Retail
Retailers are facing more complex business challenges than ever before with increased economic pressure as well as competitive pressure from newcomers to an already saturated market. Traditional retail models are under fire from differentiators in price, product, and service delivery methods. Purchasing dynamics are being revolutionised and successful companies are learning to survive and thrive in the hostile new economy with intelligent retail strategies supported by high-quality, timely market information.
Understanding retail industry issues
- Global Sourcing & Collaboration between manufacturers and retailers will lead to success (i.e. sharing information, sharing ideas, combined marketing effort)
- Supply chain integrity & management issues - Supply chain efficiencies is the only real competitive advantage
- Future of SA Retailing – how to survive ( Interest rates, electricity supply, downturn in the economy, skills shortage & retention)
- The ethical consumer – understanding the consumer and their sustainability and ethical considerations
- Gaining market share and revenue growth (e.g. Mergers & Acquisitions, Expansion into Africa and other emerging markets, private equity investment, emerging middle class, continued innovation, changing retail formats, internet sales channel, etc.)
