Company News • 10.04.2015

UK retail: One of the fastest growing sectors for management consultants

Multi-channel challenges and the threat of hard discounters sees UK retail turn to more consultants

Edward Haigh, Director of Source Information Services....
Edward Haigh, Director of Source Information Services.
Source: Source Information Services

Multi-channel challenges and the threat of hard discounters has driven up the use of management consultants in UK retail. The retail sector’s increasing use of consultants was one of the fastest in 2014 - up 9.7 per cent to £253million.

The report by Source Information Services (Source) highlights that the global challenges of grappling with multi-channel and online competitors are compounded in the UK by the competitive threat posed by the hard discounters. The likes of  Morrisons (which recently saw its profits halve) are finding their position in the market under increasing pressure, as the aggressive strategies of stores like Aldi and Lidl take market share - resulting in established grocers turning to management consultants to try and claw back some of the lost ground. 

Edward Haigh, Director of Source Information Services said: “Retail clients are particularly focused on business strategy as a result of the increased threat of hard discounters, which has made cutting costs, and the need to make the most of new technology a big priority. This is making them more inclined to use consultants to achieve these goals.”

The Source report also explains that the expected government regulation as a result of reported behaviour to small suppliers by Tesco, B&Q and LIDL is also likely to drive up the use of management consultants. 

James Brown, Partner of Simon-Kucher & Partners added: “I think there will be a lot of interest in the 'post-Tesco' retail environment following the trouble they've had. There's certainly a reshaping of the British grocery market going on. Retailers and their suppliers are looking at new ways of doing business, and they will be looking to consultancies to support them.”

Edward Haigh from Source concluded: “The only problem that consulting firms operating in the retail sector will find is that some clients are only making wafer-thin margins, so price is an ongoing issue. This isn’t helped by the intense competition between firms bidding to win large programmes.”

Source: Source Information Services

related articles:

popular articles:

Thumbnail-Photo: How efficient is your workforce management?
24.04.2024   #workforce deployment #workforce management

How efficient is your workforce management?

Workforce management software in retail is successful when it optimizes processes, increases employee satisfaction, and improves ...

Thumbnail-Photo: Intertraffic Amsterdam exhibits ITL innovations ideal for the transport...
02.04.2024   #artificial intelligence #cash handling systems

Intertraffic Amsterdam exhibits ITL innovations ideal for the transport sector

Innovative Technology Ltd (ITL) are set to demo their cash handling and AI powered biometric products to the parking ...

Thumbnail-Photo: SES-imagotag becomes VusionGroup
29.01.2024   #software applications #artificial intelligence

SES-imagotag becomes VusionGroup

A new identity highlighting the broader portfolio of innovative solutions
developed by the Group to solve the major challenges of physical commerce

SES-imagotag (Euronext: SESL, FR0010282822), the global leader in digital solutions for physical commerce, today announced that it has changed its name to VusionGroup. This new name embodies the various product lines and solutions that have enhanced ...

Thumbnail-Photo: First of its kind accessible checkout unveild by Woolworths, creating...
03.01.2024   #Tech in Retail #cashpoints

First of its kind accessible checkout unveild by Woolworths, creating new employment opportunities

Breaking Barriers in Retail: Woolworths' New Checkout Design for Wheelchair Users

In what is believed to be a world first, Woolworths has unveiled an accessible checkout, designed specifically for team members living with a physical disability, including people who use wheelchairs and other mobility aids such as walkers.The first ...

Thumbnail-Photo: Record numbers for ITL at EuroCIS retail show in Düsseldorf...
07.03.2024   #self-checkout systems #POS software

Record numbers for ITL at EuroCIS retail show in Düsseldorf

Innovative Technology (ITL) reported a successful EuroCIS in Düsseldorf last week, where the organisers announced record visitor numbers. EuroCIS provides an exclusive hotspot for Retail Technology in Europe, ...

Thumbnail-Photo: Classic POS reimagined
14.03.2024   #POS systems #printers

Classic POS reimagined

Introducing the new generation CT-S801III and CT-S851III
POS printer range.

Citizen Systems launches new CT-S801III ...

Thumbnail-Photo: EuroCIS Germany next stop for ITL’s cash handling and age verification...
13.02.2024   #Tech in Retail #artificial intelligence

EuroCIS Germany next stop for ITL’s cash handling and age verification solutions

Innovative Technology Ltd (ITL) will be joining retail suppliers and industry professionals at ‘EuroShop 2024 – the leading trade fair for retail technology’ which takes place in Düsseldorf, Germany from ...

Thumbnail-Photo: Ask the Bot: generative AI in retail
02.01.2024   #Tech in Retail #food retail

Ask the Bot: generative AI in retail

Revolution in retail: the era of generative AI and AI bots

They are able to analyse data, write product descriptions, answer shoppers’ questions or write codes...

Thumbnail-Photo: ‘Problem-solving mission’ with updated Modern Store Framework...
16.02.2024   #Tech in Retail #personnel management

‘Problem-solving mission’ with updated Modern Store Framework

Zebra Technologies will be looking to address challenges with expertise and new solutions at EuroCIS

Zebra Technologies Corporation (NASDAQ: ZBRA), a leading digital solution provider enabling businesses to intelligently connect data, assets, and people, today announced it’s taking the newly enhanced Modern Store framework on a ‘problem ...

Thumbnail-Photo: Tesco to introduce new scan-free technology on self-service tills at...
03.01.2024   #brick and mortar retail #Tech in Retail

Tesco to introduce new scan-free technology on self-service tills at GetGo store

Seamless Shopping Revolution: Tesco Tests Scan-Free Technology in London

Tesco is trialling an exciting new technology innovation that means customers don’t need to scan their items ...

Supplier

SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal
Innovative Technology Ltd.
Innovative Technology Ltd.
Innovative Business Park
OL1 4EQ Oldham
VusionGroup SA
VusionGroup SA
55 place Nelson Mandela
90000 Nanterre
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Ernst-Dietrich-Platz 2
40882 Ratingen