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Shaping the retail industry of the future: the key trends

Kari Daniels, Commercial Director Tesco Bank
Series: 

 [A] trend in retail [that] will be mirrored in other sectors, […] will be embracing inclusion and diversity, not just for the sake of it, but because it’s the right way forward; it’s the right way to run a business; it’s the best way to serve your customers.

Benny Higgins, CEO, Tesco Bank

Kari Daniels, Commercial Director TescoDiversity and inclusion is a matter close to the heart of CEO of Tesco Ireland, Kari Daniels, also an everywoman Ambassador. Through her work, she advocates the power of an inclusive team and workforce. With over 25 years of experience, she is hugely qualified to identify the key disruptors facing the retail sector. 

Our new study — based on research with individuals in the retail sector across a range of roles and companies — delves deeper into the obstacles and opportunities facing their businesses. We asked them to estimate their employers’ readiness in five key areas of disruption, as well as how prepared they feel to rise to the challenge of whatever is thrown at them over the coming 12 months.

The results are illuminating, demonstrating in which particular areas individuals are concerned about organisational or personal unpreparedness, and in which areas they feel they would most benefit from targeted professional training. They also uncover an enormous appetite for on-going learning — one wise employers can capitalise on, by ensuring the talent across the workforce is primed to face market challenges head on.

Key insights include:

  • The continued rise of e-commerce is perceived by retail employees as the single most significant trend impacting retail for the foreseeable future, yet only 50% say the organisation they work for is completely prepared to face this particular challenge.
  • There is an enormous appetite for learning and development among retail staff, particularly in the area of technology, which 93% of survey respondents said would be beneficial for their continued success.
  • Online learning is the preferred method of training for nearly four in ten retail employees. Formal mentoring or coaching is also a popular mechanic, with 16% of individuals saying it’s their preferred way to receive professional training.

 

This study will be of particular to interest to:

  • Retail industry leaders who want to understand how their organisations’ future-readiness is currently perceived by their employees;
  • Business leaders seeking to ascertain how well prepared their workforces are to face well-documented future challenges;
  • HR leaders who can benefit from insight into the specific training areas deemed as most beneficial by their employees;
  • L&D experts requiring insight into the appetite for learning among their colleagues, and in which formats that learning is best received.

GET YOUR COPY OF THE REPORT

Download your copy of Future ready retail: How prepared are retail organisations and their employees for the challenges ahead?