《RetailX&Imagino：2024年英國零售商Top500報告（英文版）（55頁）.pdf》由會員分享，可在線閱讀，更多相關《RetailX&Imagino：2024年英國零售商Top500報告（英文版）（55頁）.pdf（55頁珍藏版）》請在三個皮匠報告上搜索。

1、RXTUK24RPUK Top5002024RetailXIn partnership with:499|February 20242|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|INTRODUCTIONWelcome to the 2024 RetailX UK Top500,which both marks a decade of research and is also our tenth report in this series.In 2014,we published the first UK Top500 Footprin

2、t report,naming the 500 largest retailers selling online and across sales channels to UK shoppers.We ranked those retailers by performance in a report published in early 2015 and have continued to do the same ever since.Over the years,our research has become increasingly detailed and is now able to

3、map changes in how shoppers want to buy,as well as how retail businesses sell over the longer term.Today,our research team measures performance according to how retailers,brands and marketplaces add value to their businesses through the Customer,Product,Operations and Capital Value Chains.The long-t

4、erm changes that weve mapped include the shift towards buying online,which peaked during the Covid-19 pandemic and remains higher than before;the shift towards buying across channels;and the shift from a Top500 index dominated by retailers to one in which marketplaces and brands are ever-more import

5、ant.At the same time,weve seen changes in our own business as weve moved from publishing our research through from the broader InternetRetailing brand to the research-specific RetailX,which maps the way that retailers sell.RetailX is also now joined by ConsumerX,which focuses both Introductionon how

6、 shoppers want to buy,as well as how they buy in practice.We trust,as always,that you will find this report useful and that it will prove a reliable tool in both benchmarking your own business and in exploring different opportunities and approaches to retail.Ian Jindal,CEO,RetailXContentsStrategic o

7、verview 03Interview:Sue Harries of Screwfix 06The RetailX UK Top500 2024 09Category analysis of the UK Top500 14Measuring performance 15The Customer Value Chain 16The Product Value Chain 19The Operations Value Chain 22The Capital Value Chain 25Elite and Leading retailers 28New retailers 29Company pr

8、ofile:Amazon 30Company profile:Ikea 31Company profile:Next 32Company profile:Asda 33Company profile:Dunelm 34Company profile:Boden 35Company profile:Richer Sounds 36Company profile:Very 37Partner perspectives 38About our research 48Methodology&definition of a retailer 50Figure index 52Knowledge part

9、ners 53Conclusion 54FeaturedP.06Time is money:Sue Harries of Screwfix on what putting the customer first means in practice for the trade supplies retailerP.09Find out which retailers,brands and marketplaces appear in the RetailX UK Top500 2024P.16Explore the ways retailers add value to their busines

10、ses through RetailX research findings into Value Chains3|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|STRATEGIC OVERVIEWHigh costs of living and low growth continue to be the hallmarks of the UK economy in 2024.The RetailX UK Top500 2024 report arrives as relatively high interest rates may now

11、 have peaked,but continue to affect how much shoppers are spending.A decline in retail sales has helped tip the economy into a technical recession in the second half of 2023.The first green shoots of recovery seem to be appearing in 2024 as retail sales show signs of recovery.A number of forecasters

12、 are suggesting that this year will see economic improvement as inflation subsides and interest rates are cut.THE ECONOMIC CONTEXTTop500 retailers,brands and marketplaces are trading against a backdrop of relatively high interest rates.The Bank of England base rate has been at 5.25%since August 2023

13、,following a steady rise that started in 20221 to combat rising inflation,fuelled by factors including Russias invasion of Ukraine.Rates had previously been at less than 1%since 2009,in the wake of the 2008 financial crisis.UK inflation,as measured on the Consumer Prices Index(CPI),was at 4%in Janua

14、ry 20242.While thats well down on the 10.1%recorded a year earlier,its still twice the Bank of Englands 2%target.Moving towards growth?The UK economy remains challenging,although the green shoots of recovery are forecast to bloom,writes Chloe Rigby As interest rates knock on to higher mortgage and o

15、ther borrowing costs,shoppers continue to hold back on spending.UK GDP figures suggest that the country was in a technical recession in the second half of 2023,with a 0.1%fall in GDP in the third quarter of the year followed by an estimated 0.3%decline.Retail(-0.9%)and wholesale(-1.3%)outputs were t

16、he largest contributors to the fourth quarter decline,according to analysis from the UKs Office for National Statistics(ONS)3.In the run-up to Christmas,the ONS Retail Sales report4 suggested that shoppers cut back on spending at the fastest rate since Covid-19 in December 2023.In the three months t

17、o December 2023,the value of purchases,excluding automotive fuel,fell by 0.5%while the volume of goods bought also fell,by 0.8%.In December 2023,an estimated 27.1%of UK retail sales took place online.Ecommerce sales were 7.7%higher than a year earlier,yet 1.7%lower than the previous month,November 2

18、023.Leading supermarkets Tesco5 and Sainsburys were among those reporting sales growth of more than 6%over the Christmas period.Both cited a focus on value and on service as the reasons for that success.But Watches of Switzerland which prospered during the Covid-19 pandemic warned in January 2024 th

19、at it was assuming“no recovery in consumer demand”in a challenging market,and said that the Christmas luxury market had been marked by volatility6.Shutterstock4|RetailX|February 2024RXTUK24RP 2024 EARLY SIGNS OF RECOVERY?ONS figures for January 2024 have shown the largest monthly rise in retail sale

20、s since April 2021 as shoppers spent 3.9%more than the previous month to buy 3.4%more products.Retail sales grew in all categories except clothing,footwear and textiles.But at the same time,there was a decline in the proportion of sales taking place online.In December 2023,an estimated 26.8%of UK re

21、tail sales had taken place online.Ecommerce sales were put at 7.7%higher than a year earlier but 1.7%lower than the previous month,November 2023.In January 2024,an estimated 24.8%of sales took place online.Ecommerce sales were 4.1%lower than the previous month but 1%higher than they were a year earl

22、ier.In January,online sales were lower than the previous month in all categories except food and department stores,where growth was modest at less than 1%.The ONS Retail Sales report for January 2024 suggests that January spending across was back at levels seen in November 2023,after shoppers focuse

23、d on value.It said:“Some of the fall in December was because of consumers purchasing Christmas gifts earlier,during the November Black Friday discounts.But 46%of surveyed adults still reported plans to spend less on Christmas shopping because of the rising cost of living.”While forecasters from Oxfo

24、rd Economics,Investec and Deutsche Bank7 and EY9 have suggested that inflation will fall to its 2%target rate this year and that interest rates will then be reduced during 2024,that point has not yet,at the time of writing,been reached and the economy remains tough for many.Accountancy firm Begbies

25、Traynor says in its latest Red Flag Alert report9 that more than 47,000 businesses were in“critical”financial distress at the beginning of 2024 25%higher than the previous quarter threatening,in particular,construction,health,education and real estate businesses.Julie Palmer,partner at Begbies Trayn

26、or,said:“After a difficult year for British businesses that was characterised by high interest rates,rampant inflation,weak consumer confidence and rising and unpredictable input costs,we are now seeing this perfect storm impacting every corner of the economy.“Now that the era of cheap money is firm

27、ly a thing of the past,hundreds of thousands of businesses in the UK,who loaded up on affordable debt during those halcyon days,are now coming to terms with the added burden this will have on their finances.”She added:“Sadly,for tens of thousands of British businesses who should be looking ahead to

28、2024 with some degree of optimism,the new year will bring a fight for survival as the debt storm that has been brewing for years looks like it is breaking across the country.”So far this year,there have already been administrations of retailers that would otherwise have appeared in the RetailX UK To

29、p500,such as The Body Shop and Box.co.uk.While green shoots may well be starting to sprout,it remains to be seen whether this will continue.CHANGING RETAILThe RetailX UK Top500 report marks a decade of research in this series and its been a highly eventful ten years.Since 2014,the UK has left the Eu

30、ropean Union,gone through the Covid-19 pandemic and witnessed war breaking out in Europe following Russias invasion of Ukraine.All have left their mark on retail.Brexit resulted in new rules affecting the way that UK retailers can sell to or import from the countries of the European Union.With Covid

31、-19 came restrictions on the sales of non-essential products in shops,as well the subsequent rapid shift to buying online.Just as the pandemic ended,Russias invasion of Ukraine resulted in high prices of both energy and food.The UK Top500 was first published in September 2014 before being fully laun

32、ched at IRX in January 2015.Its Elite and Leading groups were dominated by department stores and general merchandisers ShutterstockUK TOP500 2024|STRATEGIC OVERVIEW5|RetailX|February 2024RXTUK24RP 2024 Amazon stood alongside Argos,House of Fraser,John Lewis and M&S.The Leading group included a numbe

33、r of names that were then stalwarts of the high street but have since moved to trade online only,or have moved from multichannel retailers to brands,among them Topshop,Mothercare and Debenhams.Back then,retailers formed the majority of index members,accounting for all of the Elite and most of the Le

34、ading group.Yet in 2024,the Elite is composed primarily of direct-to-consumer brands.Brands make up half of the Top500,although this strong presence is rewarded with only 22%of the traffic to Top500 brands,as shown in the category analysis of the Top500.Retailers,meanwhile make up 30%of the Top500 a

35、nd see 23%of traffic.Marketplaces account for 20%of the Top500 and see 55%of traffic.Fashion is the largest single category in the UK Top500 2024,accounting for 38%of listed websites by number and seeing 17%of traffic.In contrast,multi-sector websites account for 8%of the Top500 by number but see 48

36、%of traffic.CHANGING CUSTOMER BEHAVIOUR Such developments come in part as a response to changing consumer behaviour.Today,RetailX tracks shopping attitudes through an annual ConsumerX Global Consumer Survey 10.Its latest findings suggest that UK shoppers particularly value buying from a reliable ret

37、ailer when they buy online some 62%say this is very important to them.Other factors that UK shoppers rate as very important include product availability(66%),low prices(49%),having their preferred payment options available(49%)and an easy returns process(47%).Speedy delivery(37%)follows some way beh

38、ind,although 47%say they do pay extra for same-day delivery at least some of the time.75%of UK shoppers say low prices keep them loyal to retailers but they are less likely than in other countries to buy products they see offered with coupons or discounts(26%).67%agree or strongly agree that they wa

39、nt retailers to be ecologically sustainable,while 6%disagree or strongly disagree.58%of UK shoppers research online before making a major purchase,according to ConsumerX findings,while the same proportion value customer reviews(58%).They are less likely than in other countries to say they usually ma

40、ke or manage online orders via their phone(29%)by contrast,45%do so in India and South Africa but 42%of UK respondents say they do tend to use their phone to research a major purchase.There is a distinct preference for online shopping,with UK shoppers among the least likely to want to see an item be

41、fore buying it(23%)and only 16%stating that they miss the instore experience when they shop online.Finally,UK shoppers are among the most likely(74%)to say that they have bought online via social media in the last 12 months.While the last decade has already been marked by fast change,its very likely

42、 that the ecommerce and multichannel industry will continue to change at pace over the next ten years.That is likely to mean that we will see a growing focus on the role of social shopping in retail and that purchases will be still further shaped by how customers use smartphones and where they spend

43、 their working time,whether thats at home,in the office or through hybrid working patterns.1 www.bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate2 www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/latest3 www.ons.gov.uk/economy/grossdomesticproductgdp/bu

44、lletins/gdpfirstquarterlyestimateuk/latest 4 www.ons.gov.uk/businessindustryandtrade/retailindustry5 www.begbies- UK TOP500 2024|STRATEGIC OVERVIEW6|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|INTERVIEW“Time is money,”for Screwfix customers,says its digital,proposition and data director Sue H

45、arries.That is perhaps never truer than when the customer has a prized parking space outside a clients house in London and does not want to lose the space by driving to pick up supplies.This was the scenario recounted by a plumber at a recent Screwfix listening session.“Having the van outside the cu

46、stomers house is like having an office outside the customers house,”says Harries.“They didnt want to lose the space in the day by having to go out to get parts and come back and then struggle to park.”For that customer,says Harries,using Screwfixs Sprint 60-minute delivery service to get necessary i

47、tems meant“winning”over the whole day.The service,introduced in 2021,is used by a variety of tradespeople for a variety of reasons,from having supplies delivered when using the London Underground to travel to a job to dropping off the supplies needed to finish off a project the same day.“Time is mon

48、ey”Chloe Rigby talks to Sue Harries,digital,proposition and data director at Screwfix,about how the Elite retailer puts the customer firmly at the centre of its strategy and what that means in practiceThe anecdote comes as a“delighted”Harries speaks to RetailX in an interview marking the fact that t

49、he trade counter business is this year named in the Elite category of the RetailX UK Top500,marking a triumphant return to the top rank for the Kingfisher Group company.So whats the secret of Screwfixs success?Harries says that at the heart of the Screwfix strategy is a simple concept.“Everything we

50、 do starts and ends with the customers,”she says.“Most of the success that weve had has been built by putting the customer at the forefront of the business.Our tradespeople require reliability and certainty,both in terms of access to products but also the quality of the products.”In practice,says Ha

51、rries,that again means:“Time is money.If theyre not working on a job,theyre not earning money.So part of our business strategy is to optimise to that concept that time is money for them.So convenience is super,super important.We know they need to get their jobs done quickly,ScrewfixSue Harries of Sc

52、rewfix7|RetailX|February 2024RXTUK24RP 2024 ScrewfixKingfisher PLCScrewfixweb traffic:Share price:Total revenue:Gross profit:,year end 2023affordably and right first time,which is part of the DNA that we build a lot of our service and proposition by.Part of that strategy is actually making sure that

53、 we have a Screwfix store nearby.Its super-critical that customers have access to same-day products.”The retailer now has more than 900 stores in a network that has been built by opening,on average,one store a week for the past ten years.In 2005,the retailer had about five.Its medium-term ambition i

54、s to have a thousand.Harries says her top piece of advice is:“Listen to your customers.”She continues:“If youre not thinking about your customer,youll be designing solutions and experiences that dont really meet the customers expectations or solve any pain points they might have”.That means listenin

55、g to customers through dedicated sessions but also watching how shoppers use Screwfixs services in practice.Her second piece of advice is“done is better than perfect”.Its a philosophy that means the retailer can better learn from customers by taking an agile approach to putting its technology in the

56、ir hands as quickly as possible in order to learn from their feedback.“We can sit and think about it in the office,but the best way to do it is get it out there in front of customers and see whether they adopt it or not.”FAST SHIFT TO DIGITALIts a strategy that has been met with a fast uptake of dig

57、ital shopping in recent years.Before the Covid-19 pandemic,around a third of Screwfix sales were online.Yet during the pandemic,digital became the only channel,with sales fulfilled through delivery and collection from stores that became fulfilment hubs.While many retailers have seen digital particip

58、ation slip back following pandemic peaks,Screwfixs participation rate remains high.Today,about 75%of sales are digitally enabled carried out through its website,app or the more than 4,500 instore digital browsers that were installed in its stores since the pandemic started,following the decision to

59、stop the Screwfix catalogue.This was actually a significant step for a business that was founded as a catalogue business in 1979 before being acquired by Kingfisher Group,in 1999.Kingfisher Group reported a pre-tax profit of 611mn(-39.3%)on sales of 13bn(-0.9%)in its most recently published annual f

60、inancial results,for the year to 31 January 2023.Within that,the Screwfix business reported sales of 2.4bn(+1.6%)and Kingfishers UK business,including Screwfix and sister DIY retailer B&Q,reported a retail profit of 603mn(-24%).Screwfixs mobile app is now its fastest-growing channel,with more than 4

61、mn downloads since its 2021 relaunch,when it was upgraded with features such as 60-minute Sprint delivery and store check-in functionality,which is used by shoppers collecting their online orders.Screwfix is now firmly focused on meeting its customers ever-changing expectations.Its priorities remain

62、 on its digital transformation,where it is using data science to inform online recommendations,although sustainability has also come to the fore.The retailer labels sustainable products,refurbishes products and works to keep them in use for longer through its recently acquired eSpares business.It UK

63、 TOP500 2024|INTERVIEW8|RetailX|February 2024RXTUK24RP 2024 has also run a very successful influencer campaign that won more than 12mn views via TikTok and Instagram thanks to a choice of influencers that“really resonated”with the Screwfix customer,as both they and tradespeople dance along to Break

64、My Stride,the 1983 Matthew Wilder hit.A POWERHOUSE OF OPPORTUNITYGiven that our conversation comes as InternetRetailing marks the tenth year of RetailX reports,I ask what changes Harries would pick out from this decade as being the most significant at Screwfix.The move to mobile,the 60-minute delive

65、ry service and the shift from shopping offline to online all feature,as does an increase in the overall numbers of SKUs in the Screwfix range,to 57,000.But its the move from five-minute to one-minute click and collect that seems to push the frontiers of whats possible.This has been enabled,says Harr

66、ies,in part thanks to Screwfixs catalogue roots.“Weve got a single view of the customer,weve got a single view of stock and weve got a single view of orders,”she says.“All our order-taking platforms run off that single view.Theres no lag,everything is real time or near real time.So when a transactio

67、n instantly hits our stores for picking,we can do it in under a minute.“Our stores are set up like a warehouse.So when an order goes to a colleague,they are told the location for them to go and pick.Weve got 900 mini warehouses and lots of colleagues who can pick the order really quickly.Then its th

68、ere for the customer if they choose to collect it within a minute and we really do see people sitting in the car park ordering on their phone,then coming in and say,Im here to collect,and then they shoot off if theyre busy.Even if theres a queue.”It all adds up to a business that Harries says is“one

69、 of retails best kept secrets”,especially so when it comes to attracting digital talent to its Somerset headquarters.“You know,were an absolute digital giant with one of the biggest retail digital platforms in the UK,”she says.“But were relatively unknown when it comes to digital talent.When you ask

70、 people if they have heard of Screwfix,they think,Oh,its a shop.But actually,theres a massive powerhouse of opportunity for people to build a career here for digital and technology.”UK TOP500 2024|INTERVIEW Screwfix Screwfix Screwfix9|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|TOP500 LISTRet

71、ailX UK Top500ELITEAMAZONAPPLEIKEANEXTSCREWFIXTESCOLEADINGARGOSASDAASOSDUNELMHPJD SPORTSJOHN LEWIS&PARTNERSJOULESMARKS&SPENCERNEW LOOKTHE NORTH FACERIVER ISLANDSAINSBURYSSAMSUNGSCHUHUNIQLOURBAN OUTFITTERSVICTORIA PLUMZARATOP50AOBODENBOOHOOMANCOTSWOLD OUTDOORCURRYSELLIS BRIGHAM MOUNTAIN SPORTSFARFETC

72、HFITBITGEMPORIAGO OUTDOORSGUITARGUITARHALFORDSHOLLAND&BARRETTJEWSONLOCCITANELOOKFANTASTICLULULEMONMATALANRAPHASHOE ZONESUPERDRYTK MAXXTOOLSTATIONVANSWICKESTOP100AMARAAVONB&QBLACKSBOOTSCULT BEAUTYDECATHLONDUNE LONDONEBUYERTHE ENTERTAINERFARROW&BALLFREE PEOPLEH&MH.SAMUELHOBBYCRAFTHOMEBASEHUGHES ELECTR

73、ICALHUGO BOSSITSJACK&JONESJIGSAWJIMMY CHOOLAKELANDLEGOLOVEHONEYMAINLINE MENSWEARMANGOMARISOTATHE PERFUME SHOPPETS AT HOMEPRADATHE RANGERICHER SOUNDSROBERT DYASRYMANSEASALT CORNWALLSNOW AND ROCKSOLE TRADERSUPERDRUGTED BAKERTHOMANNTRESPASSTRIPPUNDER ARMOURVERYVICTORIAN PLUMBINGWAREHOUSEWATERSTONESYOUR

74、S CLOTHINGZOOPLUS10|RetailX|February 2024RXTUK24RP 2024 TOP150ADIDASALDIALIEXPRESSAXMINSTERBENSONS FOR BEDSBERSHKABOOHOOBURBERRYCASS ARTCLINIQUEDIORERNEST JONESF.HINDSTHE FRAGRANCE SHOPFRENCH CONNECTIONFUTON COMPANYGANTGOLDSMITHSHOBBS LONDONHOTEL CHOCOLATHUSHICELANDJOJO MAMAN BEBELEEKESLEVISLIBERTY

75、LONDONLLOYDS PHARMACYLOUIS VUITTONMAJESTICMENKINDMINT VELVETMORRISONSNEW BALANCENIKEOLIVER BONASPAVERSPHASE EIGHTRADLEYSHOPDISNEYSMYTHS TOYSSPACE NKSTEAMTRAVIS PERKINSUK ECIG STOREWAITROSE&PARTNERSWEIRDFISHWEX PHOTO VIDEOWHISTLESWILKOTHE WORKSTOP250&OTHER STORIESALLSAINTSAMERICAN GOLFANGLING DIRECTA

76、NN SUMMERSANTHROPOLOGIEASICSBEAUTY BAYBEAVERBROOKSBLINDS2GOBOUX AVENUEBRAVISSIMOCALVIN KLEINCANONCEXCHAIN REACTION CYCLESCLAIRESCLARKSCOTTON TRADERSCREW CLOTHING COMPANYDFSDIESELDJIDREAMSEBAYEE STOREEMMA BRIDGEWATEREND.EURO CAR PARTSEVANS CYCLESFAT FACEFOOTASYLUMFORCE 4FREEMANSFURNITURE123GAMEGAMES

77、WORKSHOPGAPGEAR4MUSICGOPROHABITATHOME BARGAINSHOTTERHOUSE OF FRASERJACK WILLSJD WILLIAMSJESSOPSJONES BOOTMAKERKAREN MILLENL.K.BENNETTUK TOP500 2024|TOP500 LIST11|RetailX|February 2024RXTUK24RP 2024 LACOSTELENOVOM&COMADEMAMAS&PAPASMANDM DIRECTMASSIMO DUTTIMISSGUIDEDMOLTON BROWNMOSS BROS.MOUNTAIN WARE

78、HOUSEMYTHERESANET-A-PORTERNEWEGGNINTENDONISBETSNOTONTHEHIGHSTREETNOVATECHOASISOCADOOFFICEOFFSPRINGOUTDOOR&COUNTRYPANDORAPUMAREEBOKREISSRS COMPONENTSSCANSELECTSELFRIDGESSHEINSIMPLY BESIZE?SKATEHUTSPORTS DIRECTSWAROVSKISWEATY BETTYTATE SHOPTIFFANY&CO.TOASTTOPPS TILESWAYFAIRTHE WHITE COMPANYWHSMITHWIGG

79、LEXBOXYANKEE CANDLEYOOXZALANDOTOP350ABERCROMBIE&FITCHAGENT PROVOCATEURAPPLIANCESDIRECTARMANIASUSBATHSTOREBOSEBRANDALLEYBUILD-A-BEAR WORKSHOPBURTON(US)CARPETRIGHTCARPHONE WAREHOUSECCL COMPUTERSCHAOS CARDSCHARLES TYRWHITTCOSCOSTCOCROCUSDEICHMANNDR.MARTENSETSYFENWICKFLANNELSFOOT LOCKERFOREVER 21FOSSILF

80、URNITURE VILLAGEG-STAR RAWGAKGARMINGEARBESTGRAHAM&GREENGUCCIHARRODSHMVIN THE STYLEJ.CREWJACAMOJARROLDKALEIDOSCOPEKIEHLSKURT GEIGERLANDS ENDLAPTOPS DIRECTLONG TALL SALLYLUSHMACHINE MARTMATCHES FASHIONMERLIN CYCLESMILLETSUK TOP500 2024|TOP500 LIST12|RetailX|February 2024RXTUK24RP 2024 MONICA VINADERMO

81、NKIMOONPIGMR PORTERMULBERRYMUSICMAGPIEMUSTOOAK FURNITURE LANDOKATHE ORIGINAL FACTORY SHOPORVISTHE OUTNETOVERCLOCKERS UKOYSHOPAPERCHASEPARTY CITYPAUL SMITHPRETTYLITTLETHINGPRO:DIRECTPULL&BEARQVCLA REDOUTEROKITROMANROUTE ONERUSSELL&BROMLEYSALLYSALOMONSCSSECRET SALESSLATERSSPORTPURSUITSPORTSBIKESHOPSPO

82、RTSSHOES.COMSTELLA MCCARTNEYSTRADIVARIUSSUNGLASS HUTTHOMAS SABOTHOMPSON&MORGANTIMBERLANDTJ HUGHESTREDZURBAN INDUSTRYVAPE CLUBWATCHES OF SWITZERLANDWEST ELMWHITE STUFFWHITTARD OF CHELSEAYESSTYLEZAVVITOP500ABEBOOKSACE&TATEALAMYALEXANDER MCQUEENALLBEAUTYALLEGROAMDARCOASPINAL OF LONDONAUTO DOCBANG GOODB

83、ARKER&STONEHOUSEBERRY BROS.&RUDDBILLABONGBOTTEGA VENETABRORABULLIONBYPOSTBUYAGIFTCAMPERCARD FACTORYCASETIFYCATH KIDSTONCHARLES CLINKARDCOASTTHE COTSWOLD COMPANYCROCSCRUISEDEBENHAMSDEPOPDESIGUALDHGATE.COMDISCOGSDULUX DECORATOR CENTRESEPIC GAMESESPRITEURONICSFENDIFORTNUM&MASONFOYLESFRAGRANCE DIRECTFRA

84、SER HARTFRED PERRYFUNKY PIDGEONG2A.COMGABORGLASSES DIRECTGYMSHARKHACKETTHAMLEYSHATTONSUK TOP500 2024|TOP500 LIST13|RetailX|February 2024RXTUK24RP 2024 HAWES&CURTISHEALSHELLOFRESHHOLLISTERHUAWEIHUMBLE BUNDLETHE HUTI SAW IT FIRSTIHERBJACQUIE LAWSON CARDSKATE SPADEKWIK FITLAURA ASHLEYLGLINDEXLITTLEWOOD

85、SLOAFLYLE&SCOTTMICHAEL KORSMICROSOFT STOREMODA IN PELLEMOLE ONLINEMONSOONMONTBLANCMPBNA-KDNASTY GALNESPRESSONOTCUTTSNOTINONVIDIAO2 SHOPOLIVER SWEENEYONBUYOPENSEAPHOTOBOXPLANET ORGANICPLAYSTATION STOREPLUMBASEPLUMBWORLDPOLARN O.PYRETPRETTY GREENPRIMARKPRINTING.COMQD STORESRAZERREDBUBBLERESERVEDRICH T

86、ONE MUSICRINGTHE ROYAL MINTSCOTCH&SODASERAPHINESEVENOAKS SOUND AND VISIONSILKFREDSNAPFISHSNEAKERSNSTUFFSOCKSHOPSONOSSONYSPECSAVERSSPRINGERSQUARE ENIXSSENSESTOCKXSTOVES ARE USSTUDIO(EXPRESS GIFTS)SUNSPELSUPERGASUPREMETAYLOR&FRANCISTESSUTITHORNTONSTIMPSONTISOTJCTLC ELECTRICAL SUPPLIESUBISOFTUGGUK FLOO

87、RING DIRECTUNITED COLORS OF BENETTONUSCVIAGOGOVIKINGVINTEDVISION EXPRESSWALLS AND FLOORSWARREN JAMESWATCHFINDER&CO.WEEKDAYWELDRICKS PHARMACYWILEYTHE WINE SOCIETYWISHWOBWOLF&BADGERWOOL WAREHOUSEWYNSORSYVES SAINT LAURENTZAZZLEUK TOP500 2024|TOP500 LIST14|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2

88、024|SANKEYCategory analysis of the UK Top500Categories of theUK Top500Web traffic to the UK Top500,by category15|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|MEASURING PERFORMANCEMeasuring performanceWe score performance in tests to create an index value.The Total Index Value(TIV)is the sum of

89、 all companies results while the Average Index Value(AIV)is the average companys result.These figures enable us to compare performance between years,sectors and regions since a higher TIV or AIV represents a greater measured capability and performance.Our benchmarking reveals that performance has ma

90、rkedly improved in most areas in successive years36.434.93433.833.733.233.23332.7494742393534312716|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|CUSTOMERInvesting in the customer experience is a focus for many retailers at a time when shoppers are facing pressures on household budgets.By doing

91、 so,retailers work to ensure that when customers do spend,these consumers choose to do so with them.In the Customer Value Chain,RetailX research considers how retail businesses add value to their businesses through customer service.Researchers consider the tools that retailers,brands and marketplace

92、s use first to win and then retain customers,while encouraging them to spend more and more often.That starts with how retailers give shoppers access to their products,win a larger volume of customers and make more margin through every purchase.They can grow their business by increasing their share o

93、f a market or category,while making the most of sales opportunities.For example,when shoppers visit the website,they are more likely to buy when they can easily find the product they want to buy,as well as when there are fewer out-of-stock search results.Tools such as recommendations and navigationa

94、l filters help to signpost the most relevant products.The Customer Value ChainRetail businesses that stand out in the Customer Value Chain do so when they add value through a strong customer experience17|RetailX|February 2024RXTUK24RP 2024 Finally,the research reflects the way that retailers success

95、fully foster growth by focusing on the returns from each customer,from each visit and email as well as more widely from marketing spend.RetailXs ConsumerX research suggests that low prices are very important for 49%of shoppers when deciding where to buy,while product availability(66%),retailer relia

96、bility(62%)and preferred payment options(49%)also play a part.Findings from RetailX research here are organised through the following three questions:HOW DO TOP500 RETAILERS,BRANDS AND MARKETPLACES HELP SHOPPERS NAVIGATE THEIR WEBSITES?When shoppers visit a retail website,the first step is to find p

97、roducts that interest them.To do this,they can use both search looking for a specific product or brand name and navigational filters.Most Top500 websites +1pp(percentage point)to 90%have dropdown search suggestions on their desktop websites while 83%(+1pp)have this functionality on mobile.24%have in

98、finite scroll a figure thats down by one percentage point from last year.There have been improvements in the management of search results.When a search is made for which there are no products,only 26%now show a blank no results page.The remainder show alternative content,potentially including sugges

99、tions of alternative products,which enables the retailer to reduce lost selling opportunities.RetailX research finds that shoppers visiting Top500 websites are most likely to be able to filter their search by product type(+2pp to 95%).More than three-quarters(+2pp to 76%)support filter search by pri

100、ce,while 63%enable shoppers to filter by brand.Thats up by 4pp from 59%last year.When it comes to mobile,99%of the 479 assessed on this metric both this year and last have a hamburger button on their mobile websites,a figure unchanged from last year.UK TOP500 2024|CUSTOMERLeaders in the Customer Val

101、ue ChainAMAZONDUNE LONDONFREE PEOPLEGO OUTDOORSIKEAJIMMY CHOOLEVISLOVEHONEYLULULEMONMARKS&SPENCERNEXTTHE PERFUME SHOPPRADARAPHASCHUHSCREWFIXSEASALT CORNWALLSOLE TRADERUNDER ARMOURUNIQLOURBAN OUTFITTERSVANSVICTORIA PLUMWAREHOUSEWICKESHOW DO TOP500 RETAILERS AND BRANDS USE IMAGES IN THE CUSTOMER EXPER

102、IENCE?Images help shoppers to see before they buy something thats especially important when consumers are browsing through a screen,rather than instore.A choice of images can enable shoppers to see products from a variety of angles,so 78%(+1pp)of Top500 retailers show a product through a choice of i

103、mages.85%(+2pp)of this years Top500 use zoomable images,enabling shoppers to see in detail,while 9%(unchanged on last year)have product videos so that shoppers can see a product in use.For the graphics displayed on the previous page,RetailX research focused on a subset of retailers,brands and market

104、places that have consistently appeared in the Top500 for the last five years.Analysis found an upwards trend in the percentage of websites that offer zoomable images on mobile which rose by 25pp from 61%in 2019 to 86%in February 2024.18|RetailX|February 2024RXTUK24RP 2024 There was an even sharper u

105、pwards trend in the proportion that show more than one image on the product page,which rose by 47pp from 27%in 2019 to 74%in 2024.The number of images that Top500 retail websites show rose slowly but steadily over the same period,from 3.79 in February 2018 to 4.46 in 2024.Nonetheless,still relativel

106、y few(2%unchanged on last year)enable contributors to add an image to their review.HOW DO TOP500 RETAILERS KEEP SHOPPERS INFORMED?Forewarning shoppers how they can pay,take delivery or engage with a retailer helps save wasted time.Most(92%)Top500 retail websites show social links on the landing page

107、,unchanged on last year,while visitors to 75%of sites can subscribe to a newsletter or a marketing list there.Other landing page information includes payment methods(44%).This is useful to know for the 55%of UK shoppers who have used a third-party checkout to pay during the last year,according to Co

108、nsumerX research,with 49%saying they rank a preferred payment option as a very important factor when deciding where to buy.PayPal checkout remains a popular payment option,offered by 33%of Top500 retailers up by 1pp since last year.Facebooks checkout is offered by 11%and Amazon Pay by 8%,both unchan

109、ged on last year.Meanwhile,17%offer one-click ordering,which is the same rate as last year.Almost one in five(17%,+2pp)link to mobile apps from the landing page useful for those who say they always(38%),most of the time(33.5%)UK TOP500 2024|CUSTOMERor sometimes(18%)shop online from their smartphone.

110、Only 2%have live chat.77%show fulfilment options on the product page(for more on fulfilment,see the assessment of the Operations Value Chain).How Go Outdoors adds value to the customer experienceOutdoors and adventure retailer Go Outdoors makes it easy for customers to find the right item for them.I

111、ts mobile-first home page is among the 99%that feature a hamburger navigation button for easier navigation.The retailer flags up discounts clearly and states upfront that UK delivery is free when shoppers spend more than 80.Shoppers can search for their preferred product or brand,or use an array of

112、filters to narrow down their search.Filters range from promotion and star rating to brand,size,colour and even sustainability features whether made of recycled materials,using responsible manufacturing or others.From the landing page,visitors can sign up to marketing updates,see the payment methods

113、that the retailer accepts including PayPal and Klarna,and click through to social media platforms including Facebook,X(formerly Twitter),Instagram and YouTube.Go Outdoors19|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|PRODUCTSelling products at the best price possible is the foundation of reta

114、iling.When it happens at scale,businesses can grow profitably and invest for the future.Offline,shop assistants have long advised customers on which products might best suit them in order to sell both the product that customers are looking at and others that go with it while offering a discount to s

115、weeten the deal.Such sales advice helps retailers sell at a profit and at scale.Online,retail websites can offer advice and recommendations,while sharing insights from other customers,in order to sell at greater scale.In the Product Value Chain,RetailX researchers investigate the tools that retailer

116、s,brands and marketplaces use to show website visitors the most relevant products and sell them profitably.The primary KPI(key performance indicator)in this value chain is net margin,with the importance of selling at scale for a profit reflected in the metrics of volume,access and margin.The conserv

117、e metric reflects how retailers preserve value by reducing waste.Research findings are grouped here through three questions outlined on the following pages:The Product Value ChainRetail businesses stand out in the Product Value Chain when they put a strong focus on selling at a profitRXTUK24RP-BM-4-

118、v13Advice o?eredThe percentage of Top500 retailers recommending similar and complementary products on the product pageand during the checkout processIncluding the results of 300 Top500 retailers measured each year over the past?ve yearsSource:RetailXRetailX 2024Feb 19Aug 19Feb 20Aug 20Feb 21Aug 21Fe

119、b 22Aug 22Feb 23Aug 23Feb 240%20%40%60%80%Similar productsComplementary products20|RetailX|February 2024RXTUK24RP 2024 HOW DO TOP500 RETAILERS,BRANDS AND MARKETPLACES MAKE SURE SHOPPERS SEE AS MUCH OF THEIR RANGE AS POSSIBLE?Flagging up products on banner advertising is the most commonly used tactic

120、 by Top500 retail businesses looking to showcase individual products or product ranges on their websites.In 2024,100%of the 441 retailers assessed on this metric both this year and last took this approach a rise of one percentage point(pp)since last year.Most Top500 websites also showcase discounts

121、through promotions(+1pp to 77%).Recommendations are increasingly used to showcase the range of products on websites.Most Top500 websites also opt to show recommendations for other products on product pages.Most commonly,retailers recommend similar alternatives to the products that a visitor is viewi

122、ng(85%of 488 assessed this year and last unchanged since last year),useful if the product they are viewing is not quite right for them.46%(+1pp)recommend complementary products ones that might go with the product being viewed and 28%(+1pp)show more expensive alternatives.Recommendations help to boos

123、t margin since they make it more likely a retailer will sell a product thats relevant to the customer now,at full price,rather than later,on sale.Shoppers website engagement contributes to Product Value Chain results.The longer a visitor spends on a website,the more likely they are to first see and

124、then potentially buy products.RetailX research finds that in 2024,the average shopper to a Top500 website spends 4min 41s(-16s on last year)there,viewing 6.6 pages per website(-0.3 last time).In 2024,the average Top500 website saw 19.4mn visits in the previous 12 months.Thats 1.2mn fewer than the ye

125、ar before,while the median or halfway point website saw 3.0mn visits,410k fewer than the previous year.When it comes to mobile apps,the average app sees 55.2k downloads a year and 119k visits a day.The median app,however,is downloaded 6,190 times a year and sees 1,460 visits a day.Leading retailers

126、in the Product Value ChainAMARAAPPLEASOSCULT BEAUTYFUTON COMPANYHOTEL CHOCOLATHPIKEAJACK&JONESLOCCITANELAKELANDNEXTOFFICERAPHARICHER SOUNDSSCREWFIXSKATEHUTSUPERDRUGTESCOTHOMANNURBAN OUTFITTERSVANSVICTORIA PLUMWATERSTONESWHISTLESHOW DO TOP500 RETAILERS HELP SHOPPERS TO DECIDE?Once visitors have found

127、 a potential purchase,they must decide if it will meet their needs.One key aspect of this is the ability to check whether an item is in stock instore,and so available to buy or to order for collection.RetailX research finds that 27%of Top500 retailers(unchanged on last year)offer this ability throug

128、h a store stock checker.In 2024,the average retailer has 101 shops,six fewer than 2023.Most(61%)Top500 retailers now share product ratings and slightly more(62%)share reviews both figures unchanged on a year earlier.The graphic on the previous page shows how,among 300 retail businesses assessed on t

129、his metric for each of the last five years,the proportion sharing product reviews is now at a similar rate(65.4%)as it was in 2019(65.9%).But more are sharing product ratings(65.5%)than were five years ago(57.2%).In doing so,retailers reflect shopper demand for information.ConsumerX research finds t

130、hat 58%of shoppers say that reviews are very helpful in deciding whether or not to make a purchase.UK TOP500 2024|PRODUCT21|RetailX|February 2024RXTUK24RP 2024 Offering free delivery with a minimum spend can be useful for shoppers deciding whether and what to buy.51%of 443 retailers assessed on this

131、 metric this year and last take this approach to delivery,a figure unchanged on last year.HOW DO TOP500 RETAILERS REDUCE WASTE BY ENSURING THAT PRODUCTS ARE SUSTAINABLE?Offering a product mending or repair scheme is the most offered of the sustainability actions that RetailX research measures,with 1

132、7%doing so in 2024,a figure that has fallen by 1pp since last year.Less widely offered,despite being potentially easier to offer,is the action of sharing mending and repair instructions.Just 3%do this in 2024 unchanged from last year.In other approaches,8%(-1pp)make their products available to rent

133、rather than buy,13%(unchanged)offer regular updates on their sustainability progress,and 9%(unchanged)maintain an archive of their sustainability progress.How Apple sets out its commitment to product sustainabilityTechnology brand Apple is ranked Elite in the Top500 and is a leader in the Product Va

134、lue Chain in part for its strong record on sustainability.It is among the minority of Top500 retail businesses to offer regular updates on its progress towards sustainability targets and its plan for getting there,as well as maintaining an archive of its previous progress.On its website,it presents

135、what it says is its first carbon-neutral Apple Watch and sets out how it reached that position through a report,a film and interactive graphics showing where it has cut its emissions.On its website,Apple sets out in detail its approach to circular design and what it terms smarter chemistry.The brand

136、 says it has already cut emissions across its value chain by more than 45%since 2015,and is targeting carbon neutrality by 2030,at which point it aims to have reduced emissions to 25%of 2015 levels and offset the balance through nature-based projects.ShutterstockUK TOP500 2024|PRODUCT22|RetailX|Febr

137、uary 2024RXTUK24RP 2024 UK TOP500 2024|OPERATIONSOperational success is about reducing costs while fulfilling orders as efficiently as possible in order to meet customer expectations for fast and convenient delivery,collection and returns.Adding multichannel services such as click and collect and re

138、turn to store can add both efficiency and customer satisfaction.The primary KPI for the Operations Value Chain is profit per order,reflecting the importance of winning more customers in order to cut the cost per sale of retail operations.The RetailX research on which this value chain is based is aro

139、und assessing the ways in which retailers engage with as many shoppers and potential shoppers as possible.Thats both about using stores to raise brand awareness and offering convenient delivery options,whether thats offering collection from a wide variety of points,or delivering as quickly as possib

140、le.ConsumerX research questioned 1,000 UK adults in August 2023,with 969 shopping online,and found that the option for next-day delivery was very important for 26.3%of respondents.Fewer ranked same-day delivery(15.6%)and collection(13%)as very important when deciding whether to buy online.The Operat

141、ions Value ChainRetailers that stand out in the Operations Value Chain do so when they manage both their orders and their fulfilment effectively and profitablyRXTUK24RP-BM-5-v11Free deliveryThe percentage of Top500 retailers o?ering free deliveryIncluding the results of 250 Top500 retailers measured

142、 each year over the past eight yearsSource:RetailXRetailX 2024Feb 16 Aug 16 Feb 17 Aug 17 Feb 18 Aug 18 Feb 19 Aug 19 Feb 20 Aug 20 Feb 21 Aug 21 Feb 22 Aug 22 Feb 23 Aug 23 Feb 240%20%40%60%All ordersOrders over a minimum spendRXTUK24RP-BM-6-v16Premium delivery optionsThe percentage of Top500 retai

143、lers o?ering a serviceIncluding the results of 330 Top500 retailers measured each year over the past eight yearsSource:RetailXRetailX 2024Feb 16 Aug 16 Feb 17 Aug 17 Feb 18 Aug 18 Feb 19 Aug 19 Feb 20 Aug 20 Feb 21 Aug 21 Feb 22 Aug 22 Feb 23 Aug 23 Feb 240%20%40%60%Next-day deliverySame-day deliver

144、y23|RetailX|February 2024RXTUK24RP 2024 Findings in this value chain are grouped through two questions,with results outlined below:HOW DO TOP500 RETAILERS USE COLLECTION TO OFFER CONVENIENT SERVICES TO AS MANY CUSTOMERS AS POSSIBLE?56%of Top500 retailers enable shoppers to collect their online order

145、s instore the same proportion as last year.In doing so,those businesses meet customer expectations shown through ConsumerX research,which suggests 59%of UK online shoppers questioned in August 2023 about their reasons for choosing to buy with a retailer said it was very important or important that t

146、hey support collection from a store.To what scale do retailers offer collection,and how quickly?In 2024,the average Top500 retailer has 101 stores,after closing six since last year.The median or halfway retailer has 21,the same as the previous year.However,these retailers offer collection from far m

147、ore points than that.The average index member offers collection through 1,380 points,down 7%on last year,while the median retailer has 100 collection points,the same as last year.The speed of collection varies widely,with relatively few offering a service that is faster than standard.Next-delivery i

148、s available from 17%one percentage point(pp)higher than a year earlier,while same-day delivery is available from a static 9%.The average time promised from order to collection is 3 days and 12.4 hours in 2024 0.13 hours longer than last year.The median retailer has orders ready to collect in 2 days

149、and 18 hours.That service comes at an average cost of 3.51,which is 6p less than last year.However,the median retailer offers the service for free,the same as last year.Relatively few(2%)have their lockers in their own stores for shoppers to collect orders from.Those that do offer this service stand

150、 out from the crowd.Enabling shoppers to check store level online helps retailers to ensure that shoppers do not make wasted journeys into store or spend time on an Leaders in the Operations Value ChainAMAZONAOAPPLEARGOSBENSONS FOR BEDSCOTSWOLD OUTDOORDUNELMF.HINDSFARFETCHHOME BARGAINSHUGHES ELECTRI

151、CALJACK&JONESJEWSONJIGSAWJOULESNEW LOOKTHE NORTH FACENOVATECHRYMANSAINSBURYSSCREWFIXTESCOTRESPASSZARAorder that cannot be fulfilled.Stock checking can also support collection services and more are adding services in this area.In 2024,47%(+3pp)have a store stock checker from their mobile website,whil

152、e 29%(+2pp)have one on their desktop website.HOW DO RETAILERS USE CONVENIENT DELIVERY AND RETURNS OPTIONS TO MAKE IT MORE LIKELY THAT SHOPPERS WILL BUY?ConsumerX research suggests that most shoppers would like free delivery when they shop online.But making this blanket promise can be an expensive on

153、e that hits profitability.Instead,retailers are moving on from universal free delivery a promise that 17%make in 2024,down by 1pp on last year.Instead,more than half(51%,unchanged on last year)are opting to offer free delivery only when shoppers spend a minimum amount.The graphic on the previous pag

154、e looks back at how 250 Top500 retailers promises on free delivery tracked on these metrics over the last eight years have changed.They show that while the proportion of retailers offering free delivery on UK TOP500 2024|OPERATIONS24|RetailX|February 2024RXTUK24RP 2024 all orders peaked at 18.2%in F

155、ebruary 2018,it has since declined to 13.2%in February 2024.A strategy of offering free delivery only when orders reach a minimum value has gradually risen,from 48.7%in February 2016 to 54.7%in February 2024.Standard delivery now takes slightly longer than last year,at 5.24 days 0.03 days longer tha

156、n last year,on average.The median retailer promises standard delivery within five days,the same as last year.More than half offer next-day delivery(-1pp to 53%),while other delivery options include,in order of availability,Saturday delivery,offered by 26%,the same as last year,Sunday delivery(-1pp t

157、o 13%),and same-day delivery(4%,unchanged).Shoppers are guaranteed to be able to return an unwanted online order for up to 14 days,under UK law.When buying from a Top500 retailer,most will find prepaid returns available(+2pp to 67%),while 66%(unchanged on last year)enable returns by post.More than h

158、alf(-1pp to 58%)support return to store,and 34%(+1pp)will collect a return from the house,while relatively few support returns via drop off at a third-party site.A little more than a quarter(-3pp to 26%)will now refund the original cost of shipping,while 23%(+1pp)offer a recycling scheme for product

159、s.Where theres a fee for returns,the average is 11.50 and the median is 6.Both are unchanged on last year.How jeweller F.Hinds manages its fulfilment strategy Jeweller F.Hinds is a leader in the Operations Value Chain for the way it adds value through its fulfilment promises.Multichannel services,su

160、ch as click and reserve,pay and collect,and instore returns all available from all of its 115 UK stores make for a more convenient service while at the same time reducing the cost of alternative delivery or returns services.Shoppers can see estimated collection dates from the product page and find t

161、heir nearest branch using the F.Hinds store locator.Returns of unwanted items can be made immediately on collection,or for up to 30 days afterwards,either to a store or by post.Economy delivery takes up to four working days.This is free when shoppers spend 25 or more and 2.99 below that amount.Next-

162、day delivery is also available at a premium.ShutterstockUK TOP500 2024|OPERATIONS25|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|CAPITALThe extent to which retailers add value to their businesses is explored in the Capital Value Chain.Adding value is achieved through long-term strategic thinki

163、ng,both in terms of building retail assets such as stores and customer loyalty,and by retailers reflecting shoppers values and the evolving ways in which these consumers want to buy.The primary KPIs for this value chain are return on capital employed(ROCE)or invested(ROCI).This year,the focus of Ret

164、ailX research in this value chain is about how retailers choose to serve their customers,whether through stores,websites or mobile apps,and how they tackle sustainability.The Capital Value Chain Retailers and brands that stand out in the Capital Value Chain do so by growing their profits and assets

165、successfullyLeaders in the Capital Value ChainAOAPPLEAPPLIANCESDIRECTARGOSBODENBOOHOOMANDUNELMFARROW&BALLFITBITGEMPORIAHPHUGO BOSSIKEALIBERTY LONDONMATALANTHE NORTH FACENOVATECHRIVER ISLANDSAMSUNGSCREWFIXTRESPASSUNDER ARMOURUNIQLOWICKESZARAConsumerX research suggests that sustainability is a growing

166、 concern for shoppers.As the goal of achieving zero carbon emissions by 2030 comes closer,its increasingly important for retailers and brands to reflect and share this concern.The metrics that are deployed in this assessment are focused on retailers and brands access to capital,along with how that c

167、apital enables them to add data and capability to their businesses.Retail businesses boost margins by making the most of both their assets and every part of their business from customer engagement and transactions through to the effectiveness and efficiency of the services that they offer.They also

168、bake in the adaptability and flexibility that enables them to respond as customers behaviour changes,while at the same time managing potential risks effectively.RetailX research findings in this value chain are grouped through two questions:WHAT CHOICES DO TOP500 RETAILERS,BRANDS AND MARKETPLACES MA

169、KE ABOUT HOW THEY SELL?The choices that retailers make about whether to sell online,through stores or through mobile apps are the foundation of their business strategies,informing how they are able to serve customers.ShopsOne key strategic choice that retailers make is around whether or not to have

170、shops.The decision will depend on whether the cost of operating stores is balanced by benefits such as brand awareness,face-to-face customer service and having a location to store products and offer multichannel services such as click and collect and instore returns.Those that choose to invest must

171、decide on which operating model to run stores,whether as owned,freestanding stores,as concessions within a larger third-party store,or as franchises that are run by another business on behalf of the brand or retailer.26|RetailX|February 2024RXTUK24RP 2024 RetailX research,covering 481 retailers that

172、 appeared in the Top500 both this year and last,suggests that the average retailer or brand has 101 shops six fewer than last year while the median,or halfway point,retailer has 21 unchanged from last year.A smaller group of 54 retailers was measured on how those stores are organised.The average ret

173、ailer in this group had 2.3 freestanding shops,0.6 concession stores and 11 franchise stores.The median retailer in this smaller group,however,had no shops in any of these categories.OnlineBy definition,the ecommerce and multichannel retailers,brands and marketplaces listed in the RetailX UK Top500

174、have transactional websites.Measures of their success in engaging shoppers include how many visits a website sees,how long visitors stay on the website and how many pages they view on each visit.The average Top500 retail website has seen 19.4mn visits in the last year representing a 1.2mn decline wh

175、ile the median website has seen 3.0mn visits,410k fewer than last year.Visitors spend four minutes(min)and 46 seconds(s)on the average Top500 website,and 4min 14s on the median website.Both of these figures are 16s less than a year earlier.During that time,they visit 6.63 pages(-0.3)on the average T

176、op500 website and six pages(unchanged)on the median website.Mobile appsThe decision to have a mobile app is informed by a balance between the cost of developing an app and the number of users each app receives.The average Top500 mobile app was downloaded 55.2k times(-12.2k)and saw 119k daily users,f

177、ollowing a drop of 173k users since last year.These figures reflect worldwide use of apps and are not UK-specific.The median(halfway point)app was downloaded 6,190 times(-612)and saw 1,460 daily users(-85).How Samsung approaches sustainability issuesSouth Korean electronics brand Samsung,which makes

178、 products ranging from kitchen appliances and home entertainment systems through to mobile phones,stands out in the Capital Value Chain for its transparency around its sustainability policy.In a large sustainability section of its UK website,it shares both current and historic sustainability informa

179、tion and supplier and manufacturer details.A resource centre on its website brings together images,videos and information,illustrating small steps it has taken over the years in areas such as recycling,energy reduction and reducing the amount of microplastics that pass through its washing machines.I

180、t also sets out how its older products can be upcycled turning its mobile phones into smart home devices,for example or recycled for new uses.SamsungHOW DO THE TOP500 APPROACH SUSTAINABILITY?Sustainability is another strategic choice that retailers and brands make,both because they recognise their o

181、wn part in a greener future and because they see the importance of doing so for their customers.ConsumerX research from August 2023 suggests that 67%of 969 shoppers surveyed agreed or strongly agreed that they wanted retailers to be UK TOP500 2024|CAPITAL27|RetailX|February 2024RXTUK24RP 2024 ecolog

182、ically sustainable,while only 6%disagreed or strongly disagreed.But RetailX research suggests that,as yet,only a minority actively focus on sustainability measures.The graphic on the right shows the extent to which 250 Top500 retailers,brands and marketplaces measured both this year and last have ad

183、opted a range of sustainability measuresIt finds that they are most likely to show a supplier code of conduct on their website,with 12.4%doing so.This,however,is significantly down on the 21.8%who did so in 2023.In 2024,9.7%show a recent sustainability report,a historical sustainability reports(6.1%

184、)or have a team dedicated to CSR or sustainability(8.4%).As the graphic shows,three of these measures are lower than in the previous year.Other sustainability measures that RetailX research tracks include whether retailers share their sustainability goals and commitments(-1pp to 17%in 2024),whether

185、they offer a product mending or repair scheme(-1pp to 17%)and whether they offer updates on their sustainability progress (13%,unchanged).The biggest increase is in the number of retailers that take part in the WEEE recycling scheme,which is up by 5pp to 39%among a subset of 54 retailers assessed on

186、 this metric this year and last.This operates under UK regulations for retailers selling certain categories of electrical products.UK TOP500 2024|CAPITAL28|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|ELITE AND LEADINGThe Elite and Leading retailers in this years tenth RetailX Top500 represent

187、 best practice at a time when ecommerce and multichannel performance continues to improve well beyond the standard mapped in the first RetailX report,back in 2014.The shopping patterns that retailers were starting to meet ten years ago are now an everyday reality,with retailers and brands in this ye

188、ars list making it ever easier for their customers to buy in the way that best suits them.However,this year brings an added dimension,with those appearing in the Elite list for the first time doing so for their comprehensive commitment to sustainability as well as for convenient fulfilment options.T

189、HE ELITE Amazon is the only retailer to have featured consistently in the Elite group for the full ten years of this UK Top500 research.Since then,its UK business has changed from pureplay to multichannel retailer,marketplace and brand,while maintaining the convenience that has underpinned its servi

190、ces over the years.It particularly stands out in this years Elite for its performance in mobile,convenient collection and delivery,and for its use of recommendations.Apple has previously featured only once in the Leading category in the UK report,although its international performance has put it amo

191、ng the leaders in the RetailX Europe Top1000.The Elite and Leading retailerstechnology brands commitment to sustainability,married to a convenient fulfilment promise,has taken it into this years Elite group in the UK report.Ikea has also previously stood out in RetailXs European research but it now

192、features in the UK Elite group for the first time,thanks to strong performances across value chains for its comprehensive approach to sustainability and fulfilment options.Homewares and fashion retail brand Next returns to the Elite for the third time in the last decade,while it has also appeared si

193、x times in the Leading group.This year,it stands out across the value chains for reasons including its mobile app performance,its use of navigation and for convenient collection and returns options.Screwfix is also in the Elite for the third time,while it has appeared in the Leading group five times

194、.This year,it is a leader across value chains for its performance across sustainability indicators,for its convenient and fast delivery services,rental schemes and for its use of one-click ordering.Tesco this year makes its sixth appearance in the Elite after being in the Leading group on four previ

195、ous occasions.This year,it stands out for a comprehensive approach to fulfilment,for the use of its mobile app and for its recommendations strategy.LEADING RETAILERSThe Leading retailers in this years report are adapting quickly to meet the needs of shoppers who may have less disposable income to sp

196、end but when they do spend,still expect the convenience to which they have become accustomed.Supermarkets Asda and Sainsburys sit alongside general merchandise retailers and department stores Argos,Marks&Spencer and John Lewis&Partners.Fashion dominates the list,represented by retail brands Asos,Riv

197、er Island,Joules,New Look,Uniqlo,Urban Outfitters and Zara,footwear retailer Schuh,and sports and outdoor fashion retailers JD Sports and The North Face.Homewares retailers Dunelm and Victoria Plum and technology brands HP and Samsung complete this years Leading group.29|RetailX|February 2024RXTUK24

198、RP 2024 UK TOP500 2024|NEW RETAILERSNew to the Top500 in 2024Here we list the 33 retailers that appear in the Top500 list this year but did not last year.These are mostly companies that have been on our radar for years and that this year had footprint indicators(web traffic,revenue,stores)that earne

199、d them a place in the Top500.In a small number of cases,companies are listed this year that were not listed last year either because they were previously in administration,or following changes to our definition of what a retailer is.New retailersTOP50BOOHOOMANFITBITTOP250CANONDJITOP350MUSICMAGPIEROM

200、ANSALOMONTOP500ACE&TATEAMDAUTO DOCBULLIONBYPOSTDEBENHAMSDEPOPDISCOGSHELLOFRESHTHE HUTKWIK FITLGMICROSOFTMPBNVIDIAO2 SHOPPLUMBWORLDRAZERSNAPFISHSONOSSPRINGERSTOCKXTAYLOR&FRANCISUBISOFTVIAGOGOVINTEDWILEY30|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILEAmazons UK website is designed

201、 to make it easy for shoppers to find and take fast delivery of the items they want to buy.Recommendations are centre stage on the website,which has been operating for 25 years and now learns from its customers in order to suggest what they might want to buy next.Jeff Bezos founded Amazon as an onli

202、ne bookseller in 1994 and it launched in the UK in October 1998.Since then,it has grown to become an online department store,while also adding a marketplace and making its own branded products,such as tablet devices and voice assistants.In 2023,more than 100,000 small and medium-sized UK businesses

203、sold through Amazon.In 2024 it is ranked Elite in the RetailX UK Top500 for the 10th time.Amazon adds value to the customer experience though recommendations that help shoppers find products relevant to them.It requires shoppers to register for an Amazon account before checking out,which also enable

204、s it to show shoppers the items that they previously bought or viewed.Prime members can see when the latest episode of something they watched is available.Recommendations are also based on other customers experiences.The website shows trending and unexpected deals,as well as the most popular product

205、s in a range of categories,since it learns from what other people thought.The Amazon Star Store,for example,is billed as “a one-stop shop for highly rated products at great prices”.Customers can use the search box to see dropdown autocompleted suggestions,or navigate the site through 16 key departme

206、nts,including home and kitchen,PC and video games,grocery,fashion and pet supplies.Within each department,filters help shoppers narrow down the range.Filters include items that are available for free or fast delivery informed by the customers postcode as well as sustainable products,star ratings,bra

207、nds and price.Visitors see the best sellers in each category,with image,price and star ratings.On each product page,they see a choice of images alongside product details,star ratings,delivery information and more.They can also read reviews and ratings some illustrated with customers own images as we

208、ll as an AI-generated summary of the reviews main points.Amazon AmazonShare price:Total revenue:Gross profit:,year end 2023Web visits per annum:31|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILEAffordability and sustainable living are at the centre of both Ikeas strategy and its U

209、K website,while the business has invested in its UK fulfilment services over the last year.The homewares giant,this year ranked Elite in the RetailX UK Top500,sources 100%of its UK electricity comes from renewables.It notes that 32%of its 2023 sales were“people and planet positive”.These include 52,

210、380 products sold through its buy back and resell scheme(+187%on 2022).Ikea,founded in lmhult,Sweden in 1943,is now a global retail brand.The first UK Ikea store opened in Warrington in 1987 and there are now 23 across the UK.In the year to August 2023,the global Ikea business turned over 47.6bn,wit

211、h 74%of sales taking place in store,23%online and 3%through services.Online sales grew by 19%in value compared to the previous year.In the UK alone,Ikeas turnover reached 2.46bn +11.9%on the previous year with 38%of its sales taking place online.Visitors to Ikeas UK website can find products through

212、 dropdown search suggestions,or through a navigation that supports browsing by product type or by room,or filtering by size,product type,colour and materials.From the category page,shoppers can add an item directly to a basket or wishlist.On the product page,they can see images,product videos and an

213、 explanation of how an item works.Reviews and ratings by ease of assembly,value for money,quality and appearance are shown.Recommendations of similar and complementary products are shown at each stage.Visitors can add their postcode to see personalised delivery details,such as whether an item is in

214、stock locally and how quickly it can be delivered.Collection from Ikeas UK stores grew by 48%in its last financial year,while it is also working with Tesco to roll out supermarket collections,and with Shift on mobile collection.Ikea has introduced free delivery of small parcels when shoppers spend 6

215、0 or more,as well as premium delivery options and a 365-day returns policy.Shoppers do not have to register to check out and payment methods include Apple Pay and PayPal.Ikea Shutterstock32|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILENext,a company with roots stretching back to

216、 the 1864 founding of J Hepworth&Sons,has reinvented itself throughout its history.It is currently prospering as a multichannel brand,selling its own Next clothing and homewares,both online and through more than 500 stores in the UK and Ireland.It also uses its infrastructure to sell on behalf of th

217、ird-party brands.It is ranked Elite in the RetailX UK Top500 2024.Through its Total Platform business,it now operates a UK multichannel business of brands including Gap,Victorias Secret,Reiss and Joules,taking a financial stake in many of them.Next group turned over 5.1bn in the year to January 2023

218、 and reported a pre-tax profit of 870.4mn.In its results for the half-year to July 2023,the retail business said its strategy was to“retain the best of small-company common sense,speed and decision making,whilst harnessing the best of big company infrastructure and resources”.On its website,Next hig

219、hlights its fulfilment offer,including next-day delivery to home,or free to the store.Shoppers who sign up for its Next Unlimited loyalty club for 22.50 gain 12 months of free next-day delivery.One-hour collection is free and shoppers can use a store stock checker to confirm where the item they want

220、 to buy is located.Shoppers can easily search or browse its website.Dropdown popular search terms help to speed up searches,while inspiration hubs,product and style guides help to inform those who are not yet certain what they want to buy.Searches can be narrowed down within key departments by filte

221、ring for size,colour,brand,length and more,and ordering suggestions by factors including most relevant,most popular and price.On the product page,shoppers can view a choice of images,read product ratings and reviews,see recommendations for other items“you may also like”or which“customers also bought

222、”,and add favourite items to a wishlist.From the home page,they can click through to social networks 3.3mn follow it on Facebook X(Twitter),Instagram,Pinterest and YouTube.Shoppers can also ask questions through live chat.At the checkout shoppers must register to buy,while payment options include Pa

223、yPal and Nexts own finance.Next Nextweb visits per annum:Share price:Total revenue:Gross profit:33|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILEAsda uses its website to highlight value and convenience,emphasising low prices while also flagging up a variety of flexible fulfilment

224、 options.The supermarkets roots go back to the 1920s,when Hindells Dairy Farmers Ltd was formed and the Asquith family opened its first butchers shop in West Yorkshire.They eventually merged and the first Asda shop opened in 1965.Today,the Leeds-based business has more than 600 shops around the UK,i

225、s owned by the Issa brothers and TDR Capital,and is ranked Leading in the RetailX UK Top500 2024.In the year to 31 December 2022,Asda reported adjusted EBITDA(earnings before interest,tax and asset writedowns)of 886mn(-26%on 2021)on turnover of 20.45bn(+0.1%).At the time,co-owner Mohsin Issa said:“W

226、e took a conscious decision to support customers by investing heavily to mitigate the impact of inflation and keep prices as low as possible.Although this contributed to a decline in profitability,it was the right thing to do for our customers and will ultimately help to deliver long-term growth.”Sh

227、oppers arriving on Asdas website can put in their postcode to see the products and delivery and collection options available locally.These include store,locker and petrol station collection,returns via Asdas instore toyou points and a range of delivery options including one-hour delivery,Uber Eats,J

228、ust Eat and Deliveroo.Collection starts at 50p for next day pick-up,subject to a minimum basket size.Site navigation is through dropdown search suggestions and navigational filters that include category,dietary options,pack size and brand.From the category page,shoppers can see product discounts,how

229、 long an item will stay fresh and star ratings.From the product page,they can see ingredients,dietary information and reviews as well as recommendations of what“customers who bought this also bought”.Asda engages with customers through social media platforms including Facebook where it has 2mn follo

230、wers for offers,nanfluencer posts,store colleague profiles and product advice as well as through X(Twitter),Instagram and Pinterest.It also has a range of useful content on its website,such as features on healthy nutrition and advice on how to feed a family on a 25 basket of food.AsdaWeb visits per

231、annum:Asda34|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILEValue for money and the customer experience are strategic priorities for Dunelm.Nick Wilkinson,CEO of the homewares retailer,underlined the point in its latest full-year financial results statement.“We are excited about o

232、ur future growth opportunity and more confident than ever that our commitment to value and tireless focus on improving the experience for our home-loving customers will leave us well-placed to deliver sustainable growth in the future,”he said.That emphasis is reflected on Dunelms website,via a focus

233、 on product value and through discounts.The retailer reported pre-tax profits of 192.7mn(-7.8%on the previous year)on turnover of 1.6bn(+5.5%)in the year to1 July 2023,a year in which 36%of sales were classed as digital.Dunelm,which started life in 1979 as a Leicester market stall selling curtains,n

234、ow offers its customers a multichannel service through and about 180 shops across the UK.It is ranked Leading in RetailX UK Top500 2024 research.Its website reflects its commitment to sustainability.Dunelms Pathway to Zero strategy includes a move to supply Better Cotton-certified materials,its firs

235、t range of Remade products,developed on circular design principles,and“conscious choice”products that make up 15%of its own brand range.Convenient fulfilment options are also flagged up on the Dunelm website from free standard delivery when shoppers spend more than 49 to free same-day click and coll

236、ect in as little as three hours.Returns are free and can be made for up to 28 days after delivery.On the landing page,Dunelm keeps shoppers informed by showing its payment options and by flagging up both its newsletter sign-up and its social media channels.Visitors can click through to five social m

237、edia channels:Instagram,where it has a following of 953k for inspirational product images and messages,Facebook,X(Twitter),Pinterest and YouTube.Shoppers can easily navigate the site using dropdown search suggestions and navigational filters that enable then to set their price range and shop by disc

238、ount,product type,colour,room and brand.They can add items to a wishlist from the category page.Earliest delivery dates and whether a product is available for store collection are shown on the product page,alongside a choice of images,star ratings and a range of similar items that are“recommended fo

239、r you”.Shoppers can choose to checkout as a guest or create an account.Payment methods include PayPal,Apple Pay and Klarna.Dunelm ShutterstockWeb visits per annum:Share price:Total revenue:Gross profit:35|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILEBoden uses imagery throughout

240、 its website to inspire shoppers,both through its own photographs and those of its customers.The emphasis is on quality and on sustainability.Boden was launched as a menswear brand by Johnnie Boden in 1991,before expanding into womenswear and childrens clothing.In its latest financial results,for th

241、e 2022 full year,it reported a 3.1mn loss before tax and exceptional costs down from a profit of 14.9mn a year earlier on turnover of 220.3mn(225.7mn 2021).It said in its full-year statement that sales were weaker in the second half on“deteriorating economic conditions”,while profit margins also dec

242、lined.Its strategy is now to pause IT investment while closing its Kings Road shop.The brand is ranked Top50 in the RetailX UK Top500 2024.Boden has high quality inspirational images on its home page,where it features curated edits of its collection.It draws on Instagram for a gallery of customer an

243、d model images,while it has 763k followers on Facebook for images and videos showcasing its clothing.Its website also links to X(Twitter),Instagram and Pinterest.Its product pages use images to inform shoppers about each item of clothing.These sit alongside descriptions of how things fit,recommendat

244、ions for how shoppers can“make an outfit of it”,reviews and star ratings.The fashion brand offers standard delivery in up to three working days for 3.95,or for free when shoppers spend at least 50.Theres a premium next working day option,while click and collect costs 3.50 for a next working day serv

245、ice.Returns are free,with customers creating their own label online.They have up to 90 days to return an item if they have changed their mind,or 365 days to return anything that doesnt meet quality standards.An emphasis on quality underpins Bodens sustainability promises,listed under the tag line“bu

246、y better,buy less,wear more”.The brand,which says in financial results is now carbon neutral on its scope 1 and 2 emissions,sets out online its promises on quality,reducing its footprint and its sustainability mission.It has a scheme where customers can earn shopping credit by returning worn clothin

247、g for donation or resale.Boden Boden 36|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILERicher Sounds promises customers the expertise needed to buy the right hi-fi,home cinema and flat screen TVs,while customer loyalty is rewarded through its free VIP club.When he was 19,Julian Ri

248、cher founded Richer Sounds in London in 1978.In 2019,he sold 60%of his shares to its employee ownership trust,passing with them control of the business.The retailer now sells online,through 51 UK shops,through telesales and B2B departments,and is ranked Top100 in the RetailX UK Top500 2024.It promis

249、es a high level of expertise across its channels its teams,its website claims,are all“audio-visual enthusiasts and experts”who are“united by a passion for music and movies”.Its website features detailed product explanations and advice videos recorded by store staff.A“stay in the know”section include

250、s FAQs,a jargon buster,brochures to download and an explanation of different types of TV.Customers can go straight to the product they are looking for by putting a product name or number into the search box,or browse the full range using navigational filters that include brand,size and technical det

251、ails.On the product page,there is a choice of zoomable product images alongside detailed information,specifications and Trustpilot reviews and ratings.Recommendations include“similar deals to this one”.Fulfilment options include free delivery“to most of the UK”in up to six working days for orders wo

252、rth more than 50.Free next working day collection from a store is available when shoppers order before 5.30pm.Premium options include next working day and nominated-day.Unwanted items can be returned for a refund or exchange within 30 days of purchase for free.Shoppers can join the VIP club for ince

253、ntives including 10 off their first order worth more than 100,six-year guarantees,member-only prices and the chance to win prizes.At the checkout,payment options include PayPal and Klarna,while there are complementary recommendations of items“we think youll also like”.On its home page,Richer Sounds

254、links to five social media channels:Instagram,X(Twitter),Facebook,YouTube and TikTok.Its X account has 25.5k followers for posts that include product promotion and film reviews.Richer Sounds Richer Sounds37|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|COMPANY PROFILEVery has focused on the cus

255、tomer experience and in technology investment in what chief executive Lionel Descle has described as a“challenging”market.Recent upgrades range from AI-powered product discovery on its mobile apps and website to virtual make-up try ons.These build on existing infrastructure that includes its automat

256、ed Skygate distribution centre.Very,ranked Top100 in the RetailX UK Top500 2024,is the flagship brand of the 2.15bn-turnover Very Group.Very alone turned over 1.8bn in the year to 1 July 2023.The online department store is a digital native brand from a company whose roots go back to 1861 and that fi

257、rst prospered in mail order catalogue era.Customers can explore the Very website through dropdown search suggestions or navigate its departments mens,womens and childrens clothing to toys,homewares and beauty products.Navigational filters help shoppers to narrow down the range and Very has as lot of

258、 these,from brand and price to sleeve length or display size.From the category page,shoppers can add a product to their favourites list and see its star rating,stock status and an image.On the product page,they can see a choice of images,whether theres a discount and delivery options,including free

259、standard delivery when they spend at least 30.Premium delivery options include next-day and nominated-day,while collection is available through a Yodel network store or a Post Office branch.Returns are free within 28 days via store drop-off.Very appears to be working to reduce returns by showing on

260、its product page whether an item is true to size.The size and fit are also described in detail,as are materials and care instructions.Recommendations are presented throughout the customer journey,from the product page to the checkout.From the product page,shoppers can also save an item for later or

261、share it via X(Twitter),Facebook,Pinterest,Google+or email.Visitors can click through from the landing page to Instagram,Pinterest,X,YouTube and Facebook where it has an 877k following for deals,product inspiration,live shopping events and videos.Shoppers must be registered to checkout and can pay v

262、ia bank card or Verys own payment and credit options.Very Very38|RetailX|February 2024RXTUK24RP 2024 39|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|PARTNER PERSPECTIVEIt wasnt so long ago that catalogues ruled home shopping,bricks-and-mortar stores ruled the high street and shopping centres w

263、ere the place to be.Then along came the digital transformation,rapidly progressing from dial-up internet and chat rooms to Amazon,Google,social media and the metaverse.And now?Your consumers are searching TikTok for recommendations,comparing reviews on Amazon,purchasing on your ecommerce site and re

264、turning the product to your stores.Its an omnichannel world and while its clear that nobody can predict the future,we can at least point to a few trends:1.Transparent supply chains for compliance and meeting customer needs In the wake of growing global awareness of social and environmental issues,co

265、nsumers are increasingly conscious of where and how the products they buy are sourced and manufactured.Providing some transparency builds trust and can be a powerful differentiator for brands.Transparent supply chains are also poised to become more of a requirement in the coming years,at least for r

266、etailers operating in the EU.The European Digital Product Passport Looking towards an omnichannel futureExpert insight(DPP)initiative comes under the European Green Deal and aims to gather data on a product and its supply chain to share across the entire value chain so that manufacturers,repairers a

267、nd consumers all better understand environmental impacts.2.Consistent experiences across touchpoints to drive awareness,trust and sales The omnichannel experience has long been an ambitious goal for retailers,but as new channels and touchpoints emerge,we expect consumer demand for seamless experienc

268、es across digital,social,and physical channels to be higher than ever before.Its the retailers responsibility to ensure that the customer can find the information they need to make a decision regardless of where theyre interacting with your company.3.Productivity transformed with AI While enthusiast

269、s can over-promise the power of AI as they paint it as a magic solution,AIs impact on the retail industry is becoming increasingly tangible as it presents concrete opportunities for efficiency and optimisation within organisations.From generating,enriching and localising product content to automatin

270、g data collection and cleansing,AI streamlines processes that would otherwise be time-consuming and error-prone.This technology can enhance overall operational efficiency,enabling employees to focus on high-value work.Preparing for tomorrow,today The retail industry is providing customers with omnic

271、hannel shopping experiences that are personalised,convenient and efficient and thats exciting.The big caveat is that your product information must be optimised,accurate,and up-to-date before you can take full advantage of these advancements.Akeneo is the product experience(PX)company and global lead

272、er in Product Information Management(PIM),enabling organisations to build and deliver world-class product experiences across every customer touchpoint.Akeneos intelligent Product Cloud accelerates growth,reduces time-to-market and gives organisations a competitive edge when converting browsers into

273、buyers.Leading brands such as Kurt Geiger,The Very Group,and Dunelm trust Akeneo to activate product experiences across all channels that drive an improved customer journey from discovery to purchase resulting in increased sales,reduced returns,faster time-to-market and increased team productivity.F

274、or more information,Angus Hayman,Senior PXM Strategist,Akeneo,sets out three retail industry trends to watchWhether its meeting the demands for transparent supply chains,delivering consistent experiences across diverse touchpoints,or harnessing the power of AI,having a single,reliable source of trut

275、h for product information acts as the foundation.Taking control of your product information in a centralised product data hub enables you to efficiently create and deliver unparalleled customer experiences to drive your profitable growth.40|RetailX|February 2024RXTUK24RP 2024 International tax compl

276、iance shouldnt turn borders into barriersExpanding your business into new markets is exciting,and can be hugely rewarding.But your growing compliance obligations can become a burden,especially if youre not a tax expert.The good news is you dont have to be.From determining where you have nexus and de

277、mystifying U.S.sales tax,to preparing VAT returns and complying with e-invoicing mandates,Avalara can:Reduce tax compliance risk Lightning-fast calculation Ease of integration Smoother customs clearance Simplify manual tasks Delight your customerDoing tax manually in a digital world?Theres a better

278、way.To find out more,visit 41|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|PARTNER PERSPECTIVEThe positives:apparel,ecommerce,specialty retail and recommerce are expected to perform well in 2024 as inflation subsides and inventory pressures recede.The negatives:challenges such as bankruptcies,

279、high rents,lingering inflation,wage hikes,staff shortages and retail shrinkage will persist.The aftermath of Brexit continues to weigh on UK businesses,with 73%reporting reduced profitability.In 2024,agility,digitalisation and a robust omnichannel strategy will be indispensable across all retail sec

280、tors.And,like many industries,retail is leveraging technology to stay competitive and tackle ongoing challenges.Unlock growth with cross-border trade Brexit is one of the biggest challenges affecting the bottom line for UK businesses.According to a recent Avalara survey,leaving the European Union(EU

281、)generated additional costs for UK businesses,Preparing your retail business for 2024Expert insightaveraging 96,281 since 2020.Thousands of UK businesses are reeling from the customs and tax obligations imposed on trade across Europe.At a time when the UK economy needs to repair itself,encouraging b

282、usiness growth and expansion is key.Unlocking cross-border trade should be central to this.With only 18%of British businesses reporting no impact from Brexit,its no surprise that three-quarters of business leaders believe Brexit created more stress.Turning to technology Brexit has forced almost half

283、(43%)of UK businesses to invest in technology to improve their operations.Technology can simplify cross-border sales by automating tariff code classifications,customs duty and import tax calculations,and much more.More retailers are also likely to adopt technologies such as AI in order to streamline

284、 operations in a variety of ways,including:Anticipating demand Assessing the success of marketing and promotional activities Consolidating data from multiple sources Identifying experience retail trends,such as those,for example,that erupted around the Barbie movie or Taylor Swifts Eras tour Forecas

285、ting the supply chain Reducing operational costs Responding to customer questions and concerns Automating markdowns and clearance processesAvalara helps businesses of all sizes simplify tax compliance via its automated cloud-based solutions.Its global team of tax experts automate and simplify the co

286、mplicated and boring tasks that pull staff away from the exciting parts of their businesses.Each year,it process billions of indirect tax transactions,files thousands of tax returns and manages millions of exemption certificates.Avalara can help businesses adapt to new rules and requirements as they

287、 grow,allowing them to hit the ground running in new markets without getting bogged down by tax compliance These are the best of times and the worst of times for UK retailers,says Alex Baulf,vice president of global indirect tax and e-invoicing at Avalara Providing personalised product recommendatio

288、nsThe right technology can help UK retailers grow and overcome industry challenges in 2024,while at the same time maintaining compliance,saving time,lowering costs and increasing revenue.42|RetailX|February 2024RXTUK24RP 2024 B&B Hotels implemented imaginos Customer Data Platform across their four m

289、ajor geographies in just 16 weeks.imagino is the Revenue-First,Composable Experience PlatformScan for more!For marketers who think big,but need to act fast.43|RetailX|February 2024RXTUK24RP 2024 consumer behaviour insights,ensuring efficient processes and intentional positioning for retailers to nav

290、igate the demands of convenience and cost-effectiveness.In conclusion,retailers,the dance floor awaits.Balancing sustainability,convenience and affordability forms a challenging routine,yet mastering them will position your brand as a standout.In a world of convenience,its all about accessing everyt

291、hing you need and nothing that you dont.UK TOP500 2024|PARTNER PERSPECTIVEConvenience has turned the world on its head,weve built a whole society around it.From streaming services to home food delivery to ecommerce,weve brought convenience to our doorsteps.Any retail brand that is not asking themsel

292、ves whether their brand is convenient enough for their customers,may find themselves playing catch-up in this environment.If you really think about it,convenience benefits the buyer,the seller and the customer.With only a few clicks standing in the way between a craving and the pleasure of a delight

293、ful home delivery experience,you begin to realise how impactful convenience has become to the revenue of the modern ecommerce world.To create a convenient experience that is expected from modern shoppers,its time to put yourself in your customers shoes and find out what areas along the retail journe

294、y needs ironing out.As time has moved on from the global health crisis,consumers seek both the seamless and comforting embrace of convenience and affordability.Think of it as a dance choreography,where every move needs Balancing convenience and cost Expert insightto be well-coordinated,be it on the

295、digital stage,in the physical store,or the realm of social media and diverse devices.Its a dance that not only requires speed but sustainability as its partner.To align with consumer desires,retailers and brands need to evolve,rather than just adapt.Imagine it as transitioning from a graceful waltz

296、to a swift salsa agile,energetic,and extremely spirited.Firstly,incorporating sustainability into the retail fabric is non-negotiable.Your customers arent just focused on the prices;theyre also examining the eco footprint of each purchase.So,retailers,its time to translate those green aspirations in

297、to actions.Sustainable packaging,ethical sourcing make them actionable throughout your customers journey.Secondly,the constant discussion between convenience and cost is like choosing between two different dance styles.Why not choose both?Smart retailers are using technology to simplify the shopping

298、 experience without breaking the bank.Efficient supply chains,user-friendly interfaces and the support of AI can transform the customer journey into a seamless,convenient and cost-effective experience.For the brands that are stepping out into the ecommerce or multichannel retailing realm,the future

299、resembles an inviting dance.The floor is expanding,and retailers need to excel at blending online and offline experiences.Embracing the digital space is crucial,but dont overlook the importance of the physical store they are like the perfect duet in retail.Looking ahead,the rhythm of progress wont f

300、ade.Ecommerce will evolve and multi-channel retailing will refine its approach.To navigate these challenges and maintain a harmonious retail dance,leveraging effective marketing tools becomes vital.An integrated marketing tool drives personalised engagements through imagino is a revenue-first,Compos

301、able Experience Platform.We are disrupting the status quo.As a Composable Experience Platform,we give brands and marketers the agility and flexibility to weave the tools and services they need into one powerful hub to deliver marketing excellence.imagino is the thread that ties together the whole ma

302、rketing infrastructure.Our products integrate seamlessly with each other,of course!But they also integrate with the rest of your marketing stack to maximise the value of your existing investment.We offer a host of market-leading products,including a Customer Data Platform and Campaign Management too

303、l all uniquely designed to provide equal value and benefit to both marketing and IT The dance of retail is most effective when it brings online and offline together,says Stphane Dehoche,CEO of imagino44|RetailX|February 2024RXTUK24RP 2024 45|RetailX|February 2024RXTUK24RP 2024 clicking buy its an in

304、tegral part of how a consumer views the purchasing experience.Often,getting it right even determines whether they end up completing a purchase at all.Its great to see so many Stripe users listed on RetailXs Top500 list,including Amazon,River Island and Smyths Toys Superstores.Stripes end-to-end solu

305、tion gives businesses granular control over their customer experience without the time and developer resources required to build,maintain and optimise a best-in-class checkout from scratch.For more information about Stripes optimised checkout suite,contact our sales team.UK TOP500 2024|PARTNER PERSP

306、ECTIVEStripes mission is to increase the GDP of the internet,which we think will have broadly beneficial effects for the world.While this goal might sound sweeping,the most pernicious barriers to economic activity online are surprisingly mundane.To take just one example:even small amounts of frictio

307、n in a checkout flow can result in motivated customers abandoning purchases.Our data shows that 91%of the top 800 ecommerce websites in Europe make at least five basic checkout errors that create unnecessary friction for customers.While no single issue is huge on its own,they add up to revenue death

308、 by a thousand cuts.Businesses would fix these problems on their own,except that a great checkout is a moving target that requires continual updating as consumer preferences change and technology evolves.This is more than most businesses can manage,with the challenge even more pronounced for large,s

309、ophisticated companies whose A better checkout is a better customer experienceExpert insightcheckout complexity compounds with the vast scale of their business.As a result,obvious inefficiencies persist basically everywhere,even when the potential returns for resolving them are so great.In our own a

310、nalysis,we found that users who migrated from an older Stripe integration(the Card Element)to our optimised checkout products saw a 10.5%increase in revenue.Through years of observing merchants on Stripe,weve found there are four basic principles that underlie all great checkouts and improve the ove

311、rall customer experience.y Brevity The checkout flow should be clear,concise and quick to navigate y Personalisation Customers want to make purchases with the payment method that feels most comfortable for them y Responsiveness A responsive checkout automatically resizes based on the most common dev

312、ice screen sizes,especially for smartphones.It also accepts digital wallets including Apple Pay,Google Pay and PayPal which make ordering easier on mobile y Extensibility The underlying infrastructure should support complex revenue models,including subscriptionsThese principles reflect the central r

313、ole a checkout plays in the ecommerce journey.Its much more than the mere act of submitting credit card details and Stripe is a financial infrastructure platform for businesses.Millions of companies from the worlds largest enterprises to the most ambitious startups use Stripe to accept payments,grow

314、 their revenue and accelerate new business opportunities.Headquartered in San Francisco and Dublin,the company aims to increase the GDP of the internet.Meredith Neyrand,product manager at Stripe says that businesses spend vast resources attracting customers,only to lose sales at the checkout the las

315、t stage of the customer journey46|RetailX|February 2024RXTUK24RP 2024 47|RetailX|February 2024RXTUK24RP 2024 service approach not only addresses immediate needs but also helps to establish long-term loyalty.Looking ahead The significance of conversational and generative AI in retail is set to grow.E

316、ach new advancement offers retailers fresh opportunities to personalise the shopping experience,making it more engaging,efficient and human-centric.These technologies have moved from optional add-ons to become the heartbeat of customer engagement strategies.The challenge for retailers now lies in im

317、plementing them in ways that resonate with customers.Success will mean not just immediate benefits in conversions and satisfaction but lasting customer relationships that will go the distance in this ever-evolving sector.UK TOP500 2024|PARTNER PERSPECTIVEIn todays fast-paced retail world,weaving con

318、versational and generative AI technologies into the fabric of operations is nothing short of essential.Its not just about jumping on the tech bandwagon,its about reshaping the shopping experience in order to amp up conversions and foster unparalleled senses of customer satisfaction and loyalty.Innov

319、ating customer interactions with conversational AI Conversational AI has come a long way quickly,from basic chatbots to sophisticated AI assistants capable of real-time,complex interactions.These technologies serve as crucial touchpoints,providing personalised shopping experiences that echo human-li

320、ke responsiveness and understanding.Leading retailers are harnessing AI assistants to guide customers through their purchasing journey,offering consistent,24/7 support across multiple channels,whether its the first chat on the web,a promotional message or a sales interaction on WhatsApp.Driving grow

321、th and loyalty with AIExpert insightAdditionally,customers can start a conversation on one channel before smoothly continuing it on another,keeping the context intact.This not only elevates the shopping experience but also significantly increases conversion rates by delivering assistance alongside a

322、ccurate,tailored recommendations.Transforming product discovery with generative AI Generative AI is revolutionising product discovery by generating hyper-personalised,visually captivating content.By analysing extensive data on customer preferences and trends,it creates product images and description

323、s and summarises reviews that align with each shoppers interests.This customisation exposes customers to products that truly resonate with them,enhancing purchase likelihood and brand loyalty.According to Salesforces Connected Shoppers Report,Fifth Edition,17%of shoppers already tap into generative

324、AI for inspiration in their selections.Retail giants are using generative AI to design dynamic marketing campaigns that adapt to consumer behaviour,making every interaction feel personal and relevant.This not only captures customer attention but also deepens their connection to a brand.Driving custo

325、mer satisfaction and loyalty The fusion of conversational and generative AI extends beyond streamlining operations its the secret sauce in elevating customer satisfaction and loyalty.By offering a shopping experience thats not just efficient but also personalised,retailers are redefining customer en

326、gagement standards.Todays customers seek more than transactional interactions and value helpful,engaging service.AI technologies excel at meeting these expectations,providing solutions and inspiration throughout the shopping journey.This proactive,thoughtful customer Syndeo is a leading provider of

327、conversational AI solutions.Its customers include some of the worlds most iconic brands in retail,financial services and technology.Syndeo Conversational AI platform for the Customer Journey makes it easy for businesses to engage with consumers through AI-powered messaging and advanced chat technolo

328、gy.The Syndeo platform empowers businesses to drive growth and enhance customer experience,generating leads,increasing conversions and providing instant service and support,across multiple digital channels,using intelligent automation blended with live agents.syndeo.cxSandra Judd,Head of Growth at S

329、yndeo,on how retailers and brands are leveraging conversational and generative AI to enhance shopping experiences and boost online sales48|RetailX|February 2024RXTUK24RP 2024 UK TOP500 2024|ABOUT OUR RESEARCHThe RetailX UK Top500 reaches a milestone this year:one full decade of performance-led resea

330、rch into the UKs sophisticated ecommerce and multichannel retail market.The first UK Top500 Footprint report in 2014,followed by the first performance-based UK Top500 report in 2015,were just the start of what is now a wide-ranging research-led exploration of ecommerce and multichannel retailing,acr

331、oss markets and retail categories as well as formats ranging from online to podcasts and webinars,events and now mobile apps.This has built over time,led by our readers,researchers and writers,as well as by commercial support,to follow customer demand and retail provision.Today,our coverage includes

332、 retail performance and country reports as it continues to evolve with the launch of 360 reports,which now bring together market research and retailer analysis.Throughout,our coverage has been led by RetailX research.The graphic(right)offers thought-provoking insights into how,over the last decade,t

333、he make up of the Top500 has changed.Retailers selling other brands products have collectively seen a steady decline in their share of the list,from 43.8%in 2015 to 30.6%in 2024.Over this time,they have ceded ground primarily to brands,which now account for 50.6%of the Top500,up from 43.6%in 2015.Brands membership is declining from a 2022 peak of 55.4%,Exploring a changing retail marketmost likely