FOCUS 2 KPMG: FOCUS ON RETAIL DAVID MCCORQUODALE, Partner W
elcome to the second edition of Focus on Retail, in which we examine some of the key issues affecting the sector today.
Three months have passed since our fi rst edition, and we are already deep into the all important summer period.
The signs continue to look better for the High Street, with hopes of a fully-fl edged economic recovery gathering, albeit at a more cautious rate of growth then we got used to before the recession. The latest KPMG-BRC Retail Sales Monitor showed that total sales were up 2.7% in the year to date. Wage growth is lending a helping hand, but ultimately retailers will be hoping that continued brighter economic news feeds through into consumer confi dence to spend on non-essential big ticket items, as well as the necessities.
The sector is by no means out of the woods yet, and trading remains tough and competitive, particularly in the grocery sector. Some of the major grocers are propping up sales volumes with heavy promotional campaigns, and investors and industry commentators will doubtless be looking to see how these price cuts affect their bottom lines. The battle for market share and share of wallet remains intense in this area.
Outside of grocery things are certainly better than they were, and organisations are beginning to look for new opportunities for growth. We take a detailed look at international expansion and how retailers are approaching their quest for growth in new markets. We ask too how these companies can take their brand into new markets without sacrifi cing the brand itself.
We also continue our exploration of IPOs, that we began in the fi rst edition, with a further look at how those who have come to market have fared.
The internet grows ever bigger for retailers, so we take a look at mobile payment technologies, from bitcoin to new applications designed to bring in the ‘unbanked’.
But mention the internet and cyber-security can’t be far behind. We explore what retailers can do to guard against the ever-present threat of cyber-attack, and look at the learnings from KPMG’s recently conducted ‘technology risk radar’ research.
I hope that you enjoy this publication. We would very much appreciate any feedback that you may have on this series and also suggestions as to areas you may particularly want us to cover going forward.
David McCorquodale UK Head of Retail
© 2014 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved.
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