Speed of change will leave retailers behind
Categories: Future of Retail
Tags: Javelin Group
"The concerns are partly that this period of major change are happening when there are lots of other macroeconomic issues, that are also making retail a very tough environment. And in the short term the consequence of that is that there are perhaps lots more retailers that can’t survive and fall off the end of their sort of sustainability curve if you like, rather sooner than they otherwise would have done. And they just don’t have the time to adapt. So the need for recognising and responding to change is that much of a shorter time period that it probably raises the bar in terms of how successful you need to be and how fast you need to be successful in the changes that you’re making. So I guess the concern I have is that there will be retailers and brands that might fall by the wayside that actually would still have had a credible position if they’d had a little bit longer to respond. But it’s that speed of response that’s going to place real pressure on retail organisations. And organisations that sometimes won’t be naturally inclined to respond to that change. And again if you think about the senior managers in many retail businesses, they won’t necessarily be very familiar with a lot of the ways that the consumers that they’re trying to sell to are interacting with them."