World Retail Congress 2019

 

Good is no longer enough warns OC&C

14 May 2019

Good is no longer enough warns OC&C

OC&C and World Retail Congress shared exclusive research in Amsterdam on the digital future, while Action argued for physical stores.

Today, during the World Retail Congress in Amsterdam, James George – International Managing Partner OC&C, discussed High Velocity Retail with Sander van der Laan – CEO of Dutch retailer Action.

“Good is no longer good enough.” George said. “It’s no news that there has been a dramatic change in consumer behaviour over the past ten years. Therefore, retailer performance is now more important than ever.”

He added: “Before, our world of retail was characterised by physical shopping trips, where on average we would take 200 shopping trips every year to the local shopping centre. Today, we live in a world with more than three billion smartphones out there and we have access to more than 800,000 retailers, at the touch of a button. It is safe to say that customers’ expectations are increasingly enhancing.”

George said that retailers and brands need to “double down” on new strategies that engender trust, to keep their customers engaged. But said there is more to it than just speeding up the process of fast delivery and launching new collections of clothing every week. “Speed is only valuable if set up in the right way.” George said. “Choosing where to follow is as important as choosing how to lead.”

Based on OC&C's recent research with World Retail Congress, there are only four winning business models for long-term success in retail, all focused on digital experience.

However, brick-and-mortar retailer giant Action, has managed to continue growing sales, without any digital sales.

“Our brand is very unique. We offer products for low prices, with an average of €1.72,” van der Laan said. “Too much choice is not always a strength, it could also be an issue. We ensure loyalty, because we offer a different choice in products every single week. You should see it as a treasure hunt, you never know what to expect when you walk into the store.”

 

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