Electrical retail leaders: Biggest threats and opportunties in coming years

What will be the biggest threats to retail in coming years, where do the opportunities lie, and what could retailers be doing better? Find hereafter the exclusive opinion of top managers from the electrical sector of leading TCG retailers in Europe. These three retail leaders and many more will share there thoughts and insights at upcoming 4th European TCG Retail Summit on March 29-30 in Berlin. It is the leading international think tank retail conference in the technical consumer goods sector at senior executive level.

Klaus-Peter Voigt, CPO Media-Saturn-Holding GmbH:

Challenges

In recent years, we’ve developed into a pioneer of digitalisation in the retail sector, but we can′t afford to rest on our laurels. Instead, we must constantly ask ourselves: “What offering or product will be the next game-changer? And what services will it require?” Maintaining our leading position requires both a willingness to change and customer focus. We have to permanently focus on the customer, keep on our toes, and rapidly develop in line with our customers’ needs.

Opportunities

Digitalisation opens up new opportunities for us every day. We’ve shown that click and collect is an opening with currently one in two online orders picked up in-store. We’ve shown that virtual reality is an opening and now offers many ways to experience new corresponding products and technologies.

The path to change

At Media-Saturn, we’re already doing a lot. Nevertheless, at some point someone will develop a new idea that will turn everything upside down. Therefore, as well as working on innovations ourselves, we also support retail-based start-upsand observe developments in the founder scene very closely.

Enrique Martinez, General Manager Fnac France:

Challenges

The main focus of our attention is on creating value in our product categories, from White Goods to Electronics, as well as in the Culture and Entertainment categories; innovation and the ability to promote these categories will be key. Assisting customers with online consumption is fully in keeping with the network of Fnac Darty stores, which have a large presence in our regions, especially in France.

Opportunities

Groupe Fnac Darty now represents a single platform for brands to offer a unique experience to customers, either in the stores or online, with over 600 retail stores. We intend to offer our customers an ecosystem of innovative and effective services, which will be strong differentiation factors.

The path to change

We have undergone an extensive process to transform our organisational structure and our retail stores over the last few years. Digitisation remains an economic challenge, as does adapting our logistics and operating tools. The industry needs to create value so that it can continue to invest not only in product innovation but also in the customer experience.

Jaan-Ivar Semlitsch, CEO Elkjop Nordic:

Challenges

Not delivering enough value to the customer and strong enough customer proposition. Making sure to become even more cost efficient, and keeping up to date with all new systems and tools. In addition, how to take into account falling footfall into the stores, and how to take this into account without losing customer focus. Moreover, putting enough resources into the organisation to develop the digital growth. Important also in a large retail organisation is to make sure we all have the same shared goals and the same set of values.

Opportunities

Innovation of products and services and therefore even more growth. In addition, seamless integration of online and offline, as well as opportunities to develop new customer segments and new growth areas. The advantage in our industry is that we will have new growth opportunities all the time, due to strong innovation. In addition, we have space in our stores to show these products. Moreover, there are big opportunities related to services and also owning the home/home installation.

Path to change

Being a strong market leader, but still remaining flexible, is important, while making sure we are doing enough to adapt. As always, all those in the organisation must have the mindset to be willing to adapt to new things, and implement this quickly.