For European retailers, 2018 has been tough. However, retailers are resilient, and hopes are high that a more positive outlook is on the horizon. Falling European unemployment, twinned with increased net incomes for most countries are good news for consumers, which in turn should mean more disposable income and increased revenue for retailers. Now, more than ever, retailers need to strike the balance between their physical and online operations to deliver a consistent customer experience across all touch points.
From speaking to some of the world’s leading retailers, I know the scale of the challenges facing these organisations. Tighter margins, increased competition, and a consumer base with increasingly different expectations of how they want to buy, all create new challenges for the retail industry. It’s probably no surprise to anyone to hear that talent is one of the biggest issues in retail right now.