7th Jan 2016 • CLAIRE HARPER
Retail has always been a volatile industry with an ongoing fight for customer sales and increased market share.This is an industry used to dealing with constant change. However, the change we are seeing today is far more profound than anything the past has thrown up. We have only just started a new year and already we have heard about two big announcements from M&S and Sainsburys. This morning's news that the CEO Marc Bolland is stepping down and will be replaced by an M&S veteran, Steve Rowe. Steve has no CEO experience but has vast experience of the business and is a good old fashioned retailer. I'm sure he will not be under any illusion with the difficult retail challenges the company face and I'm sure he will do a great job getting back to basics.
Earlier this week I was initially surprised to read about Sainsburys bid for The Home Retail Group. Having worked for both Argos and Sainsburys I can understand why Sainsburys have made such a bold and strategic move. Sainsburys have been looking at expanding non food and digital platforms for many years but I'm not sure Argos is the right solution due to the customer profile and brand values. I'm waiting to see how this development unfolds. I'm sure this is just the start of retail surprises for 2016.
Wishing you all a very Happy New Year and Trade Well!
© 2022 Claire Harper