The effects of the downturn on the retail industry
This year, retailers are facing what might be called a perfect storm of negative economic trends. To the extent that spending is growing at all, consumers are becoming more price sensitive, favoring discounters over high-priced stores as we see currently happening in the US market. Also transformational innovation is changing the way we shop, communicate and interact with each other. The transparency of information has shifted power to consumers, who have reacted by demanding more choice at lower prices.
Perhaps the single most important thing for any retailer or consumer-driven business is to think and act for your customer. However, consumer values and behaviours often change dramatically during a downturn and, as such, need to be monitored closely. It is common, for example, for consumers to “trade down” to offset other changes in their planned spending.
How can retailers emerge from this situation with increased market share and with a more competitive business model? What strategies and tactics can help position them to cope with an economic storm?
Deloitte is the ideal partner to help you navigate the downturn. Our industry expertise will be bundled to support you with an integrated approach to gain quick insight and to help you develop and execute a focused plan. Our integrated offering focuses on optimising your business portfolio, controlling costs, mitigating risks, optimising tax and improving cash flow and funding.
- We provide you with a complete analysis that assesses improvement opportunities within 2 to 4 weeks
- We are a one-stop trusted partner that has all the expertise you need: one team, many perspectives funneled to one vision, one complete overview
- We have the power to implement what we advise
If you would like to explore how Deloitte can help you navigate the downturn, please contact:
Mobile: +31 (0)6 20 25 20 88
Assistant: +31 20 582 53 13
Stefan de Kruijf
Mobile: +31 (0)6 12 01 14 59
Assistant: +31 20 454 70 20
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