Thanks to the catalyst of technology, consumers continue to gain more power with a growing expectation of having it all. The question facing retailers is what will they need to take control and lead during this disruption era?
Today’s digital consumer is more connected, has more information at their fingertips, and expect companies to react to their demands instantly. Consumers also have an increased desire for more personalised services and are more conscientious and informed about social data and privacy.
The continually evolving sector - focused around digital trends - will continue to pose challenges for global retailers. The near future will see an industry in transition. Those who can afford more control to the consumer will likely be the winners.
Benefitted by high levels of employment, growth in disposable income and strong consumer confidence, retail and FMCG companies are amidst a plethora of opportunities for bold exploration and innovation.
As for the talent market, the necessary skill sets are changing as the workforce becomes more knowledge-centric than ever before. Companies who can harmonise teams and technologies will reap the benefits of an exciting age for the industry.