Conclusion Diversifying revenue is a top priority for retailers. But iterating ideas, using the right tech, and following best practices are critical to success. This study found that: Finding net-new revenue is key to growth. Most retailers (76%) agreed that digital transformation and changing consumer expectations make finding new ways to generate revenue beyond traditional methods essential to success. Testing small is imperative. With so many options, 84% say their organization needs to test initiatives on a small scale before implementing them broadly. Revenue diversification requires modern data solutions and partnerships. All retailers reported at least one challenge to growing revenue. Data solutions can help retail organizations overcome these challenges by providing consumer insights, personalization capabilities, and advanced analytics. Methodology This study was commissioned by Mastercard. To create this profile, Forrester Consulting supplemented this research with custom survey questions asked of B2C strategy decision-makers in the retail industry in the Americas, EMEA, and APAC. The custom survey began and was completed in March 2024. Note: Percentages may not total 100 due to rounding. LEVEL C-level 19% Vice president 37% Director 44% RETAIL TYPE Discretionary 50% Nondiscretionary 38% Other 12% ANNUAL REVENUE (USD) >$5B 15% $1B to $5B 24% $800M to $999M 18% $600M to $799M 22% $400M to $599M 12% $200M to $399M 9% REGION Americas 45% EMEA 33% APAC 22% Demographics INDUSTRY Retail 100% 23 © FORRESTER RESEARCH, INC. ALL RIGHTS RESERVED. © FORRESTER RESEARCH, INC. ALL RIGHTS RESERVED. 22
RkJQdWJsaXNoZXIy MjE3NDkyOQ==