The UK and Indonesia are also anomalies. Both have a much higher ecommerce channel share than other countries in their regions. Digital grocery heavily impacts ecommerce channel share. Countries like China and the UK that have high ecommerce penetration have seen a large percentage of grocery retail shift online. Each marketplace鈥檚 size reflects the region it operates in.
They should also boost their retail media capabilities. As the high prices of shipping and raw materials continue to put pressure on retail margins in Europe, retail media could provide additional revenues. However, retailers should ensure they don鈥檛 overburden their customers with experiences that degrade the shopping journey. Omnichannel retailers will have the edge.
The grand final of this year鈥檚 Eurovision Song Contest will take place in Liverpool, UK, on May 13. Attracting a Super Bowl-sized audience, tourists, and viewing parties, the competition鈥檚 global reach will provide marketers and retailers with a notable opportunity to drive brand awareness and sales.