Main interview
Retailers are having to adapt in response to current economic uncertainty , and Greg elaborates on a particular behaviour . “ One response we are seeing is retailers outsourcing large parts of their stores , and effectively acting as landlords with concession arrangements . It ’ s in the brands ’ interest to take on that risk and drive the space . We are seeing whole categories of stock effectively outsourced . A thirdparty supplier will be responsible for the range , getting it into store and even merchandising the products . While the retailer decides on their proposition , what they think their customers want , and a space strategy for their stores , in reality , they are de-risking the stock , and to a large extent , the sales risk . The risk is pushed back onto either the concessions or the brands themselves .”
The human element
Indeed , keeping pace with the current climate and innovating accordingly is essential in the ever-changing world of retail . As Greg elaborates : “ In terms of innovation , the obvious sweet spot everybody is looking for is really useful tech spend . Over the last five or so years , while the prospect of genuinely innovative tech seems to have been on the cards , in reality , robots roving aisles , among other concepts , have never really landed . However , the ability to make a difference whether through efficiency or driving better sales , also needs to be accepted by the consumer . If people are going into a physical store , you have to provide a point of difference . It ’ s pointless going into a store and having an online experience .
“ In physical retail , the human element will remain important to people . There has to be an almost
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