Despite continuous shifts in industry trends and consumer behavior, retail has always been a race for additional market share in a competitive growing sector. Being bigger, however, is not enough anymore. The ever-expanding reach of the amazons, the alibabas, and the wechats demand a different type of scale and requires companies to rethink their strategies, manage change and transform their operations to achieve profitable growth.
With digital disruption, emerging business models and e-commerce, and increasing customers’ expectations, retailers, and e-tailers alike, need to rely on innovation and analytics to build engaging experiences and lasting relationships with their customers. They need to facilitate and manage interconnected groups and communities of consumers, retailers, and services to win in the new consumer-driven marketplace. Key issues include:
- How to unlock the full potential of data and advanced analytics to build customer loyalty and achieve profitable growth?
- How to meet the increasing expectations of the new generation of tech-savvy consumers and deliver innovation?
- How to make use of augmented reality to provide personalized experiences for customers and transform the whole shopping experience?
- How to understand the customers’ decision-making process and shopping trends and deliver on time?
- How to design and develop effective promotions to increase categories’ margins?
- How to design the retail networks and stores of the future and build value propositions for the retail customers?
- How to optimize product pricing and rethink the broader supply chain?
At Grenoble Partners, we advise clients on how to navigate this increasingly dynamic competitive environment, manage these uncertainties and take a value-focused approach to help them better position themselves for the digital future. Get in touch with our Retail experts.