How many times have we witnessed a ‘too big to fail’ bubble burst? There is an ever growing list of brands that lost the trust and loyalty of their consumers and then faded out of the market. Most of us will have experienced that let-down feeling when our favoured brand fails to deliver. The most successful and enduring retail companies are well aware that standardization of all processes, in all geographical locations, is critical.
The unexpected events of the past year have meant the retail sector has suddenly found itself faced with trading restrictions, departing customers and supply issues. As bankruptcies began to hit even the biggest of the high street names, retailers have rushed to adopt new strategies to maintain, and potentially increase, their market share. Arguably, those who are best placed to succeed are those already taking steps towards digitizing their operations.