The British Retail Consortium (BRC), in partnership with Accenture and in association with Microsoft, today hosted an exclusive networking lunch with 20 of the UK’s top retail ceos and Bill Gates, founder of Microsoft.
Gates talked about the ‘digital lifestyle’ that consumers are readily embracing in the UK, the implications for retailers and how they can use technology to respond to change and get the edge in an increasingly competitive environment. He also touched on the threat of online and identity fraud, and how retailers can re-think their roles and help combat it.
BRC, director general, Kevin Hawkins, said: “From online shopping to RFID, technology is no longer an issue that can be separated out from the day-to-day business. It undoubtedly forms a large part of every retailers' strategy, providing them with a platform to increase their competitiveness, efficiency and flexibility. Retailers are currently faced with a challenging and highly competitive trading environment and are under pressure to increase sales and profitability. In this climate, retailers will leave no stone unturned in their quest to gain a competitive advantage."
Richard Wildman, managing partner, Accenture's Retail Practice in the UK says: “The fact that technology is engrained into customers’ lives is both an excellent opportunity and a significant challenge for retailers. While many retailers use technology to make their operations more efficient, more effective and more profitable, the best retailers use technology to put the customer, not the product, at the centre of the business. This focus differentiates the high performers, those with top-line growth, increasing shareholder value and strong customer loyalty, from the rest of the pack.”
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