THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
World Retail Congress 2010 Day 2

Through major changes in technology and post-recession consumption patterns the retail industry is undergoing a number of game-changing shifts that will dramatically affect how it operates in the future. By Glynn Davis in Berlin

GENERAL MERCHANDISE

World Retail Congress 2010 Day 2

Through major changes in technology and post-recession consumption patterns the retail industry is undergoing a number of game-changing shifts that will dramatically affect how it operates in the future. By Glynn Davis in Berlin

Speaking at the World Retail Congress 2010 in Germany today, Ian Cheshire, group chief executive of Kingfisher, told delegates that the retail industry was changing in a number of ways and that these will have a long-lasting impact on retailers. 

He cited technology – specifically the penetration of high speed broadband and growth in smart-phones – as the first game-changer that was affecting how consumers are interacting with merchants.
“We’ve been the editor of choice [on products] but we’re about to see a more collaborative approach between retailers and consumers. Our customers are talking about the kitchen they’ve just fitted and they like to share this. People are still looking for the human experience but in different ways. This leads to a fundamental change to our processes,” explains Cheshire.

He also believes that in the West and the US the consumer is behaving very differently in the post-recessionary environment. “Over 2004 to 2008 there was a debt binge. But we’ve seen people pull back from this and their attitude to debt and spending has changed. It’s been a wake-up call and people now question the endless consumption for consumption’s sake. There is now a more responsible, lower-impact, consumption maybe,” suggests Cheshire.

To enable Kingfisher to react to these changing consumption patterns it is committed to utilising customer data, which Cheshire says, provides it with the necessary insight on customer behaviour:  “I’d like to know our customers better and to respond. Consumers in focus groups will often say one thing [and do another thing] so follow the money, follow the customer data.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process