Advice from industry leaders.
“Physical retail is not dead, boring retail is dead.” Speaking at a recent Fit for Business breakfast for leading retailers, Retail Doctor Group CEO, Brian Walker said retailers needed to adapt to today’s fast transforming retail landscape. Walker also spoke about experiential shopping being the future of retail and how to lead in the era of Google, Amazon and digitally empowered customers.
Head of Insights, Anastasia Lloyd-Wallis, spoke on the impact of Amazon, both real and expected, and presented research findings from her study on consumer perceptions and behaviour towards the pre and post-launch of Amazon in Australia, sharing insights such as:
- One in three Australians shop on com.au
- One in five customers would consider signing up for Amazon Prime with an additional 32% still deciding
- 97 % of retailers expect their customers to start shopping at Amazon
Keynote speaker Laura Inman, from the Super Retail Group, and one of six female CEOs in the ASX 200, spoke on differentiation in times of opportunity and how retailers should now “focus more on offering transparency, value and brand emotion.” She also discussed the importance of being agile in a changing retail environment and understanding the subconscious personality drivers to underpin coherent strategy.
A panel group with Google retail and utilities industry head, Sean McDonell; Franchise Relationships Institute founder, Greg Nathan; Super Retail Group general manager, Rory Scott and National Retail Association CEO, Dominique Lamb discussed the changing face of retail, with Nathan giving his thought-provoking insights on the need to adapt to the changing retail environment.