Money is now becoming scarce. The pandemic destroyed supply chains and consumer sentiment, the war in Ukraine is causing energy shortages and high inflation. Consumers are becoming more price sensitive. And while some companies are downsizing their workforce, others are desperately looking for employees.

What should retailers do when costs rise and margins shrink? Streamline offerings, robotise services, stop sustainability initiatives? Optimise the present now – or invest in the future? What to do? And even more importantly, what not to do?

“More focus!” is the magic formula. For retailers, this means setting bold priorities, implementing rigorous decisions and taking responsibility: not just for the shelves, but also for the people – customers and employees – in order to build trust.

At the 73rd International Retail Summit, we will explain why the ability to focus is one of the most important management competencies in retailing. Thought leaders, retail pioneers and top managers will discuss questions such as:

• Less is more: How does streamlining the focus help retailers to become more employee- and customer-centric?
• Curating versus reacting: Do successful retailers shape customers’ preferences through their ranges – or do they merely address existing customer needs better than the competition?
• Product, service or experience: What do retailers need to focus on when customer journeys become immersive experiences between physical and digital worlds?
• Human versus machine: How does a human-centred approach focusing on customers’ and employees’ needs unlock the true potential of automation?
• Way out of the crisis: Which innovations really help retailers thrive in the recession?