I think we’re living in unique times on both sides of the Atlantic, with political and economic change to varying degrees, and it’s something retailers are now talking about.
Speaking at World Retail Congress (WRC) 2017, the event’s founder and chairman explained why brands need to make their voices heard at a governmental level, and spoke about the rise of the empowered consumer and how to future-proof your board.
1. McGarrigle believes that retailers need to respond to today’s unstable political climate and make their voices heard by governments.
2. One of the major changes the chairman has seen over the past decade has been the shift in agency from retailer to consumer.
3. Brands are querying the viability of physical expansion at a time when their businesses are increasingly co-opted by e-commerce.
4. Old-world retail was focused on buying and merchandising, whereas today’s brands need to think about customer-centricity and data.
5. Getting the talent mix right at board level is key to making brands resilient enough to withstand today’s technological upheavals.