Ever changing customer demands and buying behaviour, increased competition and a consolidating market are having a profound effect on the retail industry. Similarly, the multiple channels now open to retailers – traditional stores, catalogues, the internet – bring new challenges in the way in which retailers communicate with customers.
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Within the grocery sector, on-shelf availability, store ranging, traceability and targeted promotions are keys issues that are faced. Demands from customers for EDLP and deeper, more competitive promotion activity, such as BOGOF and multi-buy, need to be managed as an integral part of your business, from planning to delivery on the shelf. But they also bring with them opportunities.
In the fashion sector, customers now demand products from the catwalk to the high street quicker than ever before. Furthermore, seasons are becoming ever shorter in response to customers’ expectations to purchase the most fashionable, up-to-date items more frequently. Increased competition, ‘fast fashion’ and the challenges of sourcing products globally are having a profound effect on the fashion retail industry – not to mention shortening seasons and the need to manage budgeting policies, such as OTB.
But these challenges also bring with them opportunities.
The saying that the customer is king has never been more true. Customers are more knowledgeable, better informed and have more choice than ever before. To be successful every retailer must put the customer at the centre of their universe.
Why Morse?
We have a passion for retail that is matched by our experience in delivering business solutions and systems that give real benefits. All our consultants have been retailers, across a range of sectors, so our success in delivery is borne of real world experiences in our unique industry.
