Rethinking procurement in retail

McKinsey

For retailers, procurement is no longer solely a matter of negotiating “A” brands. Retail InsightsPrivate labels and verticalization are trending. Advanced approaches and tools help get procurement in shape for the future.

Retail ghost town

McKinsey

The decline in the need for space in Australian traditional brick and mortar retail calls for a survival plan. Asia-Pacific

Retail 106

Reviving grocery retail: Six imperatives

McKinsey

In the United States and Western Europe, many traditional grocery retailers are seeing their sales and margins fall—and things could get even worse. Retail InsightsHere’s how to reverse the trend.

Supercharging retail sales through geospatial analytics

McKinsey

A retailer can now use geospatial analytics to understand the interactions between its online and offline channels. With these insights, it can create a higher-performing retail network. Retail Insights

Automation in retail: An executive overview for getting ready

McKinsey

Automation will reshape retail business models and the broader value chain, creating organizations with fewer layers and a better trained and trusted workforce empowered by real-time data and analytics. Retail Insights

Retail 114

Pairing advanced analytics with intuitive tools to transform retail markdown management

McKinsey

A measured approach to pricing during the clearance cycle could be worth millions of dollars to retailers. Retail Insights

Winning in an era of unprecedented disruption: A perspective on US retail

McKinsey

In light of the large-scale forces disrupting the US retail industry, once-optional moves have become imperatives. Retail Insights

Retail 114

The invisible hand: On the path to autonomous planning in food retail

McKinsey

It’s not news to food retailers: sometimes your stocks are too high, sometimes they’re too low. Retail InsightsAdvanced planning now gives them entirely new options for solving the expensive problem—and cuts costs in the process.

Blockchain and retail banking: Making the connection

McKinsey

Caution is understandable when it comes to blockchain, but there are a number of areas where the technology could create value for retail banks. Insights on Financial Services

Retail 114

How companies can seize opportunity in Vietnam’s growing retail market

McKinsey

Vietnam’s economic stability and growing middle class create an attractive retail environment. Retail InsightsCompanies need to embrace three key trends to translate the opportunity into profitable enterprises.

Now or never: Immediacy and customer experience in fashion retail

McKinsey

To serve and inspire shoppers, retailers and brands need to think through how new technology has changed the customer decision journey. Retail Insights

How analytics and digital will drive next-generation retail merchandising

McKinsey

As merchandising in retail continues to evolve with the integration of analytics and other digital solutions, merchants need to become much more nimble and ready to fulfill customer needs. Retail Insights

Inflection point: Seven transformative shifts in US retail banking

McKinsey

Only ten years ago, the US retail banking industry was in the depths of the global financial crisis, as many once leading institutions struggled to survive. Since then, after bringing in billions in fresh capital, US banks have made a return to stable ground and greater liquidity. Now, however, several transformative forces are accelerating the evolution of US banking and promising to make the business more challenging in the next ten years. Insights on Financial Services

‘Power partnerships’: Manufacturer–retailer collaborations that work

McKinsey

Our research shows that when consumer-goods manufacturers collaborate more closely with retailers, they outperform their competitors. We identified four principles for fruitful partnerships. Insights on Consumer Packaged Goods

Rewriting the rules in retail banking

McKinsey

Four important trends are changing the terms of success in retail banking. Banks need to act now to develop new skills. Insights on Financial Services

Beyond procurement: Transforming indirect spending in retail

McKinsey

If retailers treat indirect costs as an opportunity for business transformation rather than just a procurement matter, they can boost return on sales by as much as 2 percent. Retail Insights

Small Box Retailers

Strategy+Business

Target is the latest retailer to double down on mini versions of its stores -- and hopes to avoid others' pitfalls

The cloud as catalyst for retail

McKinsey

For retailers, the cloud can do much more than reduce the cost of computing and data storage. To maximize value from cloud, retailers need to prioritize workflows that can best benefit from it. We share six opportunities for leveraging the cloud as a catalyst for accelerating delivery of business results. Digital Insights

Who’s shopping where? The power of geospatial analytics in omnichannel retail

McKinsey

Using advanced geospatial analytics, retailers can now quantify the true economic value of each of their stores across channels—and they’re uncovering surprising insights. Retail Insights

Retail Payments: Mapping Your Digital Destiny

BCG

Below, we take a regional look at how incumbents in retail payments can excel in an increasingly digital world. Overall, growth in retail payments revenues will be driven by account and debit card revenues. Article Monday, September 26, 2016.

4 Questions Retailers Need to Ask About Augmented Reality

Harvard Business

Sales & Marketing Technology Retail & Consumer Goods Technology Digital ArticleIt’s not for everyone.

The simple dynamics of failing retail

Seth Godin Blog

The local retailer says, “I’m sitting here all day, with a limited selection and a paid staff, waiting for you to come and buy something I have in inventory. ” The online retailer says, “I can use the same size staff to serve a town of a million, not a few thousand. ” The local retailer depended on two groups of people: Folks who needed or wanted the hands-on service, the ability to try things on and the chance to chat.

In fresh-food retailing, quality matters more than price

McKinsey

Retail InsightsOur survey of 23,000 European shoppers reveals specific ways grocers can win in fresh fruits and vegetables, boosting sales by as much as 10 percent even in a flat market.

How lessons from the record-breaking 2018 holiday season can inform retailers’ 2019 strategy

McKinsey

Black Friday and Cyber Monday are months away, but savvy retailers are incorporating lessons from last year’s holiday season into this year’s marketing. Marketing & Sales Insights

Retail Banks at the Crossroad

BCG

Nearly eight years after the financial crisis, the performance of many retail banks is still disappointing investors and financial markets, particularly in Europe. In fact, retail banks have to reinvent themselves. Article Tuesday, June 21, 2016.

How retailers can improve price perception—profitably

McKinsey

New methodologies, powered by big data and advanced analytics, can help retailers attract value-conscious consumers without sacrificing margins. Our Insights

Navigating Retail's Last Mile

Strategy+Business

Today, retailers approach the last mile making more nuanced trade-offs among speed, variety, and convenience. The right combination entails a complex set of compromises that depend on the product type, consumer segment, shopping occasion, and retailer positioning Nearly two decades ago, the first home delivery startups focused on speed at the expense of variety -- they could get you a small selection of goods relatively quickly.

The Best Retailers Combine Bricks and Clicks

Harvard Business

Retail profits are plummeting. Sure enough, the Census Bureau just released data showing that online retail sales surged 15.2 But before you dump all of your retail stocks, there are more facts you should consider. percent of retail sales in the first quarter of 2016.

Lessons from leaders in Latin America’s retail banking market

McKinsey

A look at how leading banks outperform in the world’s fastest-growing banking market. Insights on Financial Services

Retail Survival 101: Treating Employees Better

1 to 1

For retailers, 2017 will be remembered as the year of store closings. This article appeared originally in Customer Strategist. Nearly 13,000 stores are expected to shut their doors this year, compared with 4,000 in 2016, Bloomberg reports.

For Better Retail Promotions, Ask These Questions

Harvard Business

Discounts and promotions are at an all-time high, often comprising the single-biggest cost within many retailers’ P&Ls. The good news is that many large retail organizations already have the tools and data they need to craft more effective promotions. John Rizzo/Getty Images.

Retail Sales Cannibalization

MishTalk

Retail firings continue. is attempting to right-size itself by closing 33 under-performing stores around the country and eliminating 2,000 positions, the retailer said Wednesday. In addition to the workers losing their jobs, some associates will be reassigned or transferred, the retailer said. Today, Wal-Mart announced a 2% Reduction in Sam''s Club Employees to thin middle-manager ranks. Wal-Mart Stores Inc.

Retail's Risky New Strategy

Strategy+Business

How to convert extraordinary behaviors into ordinary parts of your culture

The future of customer-led retail-banking distribution

McKinsey

Customers are leading the way toward next-generation retail-banking distribution strategies. Our Insights

Auchan China’s chairman on the future of grocery

McKinsey

Ludovic Holinier, executive chairman of Auchan Retail China, reflects on his two-year stint as CEO of China’s largest hypermarket chain and shares his views on what lies ahead for food retailers. Retail Insights

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Uniqlo Addresses Retail Woes with High-Tech Vending Machines

Strategy+Business

A small but growing number of retailers and restaurants are experimenting with selling their wares through unstaffed kiosks, often linked to apps and e-payment systems

Retail Sales “Solidly” Flat

MishTalk

Economists missed the mark on retail sales this month by a mile. The Bloomberg Econoday consensus estimate was +0.4% in … Continue reading → Economics