In this interview, Matt Dalton, Head of the consumer sector, is joined by Jane Gilmore, Employment Tax Associate Director, to discuss the upcoming changes to the National Living Wage (NLW) and National Minimum Wage (NMW) and how these will affect retailers and the consumer sector at large.
The Retail Jobs Alliance warns that over 300,000 retail jobs could be at risk by 2028 due to rising costs, including increases in National Insurance Contributions and National Minimum Wage rates.
Commenting on the latest ONS retail sales figures, Matt Dalton, Consumer Sector Leader, said:
Technology based solutions to supplier engagement offer a range of capabilities that support consumer businesses in addressing sustainability challenges in their supply chain, by promoting transparency, accountability, and collaboration.
In recent years, the consumer sector has experienced an exponential rise in online retail, which led to a need for significant digital transformation. With companies now aiming to accelerate sustainable practices, the optimisation of digital tools is key to leading this revolution.
Discussions on how Artificial Intelligence (AI) will impact the retail sector is rampant, but that is not the only tool retailers are looking at to improve their customer experience.
The FCA’s Consumer Duty rules came into effect on 31 July 2023. Firms seeking FCA authorisation will need to demonstrate compliance with the Consumer Duty in their applications. This may be a challenging requirement for firms, including retailers, that are new to financial services or launching new products or services.
Finding a physical store location allows retailers to build on their online brand image and reinforce their customer loyalty. However, the nuances of the UK retail real estate market mean that retailers will need support to navigate the choices of available locations and associated obligations of taking onerous leases.
Ben Affleck’s latest film ‘Air’ illustrates the impact of influencer power over consumers. The film details Michael Jordan’s 1984 association with Nike that led to the best-selling Air Jordan trainer.
Faced with high inflation and a cost-of-living-crisis, retailers are under significant pressure. What steps can supply chain leaders take to help their businesses stay profitable?
We tricked our way into the head office of a high street retailer.
During the pandemic, retailers rushed to sell their products online, a move which saved many from going bust. Now, just a short time on from a worldwide health crisis, some retailers are heading the other way, realising they need a bricks-and-mortar presence if they are to remain in business.
Retailers rapidly responded to the pandemic by digitally transforming and need to make sure internal control environments have evolved at the same pace.
The landscape for retail boards is more challenging and complex than ever. Aside from uncertainty caused by the pandemic, the retail sector is confronted with the climate change agenda, supply chain realignment, cybercrime and data security.
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