Boyden: Executive Monitor: Consumer and Retail
The consumer and retail industry has been in the spotlight as consumer spending begins to increase since the financial crisis. Boyden’s consumer and retail report finds retail trends such as omi-channel retailing gaining popularity in the industry as more retailers now have online stores.
Although there has been significant focus on the digital frontier, it is important for companies to not overlook their traditional brick-and-mortar space. Brick-and-mortar is expected to account for approximately 85% of retail sales through 2025. Showing customers still value physical interactions. However, in order to create a successful consumer experience, the physical space must work in tandem with the digital strategy.
Recently, there has been a number of significant CEO transitions both from and within the retail, consumer and luxury goods sector. Retailers who wish to give consumers a total experience are increasingly turning to luxury leaders for guidance. For example, Apple hired Burberry’s CEO in 2013 to oversee Apple’s retail and online store.
The full report is published on Boyden’s website. Read the full report.