Global retailers are facing a new reality: having to understand that growth is as much a mindset as it is a market condition.
Global retailers are facing a new reality: having to understand that growth is as much a mindset as it is a market condition. The mindset that encapsulates the necessary attitude for successful operations is the theme of the 2017 Global Consumer Executive Top of Mind Survey: think like a start-up. In line with this notion the survey – which was compiled from over 500 consumer and retail executives’ insights – has come to show that businesses must respond to geographic, demographic and technological developments in order to thrive. The survey identified five major areas in which businesses of today must be ready to successfully answer the most pressing challenges.
Zsolt Müller, director leading the Consumer & Retail practice in Hungary, remarked that due to the increasing dominance of e-commerce, local retailers are now in direct competition with major international retailers and as such the notion of “think like a start-up” is just as true for them. However, the exact path to adopt a start-up like mindset is different for each business; as the various insights from executives detail in the survey.
In order to gain insight into global trends impacting retail worldwide, read the full report below.
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