Retail

BDO guides retail through challenges, e-commerce, sustainability, and changing consumer behavior for growth and trends.

Retail: towards an outstanding shopping experience for every customer

In the retail sector, companies and their stakeholders face tough challenges, unique growth opportunities and promising future trends and developments. Anyone who wants to continue to make a difference as a market player in this rapidly evolving industry must be ready for the next big challenges: 

  • The continued growth of e-commerce - which experienced a major breakthrough during the Covid period - is creating more intense competition, requiring traditional retailers to re-source and adapt to online shopping 
  • At the same time, e-commerce is driving the centralisation of supply chains, including investments in distribution centres where courier services can collect the wares to make deliveries 
  • The retail sector is facing (new) logistics challenges, including in terms of (automated) inventory management and (sustainable) transport flows,etc. due to increased demand for fast deliveries 
  • Borders are blurring: for consumers, buying products abroad has become as clear-cut as shopping with local outlets. This has tax and customs implications, and also interfaces with phenomena such as counterfeiting 
  • Sustainability is a growing concern, with consumers increasingly valuing eco-friendly products, packaging and Corporate Social Responsibility (CSR) 

Retail is a sector brimming with opportunities, including:

  • The rise of sustainability: charging stations in shop car parks, (sustainable) transport of online orders, pleasant working conditions for shop staff, an offer of locally produced products, etc.  
  • Stricter conditions from investors will come into effect for financing new retail projects, which can provide additional impetus for further sustainability in the sector 
  • E-commerce will continue to grow, but the focus on so-called omnichannel retail experiences also remains strong (with a mix of online (‘clicks’) and offline (‘bricks’) shopping 
  • Investment in personalised shopping experiences and communications, complemented by data analytics: this offers retailers the chance to better understand their customers and make relevant offers 
  • Local anchoring of shops, close to the customer, can provide significant added value for certain customer segments that are willing to pay more for a product and service offering from nearby 
  • Sustainability and ethical consumption will drive demand for green products 
  • Automation, such as self-scan checkouts and robotics for warehouse management, will increase efficiency 
  • New technologies such as AR and VR are paving the way for a profound transformation of the shopping experience 

How BDO can help

To seize new growth opportunities, retail companies must:

  • Put maximum effort into automating, digitalising and robotising repetitive tasks and processes that offer little or no added value for the end customer.
  • Make efforts to deeply grasp consumer behaviour and trends, complemented by marketing skills to advertise products and attract customers. 
  • Master and manage complex supply chains, as this is crucial to have the right products available at the right time.
  • Invest in customer service excellence and shopping experience as essential factors for building brand loyalty.
  • Take into account seasonality, short-term sales and long-term strategic planning. 


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Why choose BDO

How does BDO make a difference for entrepreneurs operating in retail?

  • Our experts put end customers first: who are they and what are the needs that come into play? The BDO team actively listens to retail entrepreneurs who want to explore these needs and future-proof their businesses. This includes using new technologies, such as AI-driven software to automate cost-intensive employee tasks. 
  • Thanks to our close contacts with various market players in the retail sector, as well as our international network of experts, the BDO team has a clear view of how this industry works and changes. 

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