RetailX: Global E-Commerce Report 2023 (253 pages)

RetailX has released its "Global E-Commerce Report 2023". Global economic troubles lie ahead, and retailers need to focus on their customers if they want to prosper. National economies look fragile. A series of shocks dating back to at least the 2008-2009 global economic crisis have made people realize that good news is followed by bad news.

How regions compare — and how they contrast

The global population is approaching 8.1 billion, the highest number ever. To put this in context, the Population Reference Bureau (PRB) estimates that the global population was just 300 million in 11 AD. Or, to put the current numbers in perspective, those of us alive today account for about 7% of all people who have ever lived.

Various demographic and economic pressures will be a challenge for much of the world in the future. While the population growth figures may remain relatively stable at around 1%, the distribution of population growth is by no means even. In African countries, 61% of the population belongs to Generation Z and Generation Alpha. In North America, the figure is 35%, most of which may be young Mexicans. In Africa, the population growth rate is 3.1%. In North America, the figure is 0.5%. In Europe, the population is decreasing. Villages in Italy and Spain are desperately lacking young people.

Uneven population distribution also leads to differences in purchasing behavior and spending power.

Global Consumers

Globally, consumers understand how e-commerce works

Is a global retail culture in the making? It sometimes seems that way when you’re talking about the high end of the market. For example, the current strategy of British luxury fashion brand Burberry is to grow into a £5 billion ($6.1 billion) revenue brand with profit margins of more than 20%. This seems ambitious but credible, in part because of the company’s reputation as a unique brand that is both modern and timeless, as the Burberry name evokes traditional craftsmanship and quality. It also helps that Burberry has its own iconic product.