Over the last few years, we've heard about the disruption that is coming to retail. In reality, we are already disrupted. The new retail world that we have been promised is here. New Zealand retailers are working hard to adapt to a rapidly changing industry, squeezing margins and applying pressure within the organisation to invest in analytics, technology enablement, and to satisfy ever-evolving customer interactions and expectations.
Consumers are more aware than ever. They care how products are made, how they’re delivered, how ethical, how sustainable and how safe they are. These changing expectations and innovations are driving the need for faster and more reliable operational collaborations from the retail sector.
With evolution and transformation impacting every business function in some way, organisations that align and connect this change in a consistent and data-driven way will have the best chance to rewrite the handbook on retailing.
KPMG's view is that retailers should evaluate the need for change across eight key areas.
- Retail Strategy
- Integrated Business Planning
- Customer First
- Store Operations
- Spend Optimisation
- Network Optimisation