Referencing her experience with brands Sweaty Betty, Boots, Harrods and Morrisons, retail expert Gabrielle Hase presents key success factors for brands and retailers including agility, technology, values and trust.
In this session, hear:
Why business models need to change
The main trends that are here to stay
5 key success factors you need to bear in mind
10 steps to take for post-COVID-19 success
“To say that retail has changed forever is an understatement,” Gabrielle Hase, CEO and digital non- executive director, told delegates at the Linn Academy 2020.
Hase has worked with retailers such as LK Bennet, Sweaty Betty and TK Maxx in the past. “This has given me a ringside seat to the incredible and fundamental changes that the retail industry has been experiencing and will continue to experience,” she said.
While retail is under threat, she said its survival was assured as people will still need to shop – but that business models need to change. “A lot of the models we have counted on in the past are no longer relevant. It has forced us to rethink how we do everything. What this has given retailers is the opportunity to make the change that needs to happen,” she said.
Retailers need to accelerate change to take advantage of opportunities.
However, retailers can’t afford to take half measures. “There’s no time for small steps. This is about big change, acceleration and being very nimble to take advantage of the opportunities.”
Hase outlined the main consumer trends and the drive for change, pointing out that many of the trends – such as reduced footfall and shorter dwell times – will be here for some time yet.
She outlined five key success factors that retailers and brands need to set up for success, as well as 10 steps to take. “Anything less than a radical rethink simply won’t cut it. It is about being flexible, both in skillset and mindset,” she said.