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Impact of the Decision To Leave the EU

Impact of the Decision To Leave the EU

It is now clear that the British people have made the choice to leave the European Union. The countr...


Retailers Adjusting their Offering in Response to Consumer Demands

A shift in power from the retailer to the consumer is becoming increasingly more evident. Instant access to information on products, competitor pricing and availability has given the consumer real choices and decision making capability, both in their own home and at point of sale.

According to Cecile Riverain of the IGD, in an era of transparency, the retail business model is under scrutiny like never before and the big challenge to retailers is who can become the “trust leader”. In response, right across Europe, retailers are focusing on capturing consumer trust, and the reward of repeat purchase, by building up their capabilities in the following areas.

  • Price Transparency – consumers are shopping for ‘value’ assisted by digital technologies.
  • Building transparent and sustainable supply chains
  • Building an emotional connection to consumers – being more human/personable in their communications
  • Seeking to be ‘unique’ in their product/service offering to consumers e.g. design your own pack
  • Making it easier for consumers to plan, shop and live e.g. by speeding up the shopping process
  • Adding fun, excitement and urgency to shopping e.g. 3-D QR codes
  • Low cost “super active” local media “buzz” creation zoning in on issues of importance in localities/regions/countries
  • Re-shaping stores – tailoring stores to local demographic needs and making them highly “digitally connected”
  • New store formats – on-line shopping for home delivery or drive-through pickup shopping
  • “Greening” of stores – seeking the ‘halo’ effect of putting in place fully sustainable and environmentally friendly product sourcing with full traceability.

Source: BordBia - Retailers Adjusting their Offering in Response to Consumer Demands