WTW – Global Retail Risk Outlook, 2024

Retailers are facing unprecedented challenges in 2024 due to disruptive forces such as online commerce and AI. As they navigate through this changing landscape, they are also struggling with the role of physical stores and low consumer demand. A survey conducted by WTW with 700 senior decision makers in the retail sector revealed that companies are spreading their resources thinner to keep up with new technologies and competition. Despite the risks in areas such as reputation and cyber security, respondents are positive about their prospects and profitability in the next few years. Most companies plan to maintain physical stores, even if they are currently online-only. The survey was conducted in October-November 2023 with participants from various sectors in countries across Europe, North America, Asia-Pacific, Latin America, the Middle East, and Africa. With 50% of surveyed companies having annual revenue over $1 billion, and the other 50% between $300 million to $1 billion, the survey provides insights into the challenges and opportunities facing the global retail sector.