Zebra Technologies 16th Annual Global Shopper Study - A Report

Recently, Zebra Technologies announced the findings of their 16^th Annual Global Shopper’s Study. Subramaniam Tiruppathi, Director of Sales for India and Sub-Continent, Zebra Technologies presented an overview of Zebra's business and observations in India.

While George Pepes, APAC Vertical Solutions Lead, Healthcare, Retail, Zebra technologies, presented key findings of the 16^th Annual Global Shopper’s Study and Sanjay Nare, Pre-Sales Head, India and Sub Continent, Zebra Technologies.

Subramaniam Tiruppathi, Director of Sales for India and Sub-Continent, Zebra Technologies revealed -

India's Retail sector set for 10-13% growth in 2024 on luxury, value purchases, demand uptick. The India E-Commerce Market size is estimated at USD 112.93 billion in 2024, and is expected to reach
USD 299.01 billion by 2029, growing at a CAGR of 21.5% during the forecast period (2024-2029).
India's GDP growth expected to surpass $4 trillion in 2024-25 and may even escalate to $5 trillion by
2026-27.The Quick Commerce market in India is forecasted to generate a revenue of US$3,349.00m in 2024. By 2028, it is anticipated that the number of users in the Quick Commerce market in India will reach 56.4m users.

According to the study, Shopper's expectations have changed over the period of time. It is mainly driven by technological advances, socioeconomic pressures, and evolving consumer values. 

Some of the facts and figures as follows - Shopper satisfaction climbed as they have options to buy both in store as well as on online retail sites. 54% buyers shop more in stores whereas 59% shop more online. The annual shopper's study also revealed top reasons of why shoppers left a store without actually purchasing the item they came to buy, firstly, item was not in stocks, second, items were not available on the shelf and third, they found a better deal on another store.

In its 16th "Annual Global Shopper" study, Zebra Technologies discovered that in APAC, including India, retailers’ responses stand at 74% and 89%, respectively. According to the National Retail Federation (NRF), retailers faced a loss of $112 billion due to fraud in 2022, up from nearly $94 billion in 2021. The Zebra study suggests that 36% of global retailers (40% in APAC, including India) believe that improved analytics on shrink could significantly boost profitability.

With the expansion of omnichannel shopping, the influx of returns also escalates. Approximately seven out of 10 global and APAC retailers, including those in India, acknowledge the increasing pressure to enhance the efficiency and cost-effectiveness of handling online orders, returns, and fulfillment processes. Six out of 10 retailers plan to upgrade their returns management technology by 2026. Notably, in APAC, including India, the percentage of retailers currently upgrading stands at 74%, marking a 12% increase compared to the global average surveyed.

“Retailers are recognising that technology needs to be smartly employed when dealing with returns,” Subramaniam Thiruppathi, Director of Sales for India and Sub-Continent, Zebra Technologies, said in a statement.

“While consumers have higher expectations to easily return items more frequently, retailers find themselves in a tailspin trying to manage the increased expenses associated with inventory visibility, reverse logistics and a high-level of returns."

Consumers are moving towards digital payments

The surge in digital payment application adoption since 2020 highlights a significant shift in consumer behavior. Solutions like Zebra Pay are well-positioned to meet this evolving trend. In-store preferences for pay-anywhere options nearly doubled from 15% to 26%, while mobile payments escalated from 33% to 50%, and "just walk-out" strategies to bypass long queues doubled from 14% to 30%.

In the APAC region, pay-anywhere preferences surged from 16% to 28%, mobile payments increased from 46% to 58%, and walk-out due to queues climbed from 17% to 33%. Additionally, over 4 in 10 consumers globally opt for self-checkouts, with 75% stating it enhances their overall shopping experience.