The diversity imperative in retail

McKinsey & Company

Consumers are expecting more from brands than ever before, and the cost is high for retailers that don’t take action on racial equity, diversity, and inclusion. Retail Insights

Closing the skills gap in retail with people analytics

McKinsey

Retailers that embrace people analytics are poised to streamline their onboarding process, retain strong employees, and ultimately maximize productivity. Retail Insights

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The path forward for the US retail industry

McKinsey

What will it take for US retailers to succeed post-COVID-19? Retail InsightsThree McKinsey partners offer their views.

NRF 2021: Trends that Retailers Bet will Outlast the Pandemic

Think Customers

With 2020 in the rearview mirror, retailers are ready to embark on a new path forward. However, it’s impossible to look ahead without acknowledging the changes that the COVID-19 pandemic has imposed on retail businesses, their partners, and consumer expectations.

Reimagining stores for retail’s next normal

McKinsey

At some point, retail stores will reopen—but unless apparel and specialty retailers redefine the role of the store and revamp store operations, they will be ill prepared for the post-COVID-19 future. Retail Insights

How Gen Z and millennials are shaping the future of US retail

McKinsey

Here’s what retailers and brands can do about it. Retail InsightsAmerica’s youngest consumers are upending companies’ expectations.

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.

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.

The next normal in retail: Charting a path forward

McKinsey

To succeed after COVID-19, retailers must assess their revenue management practices, operating models, digital capabilities, capital investments, and M&A strategies—then make bold moves to transform themselves. Retail Insights

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

How retailers are preparing for the post-coronavirus recovery

McKinsey

Survey findings suggest that retail executives expect a delayed rebound of traffic once stores reopen, a persistent increase in e-commerce penetration, and changes to store operating models and procedures. Retail Insights

Redefining value and affordability in retail’s next normal

McKinsey

Grocers, mass retailers, convenience stores, and drugstore chains will need to carefully refine their value strategies. Retail InsightsMost US consumers are worried about the economy.

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

What food retailers should do during the coronavirus crisis

McKinsey

The food-retail industry plays a critical role in these uncertain times. Here are six actions food retailers should take to help their communities, their employees, and their business. Retail Insights

The end of IT in retail?

McKinsey

Retailers who want to stay ahead of the pack and drive business results through technology innovation are rethinking the setup of their IT departments. Retail Insights

Personalizing the customer experience: Driving differentiation in retail

McKinsey

An effective personalization operating model, featuring eight core elements, can help retailers and brands keep pace. Retail InsightsToday’s customers expect a personalized experience when they are shopping.

A future beyond brick and mortar: Disruption in automotive retail

McKinsey

As customer expectations evolve and cost pressures rise, automotive retail strategies must also change rapidly. Automotive & Assembly Insights

Reshaping retail banking for the next normal

McKinsey

Retail banks have a prominent role to play in guiding the world toward economic recovery, while preserving the health of their organizations. Insights on Financial Services

Unlocking the online retail opportunity with European farmers

McKinsey

What can digital retailers in the agriculture sector do to encourage what could be a €10 billion market? Agriculture Insights

How Middle East and Africa retailers can accelerate e-commerce: Imperatives for now and the next normal

McKinsey

To offset the impacts of the COVID-19 crisis, retailers in the Middle East and Africa must act in three key ways: sustain, adapt, and build. 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 InsightsThe winners in the sector will be those who understand these implications and act quickly to address them.

What Robots Can Do for Retail

Harvard Business

Technology Retail & Consumer Goods Digital ArticleThey’ll help you identify what consumers didn’t purchase — but wanted to.

Bending the cost curve in brick-and-mortar retail

McKinsey

Retailers can achieve next-generation store efficiency by breaking down silos and optimizing total cost across the value chain. Retail Insights

Adapting to the next normal in retail: The customer experience imperative

McKinsey

Retailers will have to work hard to meet ever-evolving customer experience requirements in order to win and remain relevant. Retail InsightsThe COVID-19 crisis has led to dramatic shifts in consumer behavior.

Five actions retail supply chains can take to navigate the coronavirus pandemic

McKinsey

Retail supply chains are grappling with the humanitarian impact of the outbreak, as well as new operational risks. Five actions can help retailers bring goods to communities and help employees. 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

How retail can adapt supply chains to win in the next normal

McKinsey

Retailers in consumer discretionary categories were already struggling in the US before COVID-19. Better supply-chain management could be critical to their recovery. Insights on Operations

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

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

What Chinese consumers want from fresh-food retailers

McKinsey

Retail InsightsWe surveyed nearly 5,000 consumers in China to discover how they buy fresh fruits, vegetables, and meats. Here’s what we learned.

How AR Is Redefining Retail in the Pandemic

Harvard Business

” Technology Retail & Consumer Goods Digital ArticleA closer look at augmented reality and the “digital lipstick effect.”

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

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

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

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

‘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

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

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

The next normal: Retail M&A and partnerships after COVID-19

McKinsey

Now is the time to think about retail M&A after the coronavirus crisis. Four trends could unlock opportunities for retailers, brands, and investors to shape the next normal. M&A Insights

Retail Survival 101: Treating Employees Better

Think Customers

For retailers, 2017 will be remembered as the year of store closings. The store closings are symptomatic of a larger trend: consumers are increasingly eschewing stores for online retailers that offer virtually endless aisles and fast deliveries.Still, some retailers have managed to not only survive but thrive in the face of t This article appeared originally in Customer Strategist.

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