Any business will vouch that the retail sector has entered into one of its most disruptive, and equally opportunistic phases yet.
With the rise of modern technology, we are inundated with ways as both the retailer and the customer in which we can get what we need, but all too often these choices fluctuate between success and failure.
So, you might be asking yourself: how can I survive, let alone succeed, when there is so much uncertainty? How can you introduce yourself and adapt to global markets that are undergoing dynamic changes? What cost-effective decisions are you making to ensure your business plan is sustainable over the next three to five years?
You are not alone in thinking this.
Key Retail Leaders have been analysing the disruption hitting our markets, and are looking at strategies to convert what many deem as threats into opportunities.
A recent investigation by The Economist, sponsored by our partner Demandware, highlights what a selection of global C-level retail executives believe are the most impactful and disruptive elements that will change the market over the next three years.
Topping their concerns are:
The Economist’s study has also revealed insightful statistics in regards to competitive differentiation.
60% of those surveyed agreed that high quality, innovative products was the most important factor, followed closely by the belief in developing a seamless customer service experience.
We have been able to discuss with our clients effective future-proofing solutions, ranging from market positioning, risk and security, to business model assessment.
You may want to consider:
As the market of tomorrow approaches, it is crucial that the right product is made accessible with the right systems.
So what are you doing now to attract and engage with the customers of tomorrow? Reach out by clicking here if you'd like to discuss how we can help you do better, now and in the future.
68%* of online shoppers use Click and Collect. This is the perfect example that shows how your traditional Bricks and Mortar stores can co-exist with your online store to maximise each customers...Read More
It’s widely known that good customer service is fundamental for a successful business and imperative to building positive brand reputation, loyalty and trust with consumers. Focus has moved from...Read More
Brands in all sectors are becoming increasingly obsessed with acquiring new customers and tend to slightly forget about the more important strategy, that is, acquiring their existing clients. ...Read More