We’ve been hearing the death knell for some time now but the UK retail industry is very much alive and kicking… it is however being rapidly reimagined.
After entering a period of accelerated change there are several speed bumps ahead threatening static retailers.
The earth is still fresh on a string of businesses that failed to counter innovations in technology and were buried as a result.
Blockbuster had no answer to consumer appetite for streaming and on-demand services. BHS entered administration after 88 years of trading because of its slow response to a digital age.
Retail isn’t dying, it’s simply changing, and fast.
The Centre for Retail Research have forecast shops across the UK to fall by 22% in 2018 with 60,000 stores closing.
Retailers have to move quicker than ever just to stand still in 2018, and they’ll have to evolve or they’ll struggle to see in 2019.
In their wake the disruptors, innovators, connectors and more importantly, those that can manoeuvre with change will thrive.
Consumers have different demands for how, where and when they shop. They don’t want to wait. Younger generations have grown up in an on-demand culture where digital goods like games and music are only ever a few clicks away.
They bring these expectations to the larger world of retail which means stores are having to work faster and smarter to deliver their services and goods.
A decade ago change management as we know it didn’t exist, over the next year it will be decisive in retail survival.
Who has the necessary hires to create the stores of tomorrow and do they have the right programme managers at the head to orchestrate these changes?
This is an industry that won’t slow down and retailers will need to be agile enough to quickly respond to what’s being thrown at them.
From navigating GDPR and new ways to utilise data, to supply chain management, smarter delivery tactics and creating a seamlessly connected shopping experience.
How will the major retailers tackle their legacy IT systems, or implement wide scale changes with new technology?
Change management teams will play a pivotal role in retail success which is why it’s so important to partner with an agency that fully understands how to match the needs of the retailer with the right candidates.
It’s even more critical that the recruitment process is frictionless and swift, as time really does eat into a retailers bottom line and the wrong hires can be fatal.
It’s an exciting time for those working in this sector with new projects appearing daily. Talent want to work in a field where the stakes are high and the rewards reflect that.
Retail armageddon is not the end that many anticipated but an opportunity for those retailers agile enough to mobilise with change.
At the heart of that survival are the right hires - so ensure you have the strategy in place and an able recruitment partner to facilitate that change.
Are you a hiring manager working in retail change & transformation and interested in a better approach to recruitment? It might be worth a conversation...
Drop me a message or give me a call to start the conversation - 07540573476.