Context: Digital transformation of the Retail for Consumer Industries (i.e. Food, Beverage & Personal Care; Apparel, Accessories & Footwear, Hardline, Consumer Electronics & DIY), has the potential to create an unparalleled level of business value, estimated at nearly $5 trillion, by 2025. Over the next decade, the concept of retail and how consumers shop will continue to transform and have significant impacts on the entire Retail for Consumer Industries with significant value at stake: over $1.1. Trillion of business impact and over $3 trillion of societal impact. (Source: WEF, Accenture “Value at stake study”, 2015). At the same time, there is a tension as emerging digital and technology trends (e.g. virtual reality, autonomous vehicles, IoT & connected devices, 3D printing, robotics, etc.) will fundamentally change how retail interacts with product brands by creating uncertainties and causing disruptions to current business and operating models.
Scope: Given the tension between opportunities and uncertainties, the objective of the project is to shape the possibilities of the business models, operating models and eco-systems that will emerge in an uncertain future for the Retail for Consumer Industries (i.e. Food, Beverage & Personal Care; Apparel, Accessories & Footwear, Hardline, Consumer Electronics & DIY).
For the first phase of this study (in 2016), we seek to answer the following key questions about the future of Retail for Consumer Industries:
Drive successful transformation of the Consumer Industries at a holistic level to be both economically sustainable and socially inclusive. This will be done through exposure of how retail can be re-imagined to engage suppliers, customers and communities through a whole new value proposition.