New Bluefin Solutions Report Lists UK Retailers Least Likely to Survive the Next Five Years
25 March, 2013
“The Retailer’s Survival Guide” reveals 80% of organisations are not prepared for the Digital Age of Personalisation.
British retailers including Matalan, BHS and Morrisons are at risk of failing according to a new report published by Bluefin Solutions, a leading global management consultancy.
“Bluefin Solutions’ latest paper, the Retailer’s Survival Guide in a Digital Age of Personalisation, is loaded with innovative ideas retail executives should consider when developing a new business model of the future centred on serving the needs and wants of customers,” said Cathy Barnes, Professor of Retail Innovation and Director of the Faraday Centre for Retail Excellence at Leeds Metropolitan University.
In The Retailer’s Survival Guide, Bluefin Solutions has identified the three new Golden Rules of Retailing every organisation must embrace in order to survive in a digital age of personalisation:
1. Exploit customer data to obtain a single view of shoppers on which to base business decisions; 2. Adopt emerging technologies that integrate multiple retail channels into a single go-to-customer route; 3. Develop an agile business strategy that enables the organisation to respond to market opportunities.
“British retailers need to do more to spark innovation within their organisation if they are to win the hearts and minds of customers”
Barry Moles, Retail Industry Expert, Bluefin Solutions. “Research conducted by Bluefin Solutions reveals retail chiefs must accelerate the adoption of new technologies in order to drive through transformational strategic and operational improvements which will deliver long-term business value including improving customer loyalty across channels – in-store, online and mobile.”
The Retailer’s Survival Guide in a Digital Age of Personalisation provides readers with a number of useful tips and self-assessment tools including a check-list to help business and IT leaders assess the healthiness of their organisations.
Bluefin Solutions recently bolstered its global Consumer Business Centre of Excellence (CBCoE) with the hiring of two retail industry veterans. John Squire, Retail Delivery Director and Barry Moles, Retail Industry Expert, report into Dan Hawker, Bluefin Solutions’ Director of Consumer Business.