores.

Indeed, Figure 7 below illustrates
the resilience of the physical store.
In no product category did our
respondents say they purchased the
majority of their products online in
the past 12 months.

Figure 7: A look at online purchasing across product categories
Q: For each of the following product categories, how many of your purchases have you made online over the last 12
months (including purchases made from a computer, tablet or mobile/smartphone or social media platform)?

Consumer electronics
and computers

4% 5%

6%

8%

Household appliances

3 3 4%

6%

9%

Clothing and footwear

2 4%

8%

Books, music, movies
and video games

5%

8%

Furniture and homeware 2 2 4%

12%

14%
10%

7%

12%

5%

7%

10%

Jewellery/watches

2 3 4%

7%

9%

Do-it-yourself/home
improvement

2 2 4%

Toys
Health and beauty

2 3

5%

3

3

5%

3

4

6%

8%
10%

14%

13%

23%

10%

13%

13%
23%
28%

26%

15%

11%

20%

36%

17%

8%

7%

16%

17%

9%

22%

24%

17%

2 3

6%

34%

18%

9%

16%

22%

19%

Sports equipment/
outdoor

Grocery

26%

29%

29%

34%

27%

42%
18%

20%

22%
19%

29%
26%

19%

Exclusively purchase online

Almost all of my purchases

Most of my purchases

About half of my purchases

Some purchases

A few purchases

Don’t purchase this category online

Don’t purchase this category at all

Base range: 22,098 –22,382
Source: PwC, Total Retail Survey, 2016

Total retail 2016 | 13

Among them were sales associateswith a deep knowledge of the productrange (40%), ease of checkout(35%)6 ability to check online stock
quickly (32%), an inviting ambience(23%), and in-store Wi-Fi (22%).
Another angle we explored on thein-store experience centered on themobile phone and how consumers
want to use it while within the four
walls of the store. The answers
illustrated in Figure 8 suggest thatthose retailers who can target theircustomers with promotions andoffers while in-store, ensure thatloyalty program information is upto-date on their mobile website, andfacilitate mobile payments will bemeeting expectations around mobile
use when consumers make thoseincreasingly less frequent—butpotentially very valuable—visits
to a physical store.
Figure 8: The mobile phone is increasingly being used
for purchasing

Q: Which of the following have you done using your mobile/smartphonewhilst in-store?

Compared prices with competitors

36%

Researched products

36%
31%

Accessed a coupon/promotional code

25%

Checked reviews about the product/retailer
Accessed confirmation email to pick up
product purchased online

23%

Accessed loyalty/reward programs

21%

Checked funding available before purchasing

21%

Stored product information for purchaseat a later date

21%
20%

Paid for my purchase“Checked in” at store via social media

15%

Received an offer based on proximity
to store

14%

Posted an online comment to the retailer/
brand about the product/offer
None of the above

11%
24%

Base: 22,618
Source: PwC, Total Retail Survey, 2016

Ease of checkout” category was created by combining the “self-service checkout” and “sales associates who can take payment without going to the
cash register” options.
6

14 | Total retail 2016

4: Retail talent (finally) matters
Talent has long been regarded
as a fungible asset in retail. The
thinking has been that since store
associates often don’t stay for the
long-term, intensive training has
a questionable ROI. Even when it
comes to executive management,
retail CEOs have historicallyearned lower compensation thantheir counterparts at similar size
companies in many other industries.
Indeed, our data indicates thatcompared to other features of aretailer, service by sales associates
is not, on its own, a big driver forfavoring a retailer, ranking after
such factors as price, product, instock availability, and return policy.
That leads to the question: can retailtalent become a differentiator? The
answer is yes, and the time is now.
A closer look at our research data
indicates that the changing roleof the store, soaring customer
expectations, and the desire to
support local businesses could
put a real premium on retail
employee talent. In particular, themore sophisticated dimensions ofcustomer service (personalized
advice, special after-sales services,and demonstrated deep productknowledge) could be a pointof differentiation for retailers,particularly for retailers with asignificant physical store footprint.
Figure 9 shows just how
important product knowledge is
to consumers today.
Figure 9: Better sales associates make for a better
shopping experience
Q: Which of the following would make your in-store shopping
experience better?

Sales associates witha deep knowledge ofthe product range
Ease ofcheckout

40%

35%
Ability to checkother store or online
stock quickly

32%
None of
them
6%

25%

Specialized
customer events 14%

VIP benefits i.e.
lounges/personalized 14%
shopper/refreshments

25%

22% 23%In-store Wi-Fi
with fast, simple login

Ability to see/order
extended range of
products on screen
in-store

Real-time, personalized
offers designed
especially for me

Inviting
ambience

Base: 22,618
Source: PwC, Total Retail Survey, 2016
Total retail 2016 | 15

By far the factor that would makethe in-store experience betteris sales associates with a deep
knowledge of the product range,
at 40%; another important option
for consumers was ability to checkother store or online stock quickly.
The commitment of companies likeApple and Nike to in-store customer
service and nurturing experienced,
knowledgeable staff has raised thebar for retailers everywhere.
Studies by current and former
Wharton academics confirm that
customer service and employee
training can have a positive impact
on both customer satisfaction
and sales. One study found that,among other operational variables,
store staffing (as measured by
payroll) and customers’ ratingsof employee knowledge impact
customer satisfaction and sales.7
Another study examined Dillard
sales associates' level of training.
Experticity, a source of online
training models, found that eachtraining module taken increased asales associate’s sales by 1.8 %.8in store, 27% say this is because
they prefer to speak directly witha store employee. And what would
increase shoppers’ preferences
for buying from a neighborhood
retailer? No less than four of the
top five responses given related tostore employees: better aftercare/aftersales service (31%), helpful
store personnel (29%), personalized
service (28%), and boosting local
employment (29%).
Figure 10: In-store, the desire to speak to sales staff can trump
the lure of the mobile phone
Q: Why don’t you use your mobile/smartphone whilst shopping in-store?
I see no benefit of using my mobile/
smartphone whilst shopping in-store

27%

Prefer to speak to sales staff directly

16%

The screen is too small
I’m worried about security

14%

Not comfortable sharing personal data

13%
11%

No wifi access10%

I don’t have a data plan
Mobile websites are not easy to use

Figure 10 shows consumer desire
for helpful, knowledgeable store
associates in another way. Of those
consumers who stated they do not
use a mobile/smartphone while38%

I have a slow data connection
I don’t own a mobile/smartphone

7%
5%
18%

Base: 5,507
Source: PwC, Total Retail Survey, 2016

Fisher Marshall L., Jayanth Krishnan, and Serguei Netessine (2006), Retail Sore Execution: An Empirical Study, http://knowledge.wharton.upenn.edu/
wp-content/uploads/2013/09/13361.pdf
8Fisher, Marshall L., Santiago Gallino, and Serguei Netessine (2015), Does Online Learning Work in Retail? http://papers.ssrn.com/sol3/papers.cfm?
abstract_id=2670618
7

16 | Total retail 2016

A deeper dive into our data showsmajor differences across countries
when it comes to the importanceof retail talent. For retailers, athorough understanding of themarket is important for effective
investments into sales associatetraining and customer service.
In some countries (UK, France,
Japan, Italy), customer service
ranked lower as a factor in making
for a great shopping experience.
But in Thailand, China, and the
Middle East, for example, customers
cite customer service relatively
higher as driving their favorite
retailer perception.

In other countries (Germany,
Spain and Chile), customer service
has a huge impact on favorite
retailer perception, and enhanced
service would improve both thein-store experience and local
retailer preference.

Total retail 2016 | 17

5: Mobile devices have turned the corner aspurchasing tools
In last year’s report, we described
how the mobile phone was still
being used primarily as a prepurchase tool, with online shoppers
using it for researching products
and stores, checking social
media for customer reviews, andgetting coupons and offers.

Over Thanksgiving
weekend roughly

103 million
Americans
shopped online
and accounted
for almost athird (29%) of
total sales—up
12% over 20149

Many retailers are displaying a real
flair for innovation in this regard;
for example, the Swiss retailer
Omega, based in Zurich, displays
the majority of its products inwindows with prominent QR codes,
so shoppers can scan the QR code,
look up the product to get more
information, and then order on thephone for same day delivery. The
Danish retailer T. Hansen, whichsells auto equipment and spareparts, has introduced a unique twist
on “click & collect.” After a customer
purchases a product online, theitem will be ready for pick-up 30
minutes later in a store of theirchoice. When they come to the store
they scan you mobile phone andthen skip the line. If the product is
not ready, it will be free.

placing orders. Take Thanksgiving
weekend in the US. Roughly 103
million Americans shopped online
over the Thanksgiving-Black Friday
weekend and, according to Adobe,
mobile purchases drove the majorityof those Thanksgiving weekend
online shopping visits (51%),
accounting for almost a third (29%)
of sales—up 12% over 2014.9 In fact,
investment bank Goldman Sachs
predicts at the rate that retailers areintegrating mobile into the shopping
experience, mobile commerce
will account for almost half of all
e-commerce by 2018.10
If our survey is any indication,
mobile shopping will increase
its share of the online shopping
revenue pie, and perhaps enlarge
the pie itself. For our global sample,
purchasing in the store via mobile
phone is up 8% this year over lastyear, with 20% confirming thatthey have made purchases this way,compared to 12% last year. Forty-six
percent of our global sample buys
products on their mobile at least a
few times a year, and 28% do so atleast monthly.

In 2015, however, as overall online
shopping saw another growth spurt,
mobile shopping reached a tipping
point, being used much more for

Adobe Systems press release, November 30, 2015, "Adobe Data Shows Cyber Monday Largest Online Sales Day in History with $3 Billion."
http://www.verifi.com/wp-content/uploads/2015/03/Verifi_State-of-Mobile_FINALweb.pdf

10

18 | Total retail 2016

But it’s when we look at shopping
behaviors in the emerging versus
established markets that the bright
future of mobile purchasing really
becomes clear.11
Without the historical loyalty to the“High Street” and with the rate ofpersonal computer ownership far
lower than in established countries,
emerging markets consumers
have leapfrogged to mobile phones
and are settling on them as their
shopping channel of choice. Among
our emerging market survey
respondents, for example, 16% saythey buy products at least weekly
via their mobile phone, compared
to 9% of our established markets
respondents. And looking at how
often online shoppers buy productson their mobile at least once amonth, the gap widens significantly.
Thirty-five percent of emerging
markets respondents buy productson their mobile at least once amonth, compared to 22% of thosein established markets. Whether
an emerging or established market,
cyber-security is always on the mindof consumers, and more than 60% of
our respondents from both markets
are wary of having their personalcredit information hacked while

using a mobile device. Consumers
from emerging countries, however,are still more willing to load crediton their mobile phone and store
their delivery information in an app.
Figure 11: The shopping experience through the lenses of
emerging and established markets
Q: How often do you buy products (e.g., buy clothes, books, electronics) using
the following shopping channels? Please do not include grocery shopping.
Emerging

Established

Base range: 9,952−9,953

Base:12,665

Online via tablet
3%

2%

9%

7%
14%

17%
20%

44.2%
7%

15%
5%

44%

57%

Online via mobile phone or smartphone
4%

2%

12%

7%
13%

19%
23%

44.2%
9%

15%
6%
56%

33%

Next generation wearables (watch, glasses, pens)
2%

1%

5%

2%
4%

10%
17%
12%

44.2%

7%
6%
80%

53%

Daily

WeeklyMonthly

A few times a year

Once a year

Never

Source: PwC, Total Retail Survey, 2016

To give another perspective on our survey analysis we used the Dow Jones country classification index to classify our overall sample into emerging
market countries (Brazil, Chile, China, India, Malaysia, Mexico, Poland, Russia, South Africa, Thailand, Turkey, and the Middle East) and establishedmarkets (Australia, Belgium, Canada, Denmark, France, Germany, Hong Kong, Italy, Japan, Singapore, Spain, Switzerland, UK, and the USA).
11

Total retail 2016 | 19

A reliance by emerging markets
shoppers on mobile phones
also extends to the in-store
experience. Twenty-seven percent
of emerging markets shoppers
paid for purchases in the store
with a mobile, while just 13% of
established markets shoppers did.
Perhaps the best overall illustrationof this march toward mobile comesby looking back several years to see
how respondents have answered
the question, “How often do you
buy products using the following
shopping channels?” Figure 12
shows that in the category ofmobile/smart phone, the biggest
change has been in the “Never”
response, which has plummetedfrom 70% to 46% of our global
sample. If we see the same
percentage drop over the next three
years, by the beginning of 2019
almost 80% would be shopping via
a mobile phone for at least some of
their purchases.
One example of how retailers aretaking advantage of this migration
to mobile is Zalando, a Berlin-based
footwear and clothing retailer thatnow experiences nearly 60% of
its web site visits through mobile
devices. Zalando’s mobile results
have come after creating “theStudio” with the help of a global
design and innovation firm. The
purpose of the Studio is to quickly
create new digital products, services
and experiences for Zalando’s online
customers. The time frame for apps
coming to fruition at Zalando is not
years or months, but weeks.
Figure 12: Frequency of purchasing via mobile/smart phone isincreasing across each of the following time frames
Q: How often do you buy products using a mobile/smart phone? Please do notinclude grocery shopping.
2%

2%

5%

7%
9%

12%
14%

2012
57%

15%

70%

3%

3%
8%

9%
13%

16%

46%
52%

2014

2015

7%

7%

16%

Daily

WeeklyA few times a year
Base: 1,000
Source: PwC, Total Retail Survey, 201620 | Total retail 2016

7%

2013

19%

Monthly
NeverOnce a year

Figure 12 illustrates anotherinteresting fact related to thefrequency of mobile shopping.
While the number of respondents
who shop on their mobile phone justonce a year has stayed steady at 7%
from 2012–2015, those who shop
monthly has grown from 9% to 16%,
and weekly from 5% to 9%, and a
few times a year from 14% to 19%.

Figure 13: In-store, Millennials reach for their mobile phone far
more often than other age groups
Q: Which of the following have you done using your mobile/smartphonewhilst in-store?

Compared prices with competitors

42%

31%

Researched products

43%

30%

24%

Paid for my purchase

36%
20%

“Checked in” at store via social media

23%

Posted an online comment to the retailer/
brand about the product/offer

14% 8%
17%

26%

11%

Accessed loyalty/reward programs

Received an offer based on proximity
to store

18%

12%
32%

Checked reviews about the product/retailer

20%

Accessed confirmation email to pick up
product purchased online

26%

Checked funding available before purchasing

26%

17%

Stored product information for purchase at
a later date

26%

17%

None of the above

Millennials base: 10,395
All others 12,223
Source: PwC, Total Retail Survey, 201612%

As with many shopping habits,
there is a marked difference inmobile purchasing when it comesto younger shoppers, including theMillennials so prized by retailers.
Figure 13 shows how frequently
shoppers aged 18-34 engage incertain purchasing-related activities.
Twenty-four percent of Millennials
said they paid for purchases on
their mobile compared to 16% for
everyone else, 23% accessed theirloyalty/reward program compared
to 18% for everyone else, and 26%
checked their funding available
before purchasing, compared to 17%
of everyone else.

16%

Accessed a coupon/promotional code

So the vast majority of shoppers
are not just trying mobilepurchasing—they are trying it andthen doing it more and more. Partof the reason for consumers trying
mobile purchasing and sticking
with it concerns the increasingease of use. Experiences can varyacross mobile sites and apps, andAmazon has popularized the oneclick shopping button. Research
has shown that simplifying theonline checkout process makes
consumers much more likely tocomplete the purchase.

21%

35%

Millennials

All others

Total retail 2016 | 21

6: Today’s consumers look to community
Today, the word “community”
often implies a virtual or digitalcommunity, particularly whenapplied to Millennials. But
retailers in the past few years
have been responding in a hostof ways to consumers’ quests
for connection, exclusivity,
customization, and membership.

91% of our global survey sample reported thatthey are a member of a loyalty/reward program.
The traditional method of providing
additional benefits to customers
has been through membershipin a loyalty/reward program.
And loyalty programs have beenastonishingly successful tools
for retailers: 91% of our global
survey sample reported that they
are a member of a loyalty/reward
program. So consumers’ willingness
to be part of a retailer communitythat brings tangible benefits is clear.
But, in many ways, loyalty programs
have grown stagnant through a
failure of imagination, and don’t
really build a community. Gettinga certain level of award points due
to spending a certain amount ofmoney at a retailer doesn’t connect

22 | Total retail 2016

customers to like-minded consumers
in any significant way. For example,
when we asked our sample to namethe top three benefits they received
from their loyalty/reward programs,
the most popular answers weremember-only discounts/offers(70%), collecting reward points(61%), and free shipping (58%). All
legitimate benefits, certainly, but notexactly the kind of personalization,connection, and engagementthat retailers could potentiallyintegrate into their loyalty plans. We
believe there are innovative ways
for retailers to create community
through loyalty programs.

70%

said member-only
discounts/offers
was a top benefit

61%

said collecting
reward points was
a top benefit

58%

said free shipping
was a top benefit

Behind the most popular answers
to the question we asked about
loyalty programs, in fact, was otherdata that hints at the desire for ahigher degree of customization
and unique, exclusive benefits.
Respondents also chosepersonalized marketing offers(23%), access to special member
events (18%), and access to
exclusive member-only areas (14%)
as key benefits of being a memberof a loyalty-reward program.
From a geographic point of view, if
the China leading indicator effectdiscussed earlier in this report canbe applied to loyalty programs,
expect far less emphasis fromconsumers on reward points andshipping in the future, as Chinese
online shoppers value access to
special member events (32%) andpersonalized marketing offers (36%)
far more than their global peers.

Figure 14: While reward points and free shipping are attractive,
consumers also desire exclusivity
Q: What do you feel are the key benefits of being a member of aloyalty/reward program?
70%

Member only discounts/offers
Collecting reward points which can beconverted to air miles/monetary value etc.

61%
58%

Free shipping

23%

Personalized marketing offers

18%

Access to special member events
Access to exclusive member only areas

14%

Special checkout area

12%

Member only catalogs/magazines

10%

I am not a member of a loyalty/
reward program

9%

Re w
poi ardnt s

Base: 22,618
Source: PwC, Total Retail Survey, 2016

Figure 15: While text messages are gaining traction, global
consumers still prefer to receive discounts through email
Q: What is your preferred method to receive discounts, promotions or coupons?

3% Social media
3%

58%
Email

Reaching out to aretailer's website

5%
Apps

20%
Printed10%

Text message
Base: 22,078
Source: PwC, Total Retail Survey, 2016

Total retail 2016 | 23

Many retailers are bettingthat the desire for community
among shoppers will only get
more pronounced. Many ofthe most innovative of these
initiatives bridge the physicaland online worlds.
For example, the upscale
US department store chain
Nordstrom, with a welldeserved reputation for
innovation, created strong
engagement with customers
through the popular social
media site Pinterest. Store items
that are frequently “pinned”
on the site are physicallyhighlighted with a red tag
bearing the Pinterest logo
and prominently displayedin the store. So with noneed for any formal sign-up
or customer membership
details, Nordstrom used thesocial activity surrounding its
products to create an informal“in the know” community,
while building a greater
understanding of its customers’
preferences. This pagedetails some other innovative
examples of retailers building
customer communities.

24 | Total retail 2016

• Tesco—The UK grocery
retailer is “recycling” store
space into a more welcoming
environment in its large stores,
with cafés, nail bars, gyms, andcommunity rooms.
• Rapha—Rapha is a UK cycling
retailer. Its “Rapha Cycle
Club,” offers limited edition
products, access to off-thebeaten track bike trails, and aninternational cycling concierge
service for questions and local
information. The club has alsoestablished a global network ofmeeting places—often cafeswith the Rapha collection
available for purchase—for likeminded cyclists.
• Waitrose—This upscale UK
supermarket started its own
cooking website known as
Waitrose Kitchen, inviting
customers to share their ideas andrecipes while they browse andpurchase products. Due to successof Waitrose Kitchen, Waitrose
Florist and Waitrose Cellar werealso introduced, creating a onestop shopping experience for thiscustomer community.

• IKEA—The iconic Swedish
retailer has empowered “IKEAFans” who interact throughits own blogs and otherforums throughout IKEA’s
social community, organizing
postings by room (e.g. kitchen)or interest (e.g. green living).
Customers showcase their
new decorating projects or
furniture arrangements,
receive feedback from fellow
customers and discuss common
customer challenges, such as
furniture assembly.
• Sport Chek—This Canadiansports apparel and equipment
company shot nine basketballmini-documentaries in ninedifferent Toronto neighborhoods
and featured the pieces in its#MyNorth campaign. The
campaign generated 8,500 social
media mentions and about 38
million social media impressions.

7. Social media is the “great influencer”
If 2015 was the year of mobile, it
was also the year of social media.
While social media is still in its
nascent stages as a driver of online
purchasing, its growth in both puresocial-driven retail sales and referral
traffic is undeniable, outpacing allother online channels. When looking
at the top 500 retailers in the US
for example, the $3.3 billion in sales
from social shopping in 2014 marked
a 26% increase from 2013, according
to the Internet Retailer’s Social
Media 500. This growth is wellahead of the roughly 16% growthrate for the overall e-commercemarket in the US.12
For our Total Retail survey research,too, 2015 appears to be a turning
point. This year, 78% of our global
sample was influenced in some way
by social media, up from 68% in ourprevious study. As shown in Figure
17, 43% of our global sample said
that an interaction with a favorite
brand on social media resulted
in more respect for the brand.
Taking into account those survey
respondents who did interact witha favorite brand, 64% said thatinteraction had led them to respect
or value the brand more.

Figure 16: Social media means more information for shoppers
Q: Which of the following aspects of social media influence your online
shopping behaviour?

Viewing
advertisements

Staying on top of

fashion and
25% current
product trends

30%

Writing reviews,

Receivingpromotional
offerings

and22% comments
feedback

44%

Associating withbrands20% particularor retailers
Reading
reviews,
comments
and feedback

45%

16%

Purchasing
products directly
via a social
media channel

Base: 22,618
Source: PwC, Total Retail Survey, 2016

Figure 17: Shoppers generally come away with a positive impression
after a social media interaction with a brand
Q: Has any interaction you have had with your favourite brands on social media
driven you to respect/value the brand more?

43%

33%

Yes

I have not had
interactions onsocial media

24%
No
Base: 22,618
Source: PwC, Total Retail Survey, 2016

12

Business Insider June 30, 2015, http://www.businessinsider.com/social-commerce-2015-report-2015-6
Total retail 2016 | 25

A full 45% said that reading
reviews, comments and feedback
influences their online shopping
behavior. In emerging markets,
this share is 56%, while it is 36%
in established markets. When we
look at the country breakdown,
the discrepancy is striking. For
example, in Denmark just 22% ofsurvey participants are influenced
by reading review, comments, andfeedback, while in Malaysia thatfigure is 69%. India follows at 66%,
China follows at 63%, Chile follows
at 58%, and Turkey at 56%.
It’s not just consumers who arebeing influenced by customer
reviews, comments and feedback.
For retailers, this tsunami ofvolunteered customer information
is an additional form of customer
research, as there is a huge volumeof data readily available—and inreal time.
Interestingly, social media’s
increasing impact does not soundthe death knell for advertising.
A full 30% of our sample said
that “viewing advertisements”
influenced their shopping
behavior. Online shoppers mostinfluenced by advertisements
reside in India (55%), South Africa(49%), Chile (47%), Mexico (46%)
and Malaysia (45%).

Figure 18: Social media influences in different ways across the globe
Q: Which of the following aspects of social media influence your online
shopping behavior?
Viewing
advertisements

Writing reviews,
comments
and feedback

Reading reviews,
comments
and feedback

Base: 6,775

Base: 5,030

Base: 10,154

Australia

22%

13%

37%

Belgium

15%

8%

23%

Brazil

43%

35%

56%

Canada

22%

13%

38%

Chile

47%

25%

58%

China

28%

35%

63%

Denmark

12%

20%

22%

France

16%

11%

25%

Germany

21%

17%

37%

Hong Kong*

32%

27%

59%

India

55%

45%

66%

Italy

17%

23%

47%

Japan

24%

15%

40%

Malaysia

45%

31%

69%

Middle East**

43%

20%

37%

Mexico

46%

23%

55%

Poland

14%

19%

49%

Russia

20%

31%

59%

Singapore

34%

25%

57%

South Africa

49%

23%

52%

Spain

29%

19%

46%

Switzerland

18%

11%

34%

Thailand

44%

37%

53%

Turkey

44%

40%

56%

United Kingdom

17%

14%

33%

United States

26%

18%

40%

Global

30%

22%

45%

* For Hong Kong, the base size was 100 survey respondents**Middle East includes UAE, Egypt & Saudi Arabia
26 | Total retail 2016

Base: 1,000
Source: PwC, Total Retail Survey, 2016

Figure 19: Social media as a
shopping channel

Online shoppers
who said theypurchased directly
via a social media
channel51%

32%This year also marks the first timein the history of this survey thatwe’ve seen a significant increasein the number of online shoppers
purchasing directly via a social
media channel. Sixteen percent
of our survey sample said thatthey purchase products this way,
an increase of 9% since the 2014
survey. Here we see vast gulfs
between consumers in different
countries. In Belgium, Denmarkand Canada just 4%, 5% and 6%
of online shoppers, respectively,
said that purchasing directly via
a social media channel was partof their shopping behavior, whilein Thailand more than half (51%)
of our respondents said they did
this. Numbers were also high in
India (32%), Malaysia (31%), China(27%), and Middle East (26%).

31%
27%

26%

Whenever social media isdiscussed, our data illustrates
that geography and age are hugefactors. Consumers in emerging
markets are far more influenced
by social media (92%) than thosein established countries (66%). In
addition, when it comes to valuing
the brand because of interactions
with social media, another huge
gulf is apparent. Eighty percent ofemerging markets online shoppers
who have had interactions onsocial media, valued the brandmore, while just 47% of establishedmarkets online shoppers did.
At about age 45 our global sample
of consumers’ shopping behavior
starts to be less influenced by social
media. This is also the age when our
respondents start to report fewer
total interactions with their favorite
brands on social media. We would
expect this dynamic to change
in the coming years, however,as Millennials (ages 18-34) andthose in their mid-30s—shoppers
who have had a decade or moreexperience with social media—
bring that personal history to
middle age.

6%

ThailandIndia

Malaysia

China

Middle East

Canada5%

Denmark

4%

Belgium

Global base: 3,561
Source: PwC, Total Retail Survey, 2016
Total retail 2016 | 27

8: There is room for retailers to grab the “leading
innovator” mantle
It’s a debatable point how muchof a premium retailers have put
on innovation over the years.
But one thing’s for certain:
consumers are now demanding
innovation—technologicalinnovation in particular—as they
insist on a seamless, integrated
omnichannel experience thatenables them to shop fromanywhere via their mobile phone,tablet, PC or wearable device, in
addition to traditional brick-andmortar stores.

As Figure 20 shows, when we
add together our three degrees
of innovative—“innovative,”“very innovative,” and “leading
innovator”—well over 60% of
our sample are saying that theirfavorite retailer is at least somewhat
innovative. Shoppers regarded theirfavorite retailers as most innovativein “availability of products” and“stocking must-have/new products.”

When we asked respondents
directly about how innovative
they thought their favorite retailer
was, the good news is that theygenerally view their favorite
retailers as being quite innovative.

Figure 20: Perceptions of retailer innovation are most positive around product availability; less so insustainability and online presence
Q: Thinking of your favorite retailer, how innovative do you consider them to be with regard to the following areas?

Rewpoin ard
ts

Social media or
online presence

10%

23%

Sustainability

10%

26%

Availability of products

17%

Stocking “musthave”/new products

17%

Delivery options

17%

37%
35%
36%
34%
31%
31%

In-store technology

13%

26%

31%

15%

29%

Base range: 22,164 –22,403
Source: PwC, Total Retail Survey, 201628 | Total retail 2016

4%5%

Innovative

10%
13%
13%
16%

11%

32%

Very innovative

8%
13%

34%

30%

A leading innovator

23%

31%

26%

Store experience

7%

32%

14%

13%

21%

33%

Loyalty programs

Store layout

9%

19%
9%

15%

8%

15%

Not at all innovative

Don't know

The issue for retailers is thesmall percentage of respondents
who believe their favorite
retailer is innovative enoughto be a “leading innovator.” No
category topped 17%, and only
10% of respondents said thatsocial media and sustainability
were categories in which theirfavorite retailer is a leading
innovator. Given how active
the world’s online shoppers areon social media, retailers willcertainly want to improve here.
Possibly, consumers are setting
the bar extremely high for social
media innovation, in which caseretailers simply have more room
to improve.

For those retailers with thewherewithal to invest, there’s
plenty of room to become
known as a leading
innovator.

But either way, this lack ofenthusiasm about favorite retailers
represents a huge opportunity.
For those retailers with thewherewithal to invest, there’s
plenty of room to become known
as a leading innovator.

Total retail 2016 | 29

www.pwc.com/totalretailKey contacts around the world
Global R&C Leader
John Maxwell
T: +1 646 471 3728
E: john.g.maxwell@us.pwc.com

India
Anurag Mathur
T: +91 124 4620 806
E: anurag.mathur@in.pwc.com

Switzerland
Mike Foley
T: +41 (0) 58 792 8244
E: mike.foley@ch.pwc.com

Australia
Chris Paxton
T: +61 2 8266 2903
E: chris.paxton@au.pwc.com

Italy
Elena Cogliati
T: +39 (2) 7785 567
E: elena.cogliati@it.pwc.com

TurkeyAdnan Akan
T: +90 212 326 6104
E: adnan.akan@tr.pwc.com

Belgium
Filip Lozie
T: +32 3 259 3348
E: filip.lozie@be.pwc.com

Japan
Haruhiko Yahagi
T: +81 (70) 1530 6481
E: haruhiko.h.yahagi@jp.pwc.com

UK
Madeleine Thomson
T:+44 20 7213 1281
E: madeleine.thomson@uk.pwc.com

BrazilRicardo Neves
T: +55 11 3674 2583
E: ricardo.neves@br.pwc.com

MexicoArturo Martínez
T: +52 55 5263 8516
E: arturo.martinez@mx.pwc.com

US
Steve Barr
T: +1 415 498 5190
E: steven.j.barr@pwc.com

CanadaTed Salter
T: +1 416 814 5856
E: ted.salter@ca.pwc.com

Middle East
Julian Thomas
T: +971 4 304 3937
E:julian.thomas@ae.pwc.com

Project direction

Chile
Luis Enrique Alamos
T:+ 56 2 2940 0007
E: lealamos@cl.pwc.com

Norma Taki
T: +971 (4) 304 3571
E: norma.taki@ae.pwc.com

China and Hong Kong
Michael Cheng
T: +825 2289 1033
E: michael.wy.cheng@hk.pwc.com
Kevin Wang
T:+86 (21) 2323 3715
E: kevin.wang@cn.pwc.com
Denmark
Henrik Trangeled Kristensen
T: +45 8932 5662
E: henrik.trangeled.kristensen@dk.pwc.com
FranceSabine Durand-Hayes
T: +33 (1) 56 57 85 29
E: sabine.durand@fr.pwc.com
Germany
Gerd Bovensiepen
T: +49 211 981 2939
E: g.bovensiepen@de.pwc.com

PolandKrzysztof Badowski
T: +48 22 742 6716
E: krzysztof.badowski@pl.pwc.com

Mike Brewster
Amie Hinderliter

Total Retail field research
PwC's Research to Insight (r2i):
Colin McIlheney
Claire-Louise Moore
Ciara Shufflebottom
Bianca Poole

RussiaMartijn Peeters
T: +7 495 967 6144
E: martijn.peeters@ru.pwc.com

Global report research teamSouth Africa
John Wilkinson
T: +27 21 529 2086
E: john.wilkinson@za.pwc.com

PwC

Southeast Asia
Scott Constance
T:+60 17 630 1285
E:scott.constance@my.pwc.com
Spain
Javier Vello Cuadrado
T: +34 915 685 188
E: javier.vello.cuadrado@es.pwc.com

Denise Dahlhoff, Baker Retailing Centerat the Wharton School
Simon Bender
Irena Cerovina
Anne-Lise GlauserMark Pinkerton
Jackie Swanson
Krystin Weseman

DesignKaren Montgomery
Bruce Raksnys© 2016 PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity.
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