Rising consumer expectations are creating unprecedented demands disrupting traditional retail. CEOs not only must deliver quarterly profit, but also cope with a new reality - "the future ain't what it used to be".
In 2017-2018, global retail shrink was $99.56 billion. Covering 14 countries representing 73% of global GDP and 80% of global retail sales, this research is the authoritative document on worldwide loss prevention trends. This post focuses on my two favorite charts from the entire study.
The rules of retailing "are being rewritten in this time of transformative change. Innovation, integration, and automation will be required to reinvigorate commerce, profoundly impacting the way retailers do business now, and in the future. Global Top 250 retailers, welcome to the disruptive future.
The US retail sector has already adopted a number of new initiatives from the UK: a rise in private label products, ‘free from’, and increased transparency in product marketing to name a few. Kieran tells us about the pledges CEOs are making across the pond to shape the new face of retail.
How great would your workplace be if all your staff had positive attitudes, confidence, determination, and loyalty? What would it be like if they worked with meaningful purpose and provided mutual support for each other in the work place? Sounds like utopia? This is not an impossible achievement.
Thirty years into this business. Consider how we might all put on the ‘blinders’ after spending so long doing something. It’s not unusual to think you have the right answer to almost everything. Success breeds confidence. You just have to make sure that confidence doesn’t get in the way.