Blog: Europe is not the world
Petah Marian | 19 September 2012
The global retail industry is looking to London over the next three days as senior executives converge on the city to discuss the issues facing the sector at the World Retail Congress.
Of late, many of the stories about UK retail in particular have focused on doom and gloom, after the Olympics failed to provide retailers with a much anticipated sales boost.
However, in his keynote speech this morning, Sir Roger Carr, president of the Confederation of British Industry (CBI), emphasised "the condition of Europe is not the condition of the world".
Countries like China, India and Africa are enjoying the kind of growth that the West can only dream about, he explained.
However, the astronomical growth seen in these countries is now moderating, with Carr describing a "reduced appetite for luxury" in many of these emerging markets.
And with growth in these markets slowing, a presence here is no definite recipe for success. Regardless of which markets retailers are operating in, or looking to operate in, it is clear that they have a "fight on their hands" for consumers' hearts and minds, argued Carr.
Slowing growth is not the only challenge retailers have to contend with. As Tesco CEO Philip Clarke said in his speech this morning: "Change is increasingly complex", and includes the shift online and the pursuit of a true omnichannel offer.
These and many more issues will be discussed by some of the brightest minds in the business over the next three days - with just-style here to bring you the latest insight as it emerges.
…Nike, at least according to Forbes. Its annual ranking of the top 100 most valuable companies is not surprisingly dominated by technology brands – led by Apple in the number one slot. But plenty of c...
Innovation was the hot topic last week as a raft of apparel and textile companies revealed new fabrics, fibres and technologies designed to shake-up the industry. ...
Textured Jersey Lanka has again been recognised at the World Textile Awards sponsored by The Textile Institute, being named ‘Dyer & Finisher of the Year’ for the second year running....
- Yarn-forward rules weigh on Vietnam TPP potential
- Footwear to see "significant" gains from TPP
- Is China really going through a slump?
- UK retailers key to domestic manufacturing growth
- Can supplier ratings reform purchasing practices?
- Gap to close 75 stores amid "disastrous" Q1
- H&M criticised for India, Cambodia labour abuses
- M&S to see "departure" of sourcing chiefs?
- US Q1 in brief: Buckle, Destination XL
- C&A steps up sustainability at top-rated suppliers