Summary
Executives in the retail industry face many critical strategic questions in 2015. Here, L.E.K. Consulting shares its views on the current state of the industry, as well as the biggest challenges and opportunities for retailers.
What is the Current State of the U.S. Retail Industry?
This industry is a mixed bag. Players of all types must constantly work to solidify their place as a compelling choice for consumers while the rules and landscape around them changes. Broadly, retailers like off-price, club and some segments of specialty are doing well, while others such as teen, consumer electronics big box, and large and small box multi-brand concepts are struggling. That said, there are both winners and losers in every segment of retail, so it comes down to how well a business delivers on consumers’ needs and creates true value-add, relative to the many alternatives available to them.
We believe the industry will be in a major state of transition for the foreseeable future. In five to 10 years, the retail world will look very different than it does today, and the right strategies that will enable retailers to succeed along this path are still being defined.
Download the full Executive Insights' "State of the Industry" report to read more about the current state of the industry and burning issues that senior executives are facing: Full Report.
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