Digital technology is sparking a major transformation in retail. Embracing and driving innovation
offers a major challenge and a key opportunity for retailers. The four major European retail
associations, EuroCommerce, Euro Coop, European Retail Round Table (ERRT) and Independent
Retail Europe, therefore made “Innovation and how to drive it” the central theme of their first
European Retail Day in Brussels.
The event, which attracted over 200 participants, heard EU
Commission Vice-President Jyrki Katainen and a series of retail leaders speak on this theme.
Kenneth Bengtsson, President of EuroCommerce, said:
“Retailers have to innovate every day to meet consumers’ demands in a highly competitive market.
And to compete, they need a Single Market which works. More than 85% of the companies
interviewed in a recent study would invest more if the discriminatory barriers they faced were
removed.i The Single Market is key to creating jobs, growth, wider choice and lower prices for
consumers. Getting rid of such barriers is a key priority for retail - and for Europe as a whole.”
Colin Macleod, Vice-President of Euro Coop, commented:
“Retail is a central to many of the economic, social, and environmental dimensions of European life.
Driven by our commitment to serve consumers’ needs and interests, retailers are mastering
innovation in a highly competitive sector which is undergoing historic transformation, brought on by
digitalisation and social change. Our responsibility does not end at the cash register; it extends to
society, communities, the economy and the environment. As co-operative businesses, we have been
championing sustainable development for 170 years. However, the Single Market will only maximise
the value of the contribution of retail if it has a regulatory framework that acknowledges the specifics
of the various business models, their added-value and challenges. The inaugural European Retail Day
is an important step in the journey towards a stronger, more collaborative Europe.”
Frans Muller, President of ERRT, added:
“Retail is swiftly becoming more about data and less about selling stuff. These days, the collection of
data and data analytics allows retailers to bring ‘’know-your-customer-well’’ to the next level.
Advanced retailers are increasingly capable to predict what customers are interested in to buy. These
insights are highly valuable to optimize product assortment, marketing and foremost to personalise
the customer offering. This also touches upon the labour market. All over Europe, retailers are
increasingly confronted with a lack of digitally skilled workers. The EU could play a valuable role, by
creating awareness at the Member State level, that many attractive new digital jobs are up for grabs
in our sector. That it is therefore worthwhile to foster the acquisition of digital skills across education
and training pathways.”
Driven by digital technology, consumer behaviour and preferences are evolving. How retailers
respond to these fundamental shifts will be key to the future success of the sector. While technology
and digitalisation poses many challenges, they also have the power to be a force for good for
retailers, enabling shopping to continue to be a vibrant and exciting experience for consumers, both
in store and online. Today’s event provided for an insight into retailers’ positive response to the
digital transformation and their important contributions to a more sustainable and socially
responsible development.
Ralf Gerking, President of Independent Retail Europe, said:
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“Our group structures enable independent retailers to be innovative, modern and competitive
entrepreneurs. Groups of independent retailers now represent over 6 million jobs in the EU, thus
making a valuable contribution to the EU economy and to the diversity of the market, for added
choice for consumers. This diversity is part of our European cultural heritage and of the
attractiveness of European cities and towns. The retail sector therefore needs a targeted policy
package that enables all business models to be competitive on all channels and that supports a
diverse, fair, innovative, competitive and sustainable European retail market, with a chapter on
sustainable, modern and lively cities with a diverse retail offer.”
