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Retailer Trends from Retail World Conference

Some interesting speakers at this week’s Retail World conference held at the Melbourne Convention Centre.
A few key themes emerged….

Data – a number of the larger retailers said they were doing lots with data. Undertaking smart analytics based on linking customer information with transactions was key in driving value through their loyalty programs. Certainly more prominent in the US and UK than in Australia (other than a few big retailers here who are on the journey)

Multi Channel Retailing – we are way behind in Australia. How most retailers here view online - both as a sales channel and a two way communication medium – doesn’t stack up. Inspirational talk from Crate and Barrel founder Gordon Segal indicated that over 25% of their sales were now online (or via direct marketing as he called it). Whilst he clearly loved being a bricks and mortar retailer he clearly has made online sales work.

Value – all retailers have seen the increased focus on value by consumers over the last 2 years. Variable proof as to whether all were effectively understanding and translating that for their brands though.

Simple clear strategy – those retailers that were winning could easily and clearly communicate their target customer, positioning and strategy. Certainly correlated with ability to execute and win.

And finally thought – the difference between success and being an also ran comes down to passion and focus. Those local retailers with passion who are currently transforming their business are certainly worth watching!

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