Technology continues to change the face of retail – How can this be done profitably?
With the rise of smartphones and tablets, the retail landscape has changed dramatically.
We know customers like to shop across multiple channels and with retailers offering a multitude of options, shoppers are able to chop and change how and when they do their shopping. We know customers are becoming less loyal and this is putting increased focus on retailers to ensure their channels offer the best quality products as well as ease of shop, be in it in store or online.
Not only does technology mean that customers can shop when and where they want, but for the first time, customers are able to communicate with other customers. Services and products alike are scrutinised and rated and this has only fuelled the price war between retailers. With a simple click of a button customers are able to compare prices and promotions across a range of stores. Suddenly stores are not only competing with the high street but also online based retailers. This is great news for customers who now have the power to ensure they are getting the best value for money, with the ability to do this all on their work commute.
Our core client base at The Consultancy Group includes Finance Directors and CFO’s from some of the most established High Street Retailers in the UK as well as a number of fast-growth online retail operations. These experienced finance leaders are now challenged daily with the dilemma of not only how to attract customers but how to retain them whilst ensuring significant return of investment.
Most importantly – how can they ensure this is done profitably? They are therefore faced with the following challenges on a daily basis, many of which they have not encountered before.
- The blockers that impede sales and multichannel growth
- Digital transformation in a legacy technology world
- Organisational design: How to organise around the customer rather than around channels
- Customer service
- CRM and customer engagement
- The role of the store
The consultancy group is delighted to confirm we will be expanding the above discussion at a networking breakfast on April 22nd. This will be attended by Finance Directors, CFO’s and CEO’s from many of the country’s leading retail institutions. The event will be hosted by Martin Newman who is widely considered a thought leader in e-commerce and multichannel retail, and CEO of one of the fastest growing Global e-commerce & multi-channel retail consultancies.
If this is of interest, please email email@example.com
Technology continues to change the face of retail.