Penrhyn launches the latest white paper from its Consumer, Retail and Luxury (CRL) Group: "Embracing Change to Seize Opportunities in the Consumer Products Sector", authored by Cynthia Labonté (Chair, CRL Group and Partner, Leaders International (Canada)).
The white paper details how consumers’ expectations about their customer experience will continue to change radically over the next few years, where they often want products at a lower price point, delivered faster and with greater convenience at no extra cost. It then asks: how will consumer products companies turn these challenges into opportunities?
To respond to changing demand, forward-looking businesses across the sector are focusing their strategies on a number of key consumer trends, explored in this report. Key takeaways include:
- Technologies like smart dressing rooms are helping retailers to reinvent the customer experience;
- Use of big data and analytics to provide deeper insights into consumer behaviour is a key area of focus;
- Innovation in route-to-market concepts can help companies stay ahead of the competition;
- More businesses are set to push ahead with direct-to-consumer strategies to bypass retailers;
- Emerging economies and a growing global middle class are creating important new markets;
- Brands are waking up to the power of diversity and inclusion messages;
- Responsible, eco-friendly consumerism is becoming more mainstream;
CRL Group Chair Cynthia Labonté comments: "Emerging technologies, shifting demographics, evolving consumer preferences and increased environmental awareness are all driving radical change in consumer products markets."
Penrhyn announces the launch of its new global Consumer, Retail and Luxury practice group.
This new group comprising prominent search experts in the consumer, retail and luxury goods field has been created to help dynamic organisations find senior leaders with the ability to drive innovation, create sustainable growth and adapt to rapid and constant change.
Penrhyn’s Consumer, Retail and Luxury group has executive search specialists across the world, including in Canada, the US, UK, Austria, France, Denmark, Belgium, Singapore and Australia.
While retailers face the challenge of adapting to the new reality of e-commerce and digital innovation, our Consumer, Retail and Luxury sector specialists understand the qualities that senior leaders need in this changing world.
The group is led by Cynthia Labonté, Partner at Leaders International, a leading pan-Canadian executive search firm.
Cynthia says: “These are challenging times for the consumer, retail and luxury sector as it strives to create seamless shopping experiences and adapt to advances in technology.
“To successfully compete on the global stage, companies need robust digital strategies and strong brands. Businesses need to act quickly to find leaders who thrive on digital innovation, can master data analytics and understand how it translates to consumer behavior.
“While retailers face the challenge of adapting to the new reality of e-commerce and digital innovation, our Consumer, Retail and Luxury sector specialists understand the qualities that senior leaders need in this changing world.
“Our distinctive approach is tailored to meet these increasingly complex talent requirements and goes beyond traditional search and recruitment methods. Through long-term trusted relationships we can act as a strategic partner to help businesses harness the transformative opportunities digital innovation is bringing to the sector.”
Penrhyn Chairman Michael Herst comments: “Penrhyn’s global reach combined with our extensive knowledge and expertise in the Consumer, Retail and Luxury field means we can provide industry leading search professionals who can support businesses to build highly effective leadership teams in today’s competitive markets.”