A big thanks to Sydney University for inviting BGS NZ members to the Pivoting Business and Brand webinar last Wednesday.
We were able to watch Brian Walker, CEO and Founder, Retail Doctor Group, and Dr. Michelle Kam, Partner, Strategy, share their insights on the challenges and opportunities facing organisations responding to the changing needs of customers and markets. The discussion was led by Dr Sandra Peter, Director, Sydney Business Insights.
Some key takeaways from the session were:
***Online retail was not an economically profitable option for many stores, now it is not only profitable but may be necessary to survive and they need to demonstrate their UVP.
***As organisations adjust their business models to meet market changes, it's essential they take their employees on the journey. This includes up-skilling and partnering to utilise staff that need to be redeployed.
***Consumers have built trust in online stores and many will continue to shop online. The main exception being for large purchases and financial decisions where face to face discussions and advice are still an important part of the process.
For those who were not able to join the discussion, please find a recording of the webinar below:
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