CONSUMER
As customers lessen their consumption of fast food , they will be on the lookout for healthier alternatives . lock and key . Seventy-three percent are concerned ( moderately to extremely ) that retailers will raise prices to cover the cost of increasing retail theft , and 64 percent are concerned ( moderately to extremely ) with the ability of their local governments to enforce the law .
Recommendations for retailers
• Invest in security technology , including CCTV cameras with facial recognition capabilities and electronic article surveillance systems , as well as RFID for inventory tracking .
• Optimize store layouts and arrange merchandise strategically to improve visibility and deter shoplifting .
• Employ data and predictive analytics tools to identify patterns related to organized retail crime and anticipate potential threats .
• Strengthen cybersecurity protocols to protect sensitive customer and business data .
• Provide comprehensive training for employees on identifying and preventing organized retail crime .
The Ozempic economy has arrived
5 Coresight Research has pointed to greater concern for wellness as a structural consumer trend over a number of years . In 2024 , we expect this shift to be given a boost by the increased adoption of weightloss drugs . GLP-1 weight-loss drugs such as Ozempic can prompt a 20-30 percent average reduction in calorie consumption among users , and this opportunity confronts an estimated 109 million obese US adults – so there are big opportunities for knock-on impacts .
We are seeing a substantial shift in the shopping habits of consumers using weight loss drugs such as Ozempic . For instance , they are consuming fewer carbonated soft drinks , snack foods and fast foods , and less alcohol . They are also smoking less . While this affects retailers selling these products , we are seeing a positive impact from the Ozempic economy on the beauty , wellness and apparel categories .
Recommendations for retailers
• Regularly monitor consumer behavior , stay informed about Ozempic-related developments , and adjust strategies accordingly . At its most basic , companies must review whether the changes resulting from this trend present an opportunity or a threat to their business .
• Create product lines or promotions that resonate with the values and preferences of the demographic that is driving the Ozempic economy .
• Explore collaborations with Ozempicrelated businesses to increase visibility and attract customers .
• Food retailers can offer a range of health-focused products , including diabetic-friendly foods and snacks , to attract customers who are conscious of their diet .
Anand Kumar is an associate director of research at Coresight Research . He covers the global apparel specialty sector , the US e-commerce sector , as well as M & A , IPO and bankruptcy .
1 . Notes and methodology Informing the data in this report are online surveys of US consumers aged 18-plus , conducted by Coresight Research in February 2023 ( 2,000 respondents ), July 2023 ( 406 respondents ), August 2023 ( 447 respondents ) and September 2023 ( 408 respondents ). At a total level , the results have a margin of error of +/ - 5 percent , with a 95 percent confidence interval .
Coresight Research market sizes typically include multiyear projections generated through machine learning models such as Prophet or SARIMA . These models identify correlations between historical data sets and a range of exogenous values , and generate projections based on selected indicators , adjusting for factors such as seasonality and outliers . Experienced sector analysts review and may adjust those automated projections based on qualitative factors and industry knowledge .
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