One of the ways Foot Anstey aims to support the businesses we work with is through understanding the challenges and opportunities affecting different industries. This is so that we can provide meaningful insight and commentary, collaborate with partners and relevant organisations and share examples of best practice with our clients.
With this in mind we recently published the first of a series of Foot Anstey Retail Reports based on entirely new research. The research included consulting, through a survey and interviews, with 50 senior leaders of retail businesses on the issues affecting them.
From a People perspective there were interesting and varying views on the impact of changing legislation, flexible working and the impact of Brexit. But what united opinions was the importance of ‘customer experience’ and the role of employees in delivering this.
This links to the report's most surprising result: retail leaders feel rises in the National Living Wage are more likely to affect head office headcount than on the shop floor. When you look deeper into the research the reason becomes clearer. The abundance of buying platforms means more staff than ever are directly engaged in the business of creating a customer experience which reflects the brand. Businesses see that as the key differentiator, and know front-line employees are essential to delivering it.
Other findings in the Foot Anstey Retail Report 2018: People include:
- There was a near 50/50 split between retail businesses who are “open” to modern flexible working and those who are not. Almost all medium and large retailers say their employees are demanding more flexibility, despite the logistical difficulties of flexible working in the retail sector
- Small retailers are the most relaxed about Brexit, but the least prepared
- In-store experience and online experience top the list of factors retailers are focused on for customer attraction - beating Pricing strategy into third place.
You can download and read the full report by clicking HERE
The two remaining editions of the Foot Anstey Retail Report 2018 titled Brand and Property will be issued in the coming months and will be available via our website. We would be delighted to discuss any of the issues arising from the reports with you. Please contact Patrick Howarth, partner on +44 1752 675058 or email email@example.com