APAC

Gen Zs and Millennials are anticipated to drive changing consumption patterns that will impact sales over the next five years.

Manufacturers are now setting plastic reduction goals and adopting recycled packaging.

Over 75% rely on reviews and customer service when shopping.

Approximately two billion cups of coffee are reportedly consumed globally each day. 

Japan has seen the most significant improvement in retail leasing sentiment.

Some brands are engaging customers through various marketing campaigns like pop-ups, exhibitions, and co-branded activities.

Defining value in digital transformation strategies is considered crucial.

China is also anticipated to become the world's largest luxury market.

About 22% of digital consumers engage in loyalty programmes for exclusive experiences.

However, persistent inflation and supply chain disruptions continue to challenge the industry.

Whilst supporting social and environmental responsibility, Gen Z’s are reluctant to pay extra for these values, the report said.

It extends the partnership for Marc Jacobs branded eyewear until December 2031.

This is part of its commitment to integrating AI technology whilst emphasizing human values.

By implementing a sound omnichannel strategy, prioritising the consumer experience and adapting to changing trends, retailers can differentiate their value proposition.

Their focus has shifted towards perfecting the end-to-end conversational journey.

Sportswear and apparel followed closely as the second and third most active trades, respectively.