KPMG 2024 Consumer and Retail CEO Outlook

Consumer & Retail CEOs

Countries

USD+ in revenue

Asset management regulation is constantly evolving. KPMG’s Evolving Asset Management Regulation report explores a broad range of regulatory priorities, developments and proposals affecting the asset management industry around the world.

As this year’s report – our 14^th edition – finds, after four years of rapid-fire regulatory development, many regulators are now taking stock and shifting efforts from policymaking to supervision. Embeddedness is being assessed. Compliance is being checked. Guidelines are being published. And rules are being updated and amended to reflect asset managers’ feedback and real-life experience. Asset managers should proactively seize this window of opportunity to build strong foundations for regulatory compliance going forward.

While the pace of new regulation may have slowed slightly, this year’s report identifies several key topics and focus areas that are rapidly changing — often in diverging ways depending on the market and the regulator’s stance.

KPMG 2024 Consumer and Retail CEO Outlook

Consumer and retail CEOs share their views on economic outlook, ESG and generative AI.

2024 CEO Outlook - C&R - Hero image for Prem (untreated) - 1500x1000.jpg

82% of C&R CEOs are confident about their company’s growth prospects but only 59% are optimistic about economic growth which was the lowest of all industries surveyed

In 2024 the top three challenges for C&R CEOs include economic uncertainty (58%), geopolitical complexities (53%), and the adoption of generative AI (48%)

81% of C&R CEOs recognize sales and marketing as a key investment area for Gen AI

63% are confident that they will meet net zero goals by 2030.

48% of our respondents say they are ‘well prepared’ for a cyber attack

What is striking is that, despite a challenging macroeconomic landscape, over 80% of C&R CEOs remain confident about industry and company growth. Gen AI, particularly within sales and marketing, is viewed as a key driver, with C&R leaders seeing it as essential for personalizing experiences, optimizing campaigns, and driving growth. However, our research reveals they are not rushing in blindly. They recognize the ethical considerations of Gen AI and believe regulation is needed to ensure its responsible implementation – a sentiment stronger in C&R than in any other industry surveyed.

In today’s dynamic and unpredictable environment, where geopolitical shifts, economic volatility, and technological advancements like generative AI are reshaping industries, consumer and retail leaders are displaying remarkable resilience. Despite the challenges ahead, the vast majority of CEOs in our sector remain confident in their growth prospects. At KPMG in Cyprus, we are uniquely positioned to help our clients navigate this evolving landscape, whether it's optimising AI-driven strategies, ensuring sustainability goals are met, or fortifying cybersecurity. We are ready to help businesses not only adapt but thrive in this ever-changing world.

Methodology

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