The retail industry is experiencing a sea change as new customer behaviors and expectations emerge, and retail channels undergo significant upheaval.
The economic crisis has profoundly changed shoppers’ behavior: buying has become more rational and less impulsive. This behavioral change is not limited to low-income consumers, but affects all segments, limiting ways for retailers to create value.
As both a sales channel and a source of product and price information, the growth of the Internet—especially mobile Internet—is turning consumer habits upside down. Consumers are becoming increasingly digital and opportunistic, as well as less loyal, and at the same time, the Internet and social media are transforming communication. Given this multitude of channels, retailers are struggling to optimize their resources.
Firms within the industry must adapt to changes in the retail channels. How can a company guarantee its presence in the key channels? More important, how can it develop an omni-channel strategy, allowing all the channels to cross-communicate and capturing the customer at each stage of the decision journey?
Beyond these challenges lie excellent growth opportunities. How can retailers identify the new market segments to be targeted in the mature markets? How should they approach the emerging markets? And what formats should they use to conquer these new markets?
In response to these questions, our Retail Practice has developed the capabilities, expertise, and tools needed to support our clients. We assist them in transforming store formats, building omni-channel organizations, deploying lean management techniques, mastering technology, digital marketing, and data analysis, maximizing ROI on marketing initiatives, and seizing new market opportunities.
Our 212 partners— of whom 15 are in France—each specialize in part of the retail value chain or retail subsector. Our Retail Practice is the leading consultancy for the industry in the world. By drawing on our global network of experts and working in partnership with top specialists, we are able to offer our clients the best possible advice and tailored solutions.