Fashion


Retail view


Michael Sharp Chief executive, Debenhams


Malcolm Walker Chief executive, Iceland


Robert Gregory Global research director, Planet Retail


The pace of change in the retail industry is faster than ever before. But what’s driving this change and how is it impacting on the UK’s retail businesses? for the views of six retail experts on the dynamics of the market in 2012 and beyond


What’s the biggest structural change retailers currently face?


Michael Sharp “The impact of mobile and the broader multichannel shopping phenomenon.”


Malcolm Walker “The internet and the general state of the economy.”


Robert Gregory “The shopper is rapidly evolving – looking for convenience, fl exibility, interaction and value. Many store-based retailers are fi nding it hard to keep up.”


FACTS


David Riddiford “The biggest change is customer behaviour. They will determine the need for change.”


Richard Akers “Retailers’ adoption of technology is supporting changing customer behaviour; giving them options on channels and delivery methods.”


Gary Grant “Rebalancing costs. We are living in a diff erent retail environment now.”


Which changes will most impact retail in the next decade?


Sharp “How retailers embrace multichannel and make a physical shopping experience truly entertaining and value added, so stores are as compelling as newer channels.”


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asked


Walker “The same as before – the internet and the general state of the economy.”


Gregory “An ongoing shift from large hypermarkets towards smaller stores – driven by factors such as weaker non-food sales, rising petrol prices, high street vacancies, an ageing population and the popularity of ecommerce.”


Riddiford “There is going to be a restructuring of retail because the need for having as many bricks-and-mortar stores to get national coverage has gone away.”


Akers “The erosion of margin in commodity products will drive both brand and product development by retailers.”


Grant “Property and leases. We are negotiating with landlords on rent and service charge, and the Government on rates, but also have to keep investing in our stores.”


Do high street retailers see the internet as an opportunity, or a threat to their business models?


Sharp “There are very few that still see it as a threat. The reality of life is that’s the way shopping is going and you have to see it as an opportunity.”


Walker “Both – it depends who you are.”


The retail view


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