Disrupt or be disrupted: innovation is key to survival for retailers

Innovation is key to survival for retailers

KPMG Boxwood have launched their latest thought leadership paper: Disruptive Influences: The three key trends transforming the face of retail.

Also on KPMG.com

During the first day of Retail Week Live in London yesterday, KPMG Boxwood launched their latest thought leadership paper: Disruptive Influences: The three key trends transforming the face of retail. 

The retail industry has experienced a seismic shift over the last few years with a myriad of significant and far-reaching changes impacting businesses across the sector. What’s more, there is no sign of this slowing and, if anything, the pace of change is likely to increase as three-year plans are replaced by three-month plans.

Yet, new technology, regulatory reforms and a transformed economic environment combined with changing consumer needs, expectations and demographics, have created unparalleled opportunities for retailers with disruptive business models to fundamentally change the way we shop.

Today’s consumers are demanding convenience, value and an amazing experience, and it is these three key trends that are driving disruption to existing markets and business models on an unprecedented scale.

Retailers who fail to respond to these trends are being punished — often severely, but those who can deliver on one or more of these are being rewarded — often handsomely.

In this paper, KPMG Boxwood examine some of the disruptors who are taking advantage of, and profiting from, these changes in consumer expectations.

Commenting on the launch, Matt Clark, Partner, KPMG Boxwood, said:

“This is an exciting and challenging time in retail. Disrupt, or be disrupted. Innovate or die. To achieve any kind of sustainable growth — and increasingly, to ensure their survival — retailers must respond to the disruptive influences of value, convenience and experience. Those neglecting to respond will struggle to survive, let alone grow.

“Identifying an opportunity is one thing — being able to execute on it is another. For many, adapting to these realities will be challenging and will require a fundamental transformation to their way of thinking about their customers, their market, and their operating model. These are not simple changes to make, but they are necessary ones.

“This paper is designed to help retail leaders seize the opportunities in the market and also manage the risks.”


Media enquiries:

Jess Liebmann, KPMG Corporate Communications

T: 0207 311 3245 

E: jessica.liebmann@kpmg.co.uk

KPMG Press Office: 020 7694 8773

About KPMG Boxwood:

KPMG Boxwood is an award-winning consultancy that specialises in the delivery of business transformation. We work with ambitious leaders to drive growth, improve profitability and unlock value. We do this by combining our market leading business transformation expertise with deep industry insight and results-orientated culture. Like our clients, we value straight-talking, honesty and integrity. Our work has been recognised by prestigious industry awards eight times in the past ten years. 

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