World Retail Congress 2025: Why trust is retail’s strongest currency

UK – The first day of World Retail Congress 2025 in London revolved around the theme Faster, Bolder, Smarter. Opening the day, Ken Murphy, CEO of multinational supermarket chain Tesco, set the tone by stating: ‘In an age of uncertainty, discord and division, trust carries a higher currency than ever.’ His keynote address placed human needs at the centre, emphasising that brand trust will be the most valuable asset for retailers navigating the next economic cycle.

Simon Pakenham-Walsh, chief information officer of multichannel retailer River Island, shared how radio frequency identification (RFID) technology has helped the brand achieve 98–99% stock accuracy. In a standout session on connected retail experiences, he highlighted the roll-out of RFID-enabled smart fitting rooms – now live in 30 River Island stores – which offer shoppers tailored, in-the-moment advice. This elevated touchpoint enhances the consumer’s emotional journey, echoing themes we explored in our EQ-Commerce macrotrend.

Retail growth was a central theme in a panel featuring Stefan Vanoverbeke, retail markets manager at Ikea. He discussed the brand’s new city format strategy, highlighting the recent opening of a concept store on London’s Oxford Street. Vanoverbeke emphasised that every touchpoint is designed with customer-centricity in mind. This aligns with insights from our Modular Retail report, which explored how flexible, modular store formats can help retailers stay agile in the face of rapidly shifting consumer expectations.

Elsewhere, the growing power of the Meno-economy was brought to light by Heather Jackson, co-founder of GenM, a menopause partner for brands. The brand has created the MTick, a universal symbol for menopause-friendly products, delivering choice, trust and visibility to the underserved menopausal consumer. As we explored in our Menopause Travel microtrend report, the global menopause market is experiencing significant growth and is predicted to increase from £14.5bn ($18.6bn, €17.2bn) in 2025 to £21.6bn ($27.6bn, €25.4bn) in 2033, at an average annual rate of 5.1% (source: Global Newswire). Jackson highlighted how this market is underserved, saying: ‘This is about legacy-building, category-making and giving women the power to search, source and shop with confidence.’