- How is retail evolving, and what does the future hold?
- What are the most pivotal industry trends?
- How do key players need to adapt in order to stay relevant in the future retail market?
About the Podcast
We interviewed Key Account Manager Retail Sales at Canon Deutchland, Mr. Dennis Shuelke, in order to gather the latest insights into the retail industry. Listen to our audio exclusive here.
About Mr. Shuelke
Mr. Shuelke, a graduated MBA, is an expert in marketing and sales management in consumer electronics. He loves to engage the channel partners to think continuously out of the box.
How is retail evolving, and what does the future hold?
Retail environment is currently at the edge facing tremendous changes. Both, industry and shoppers expect a higher level of service, be it based on the consultative talks to personnel in-store or related to shortened supply chains, having i.e. amazons’ Prime-Delivery in mind. Along with those aspects some retailers currently face issues concerning as their very own succession planning becomes urgent.
For most sectors my hypothesis is, that ‚specialised trade’ will come back.
Beside this, a singular consumption of retail goods without the expectations of deeper excitement, engagement or product consultancy will be fulfilled by the broadest chains or biggest trading partners, such as Amazon.
What are the most pivotal industry trends?
For sure it is digitalisation in its various shades.
Industry must fit future expectations of both, the costumers and their consumers/shoppers.
A key driver may be the final virtualisation of warehousing/stocks, securing on the one hand a JiT (“Just In Time” delivery by even more lowering stock levels on the other as this only ties capital.
How do key players need to adapt in order to stay relevant in the future retail market?
Key players must become more flexible and somehow vital to trends, allowing fast reactions to meet vast expectations.
This can be related to products but it will definitely be related to processes i.e. SLA agreements and to handle those.
Beside that, industry brands must become relevant (again) to their target groups and need to address the right target group in the right way; even if i.e. avoidance of generic marketing/collaterals may be the result.
An in-depth analysis of target groups matched to sales & marketing strategies and alignment of differentiated aspects, which are obvious, are promised to be the keys to success.