Insights into the changing retail landscape from a roundtable lunch with Australian industry icons Paul Greenberg (Executive Chairman of NORA.org.au and co-founder of DealsDirect) and Michael McRitchie (Managing Director of Satellite Office).

1. NEW RETAIL
Strategies for Success in a Rapidly
Changing Retail Market

2. On the 7th March BridgePoint Group hosted a roundtable lunch
featuring keynote speakers Paul Greenberg and Michael McRitchie.
On the following pages, we share insights from the day.

3. The global economy is upon us
•
•
The Australian economy is undergoing a structural shift, as the world
seeks to allocate scare resources more efficiently.
International brands can easily access Australian consumers and vice versa

4. Consumers have more power than ever before
•
The internet has allowed consumers to be better educated about value
• Consumers can source product from anywhere in the world
• Consumers trust what others have to say about you on social media

5. The fundamentals of a good business remain the same
•
•
Give the consumers what they want, where and when they want it
• Create value they will love
It is still about making money –a fair margin that results in a profit

6. Change is happening all the time
•
Change will continue to happen – get used to it!
• Choose to see change as a new opportunity

7. The bricks and mortar retail store is not dead!
•
• It has just changed!
• Consumers still love the shopping experience
Some ‘online’ businesses are now looking for a physical presence to
reinforce their brand

8. Become a learning organisation (part 1)
•
• Be aware of what is happening around you
Look for lessons from other industries that could work for you
• Be prepared to experiment to see what works

9. Become a learning organisation (part 2)
•
Seek to understand the data that you collect
• Listen to your customers
• Be prepared to adapt

10. www.bridgepointgroup.com.au
Copyright BridgePoint Group Pty Ltd 2014