全球零售力量2019年
The global economy is currently at a turning point. Until early 2018, there had been a confluence
of positive events including relatively strong global economic growth, low inflation, low borrowing
costs, easy monetary policy in major markets, recovery in troubled emerging markets, and
rising asset prices. Yet something changed in 2018. Growth decelerated in Europe, China, and
Japan; inflation accelerated in major markets; borrowing costs increased as major governments
embarked on a shift in monetary and fiscal policies; global equity and commodity prices
fell; and major emerging markets experienced significant currency depreciation. The shift in
the global economy was, in part, brought on by a change in policy in the United States (US).
There, a combination of easier fiscal policy, tighter monetary policy, and restrictive trade policy
contributed to a change in the direction of the global economy. For retailers, this change will
mean slower consumer spending growth, higher consumer prices, and disrupted global supply
chains. In what follows, we will examine how the global economy is likely to unfold, and the
potential implications this will have on the retailing industry.