The retail sector is facing unprecedented challenges, with rapid changes in customer buying behaviour and ever-increasing cost complexities. Despite a fiercely competitive market, great opportunity exists for those who dare to innovate and adapt to deliver a seamless customer experience.
Re-imagining and re-engineering retail
CHALLENGES FACING THE RETAIL SECTOR
Fast-changing customer behaviour
The rapid growth of digital has given customers greater choice and opportunity. Their ability to shop online, at any time, across multiple retailers has put ever-increasing pressure on brands. Seamlessly integrating their in-store experience and online presence, while maintaining channel consistency and improving sustainability, is a tall order for retailers but one which they must achieve.
Complexity in the cost base
Increasing complexities in the cost base 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.
Substantial investment in technology and innovation has allowed new, low-cost entrants to leapfrog their more established competitors. This intense competition has left retailers wondering where to invest to get ahead – whether in products, online, new stores, acquisitions or elsewhere.
THE EXPECTATION FOR SUSTAINABILITY
Retailers are facing an increasing demand from consumers, shareholders, industry bodies and even employees to demonstrate transparent, sustainable practices. Companies need to adapt to meet these growing demands while balancing cost pressures and staying true to their core brand. Sustainability is no longer a differentiator; it is necessary to thrive.
Take our 5-minute self-assessment to understand how you are performing today, where you should target your efforts and how best to structure your business to drive the biggest impact for you and your customers.
Our core services for retailers offer you the unique opportunity to ensure your business model focuses on the customers that will deliver the most value and provide you with the best opportunities for growth. We support you by ensuring that your business is the right size and shape, with capabilities that look beyond in-store and online activity, to give your customers what they need within the right cost profile.
Determine what should or should not be included as part of your online presence to meet the needs of your omnichannel customers and how that flows into your operating model and underlying technology features.READ MORE
Making Strategy Happen
Translate your strategy or evolve your business models to enable you to stay relevant to your customers and deliver sustainable growth. Resulting in a meaningful portfolio of change to deliver it quickly, cost-effectively and with the least disruption to your customers.READ MORE
Target Operating Model
Harness the full potential of your people, process, technology and environment to truly differentiate yourselves. The operating model we develop with you will ensure you have the right organisational set-up to deliver your strategy and create real value to your staff, customers and partners.READ MORE
Make the right interventions to help your people, suppliers, partners and customers successfully navigate in this rapidly changing and turbulent environment. Develop and drive culturally aligned and innovative change programmes.READ MORE
We are privileged to be working with some of the UK’s largest and most innovative retailers on their complex change programmes. View our case studies.
Our team of experts regularly shares their insights about the things that matter in the retail sector. You can read some of them here.
MEET SOME OF OUR TEAM