In the vibrant atmosphere of Marketing & Retail Summit of spring, organized by Mark Up e Gdoweekheld in the charming city of Bari, Andrea Petroniosenior partner at Bain & Co. outlined the emerging trends that are redefining the contours of the retail world. His presentation, full of insights and predictions, did not limit itself to exposing the imminent challenges but offered a compass to navigate the turbulent waters of a rapidly evolving sector, emphasizing how theinnovation and the sustainability they will be the pillars on which to build the retail of the future.
In fact, compared to the challenges of past years where, on the one hand, sustainability and on the other, marketing suddenly became “accessories” in a world that was becoming more difficult and which seemed to only want “price”, today, however, the two worlds must permeate any present and future action, strategy and planning. Looking at your business, analyzing your processes is therefore fundamental because if, apparently, nothing has changed, everything must change or has already changed and the strategies of the past are today not only obsolete but also dangerous if they were applied without asking doubts or questions .
Meanwhile, to keep in mind, Petronio reminds us are the socio-demographic and behavioral transformations which profoundly influence retail. Petronius highlighted how theaging of the populationalong with the emergence of Generation Z with its distinctive lifestyles, is pushing the sector towardsmore personalized, inclusive and sustainable offer. The silver economy, with its range of needs and new requirements, should stimulate both the offer and the rethinking of the channels, remembering that the silvers of today and tomorrow do not at all resemble the stereotypes of the past. The increase of demand for natural products, together with the growing sensitivity towards environmental issues, is directing retailers towards greener practices and transparent supply chainsin an attempt to respond not only to the needs of the present, but also to envisage a more sustainable future.
The focus of the discussion then shifted to growing competitive pressure and on the radical changes introduced by digitalisation and new technologies. In this context, Petronius underlined the crucial importance of adopting strategy omnicanale to offer seamless shopping experiences, integrating physical and digital channels into a cohesive retail ecosystem responsive to consumer needs.
A turning point of the presentation was the analysis of Esg revolution, an element that is no longer optional but central to the strategies of retailers aiming for success. Commitment to sustainable practices, corporate social responsibility and ethical governance are proving to be not only morally necessary imperatives, but also distinctive factors capable of generating a significant competitive advantage. Petronio illustrated how the adoption of ESG standards can transform from a challenge to an opportunity, allowing retailers to stand out in the market, improve their brand image and build a deeper relationship of trust with consumers.
In terms of technological innovationthe presentation highlighted how theartificial intelligence, l’automation and the Generative AI are becoming indispensable tools to optimize operations, personalize the offer and improve the customer experience. Petronio provided concrete examples of how these technologies are already generating tangible benefits in terms of operational efficiency, cost reduction and increased sales.
The closing speech touched on the crucial topic of talent in the retail sector. In an era characterized by rapid change and fierce competition for digital skills, it becomes essential for companies not only to attract but also to develop and retain the best talent. Petronio shared innovative visions on how retailers can transform themselves into “talent creators” by investing in training and developmentpromoting a inclusive corporate culture and dynamic, and positioning themselves as employers of choice for new generations.
The cases of Walmart who with his Academy has created a physical and digital learning ecosystem, thanks to virtual retail, to develop skills in the field, prepare participants for “new roles in retail” and build leadership skills for managers, talks about how it is important today not only look “outside” your company but prepare your collaborators for a very near future. Also interesting is the example of Schwarz which co-sponsored an educational campus on Artificial Intelligence where universities, startups and innovation experts can collaborate with the aim of creating a regional hub to facilitate AI learning opportunities, thus promoting innovation. And, of course, developing and directing talent to Schwarz.
In summary, Petronio has charted the course for a sector that is at the same time more innovative, sustainable and humane but to do so companies must have clear and ambitious objectives, raising the bar by looking at the best, taking into account that there is no room for ” excuses”: it is not true that one’s customers, employees, stakeholders are “different”, that Italy is not all the same and therefore innovation is not for everyone, that what is done abroad is impossible in Italy ( more difficult, perhaps, in some respects but not impossible). Furthermore, the need to redesign the way of working, to recover efficiency and make use of automation and digitalisation is imperative: it is not a choice but an obligation. To be able to operate quickly in these directions it is necessary to have fertile ground and so change management and cultural strengthening are essential. A vision summarized by the event hashtag #backtobasics5.0: reviewing the fundamentals with people at the center.
#Retail #trends #innovation #sustainability
– 2024-05-11 03:47:28
