The era of North American and European dominance of retail sales for apparel is ending. Asia has taken the lead in retail. In 2018, the changing retail industry will continue to be unpredictable, which is now the new normal. The good news is the industry can look forward to solid sustained growth in 2018.

The top 20 per cent retailers globally provide nearly 150 per cent of the economic profit of the world’s retail industry. The largest retailers are forecasted to control an even larger stake in global economic profits in 2018 through their scale and dominance.

Greater personalisation by retailers, both online and in brick and mortar retail, will occur in 2018. Consumer values will be understood by artificial intelligence; AI will then be used to tailor recommendations, engage purchasers, influence and personalise purchasing decisions. In the year ahead more data on each of us will be used to create a purchasing experience custom-tailored to our expectations, likely without our knowledge.

Online platforms will become the consumer's obsession before stepping out of their home to make any purchase. The decisions we make as consumers will be made and will take place on our mobile technology. In 2018, mobile technology will become even more important to consumers for both online and brick-and-mortar retail businesses.