Value vs values defining the retail landscape

Consumer demands for responsible brands and retail is continuing to inform strategies across the sector.

The tension between value vs values requires a delicate balancing act for retailers as consumers continue to look for the best deal while being increasingly mindful of the impact businesses and brands are having on the wider world.

While the growth of self-centrism has governed consumer behaviour for some time now, the additional drivers of health, home, habit and hygiene - stimulated by the disruption of the pandemic - have become more pronounced. Add to that the increased social conscience amongst consumers and a complicated mix of factors is now at play.

This means retailers need to look across the whole value chain of their business. While pivoting to online has gained the most attention in recent months, the transformation challenge is much larger encompassing everything from the proposition of the business through to the shape of its workforce.

The potential rewards are huge and those that move quickest, act with agility and position themselves to respond quickly as consumer priorities evolve, will likely emerge ahead of the competition.