Challenges facing the retail and consumer business sector
The retail and consumer business sector is facing unprecedented challenges, with technology and demographic trends disrupting the industry as it experiences ever-increasing cost and complexity. Despite a fiercely competitive market, great opportunity exists for those who dare to innovate and adapt their products, services and operating models to deliver value through a seamless customer experience.
Accelerating digital transformation
Digital technology has given customers greater choice and opportunity. Their ability to shop online, at any time, across multiple channels, has put greater pressure on brands to redefine their proposition, products and positioning. Consumers expect a personalised service tailored to their specific preferences.
Purpose over profits
Consumers are placing greater emphasis on companies having a purpose beyond product functionality. Sustainability has long been on the agenda, but the priority now is to go beyond corporate social responsibility and ensure that purpose is embedded into products, services and the consumer experience.
Complexity in the cost base
Increasing complexities in the supply chain coupled with high rent and labour costs are further reducing margins. Retailers are evaluating their ratio of high street stores to online stores, how to automate processes while enhancing current workforce capabilities, and smarter ways to manage inventory to meet changing customer demands.
We are privileged to be working with some of the UK’s largest and most innovative retailers on their complex change programmes. View some of our client stories here.
Optimising integration for two high street retailers
Combining two commercial functions into a single, high-performing team following an acquisition.
Goodbye to paper and Excel
Designing a new operating model better suited to today’s customer buying habits for a luxury retailer.
Launching a new marketing ecosystem
Setting up new ways of working and agency partnerships to amplify the appeal of a consumer health organisation’s brands.
Our team of experts regularly share their insights about the things that matter in the retail sector. You can read some of them here.