JOIN US @ THE RETAIL LEADERS CONFERENCE – TRLC 2018 (5TH EDITION)

 

Theme: THE FUTURE OF RETAIL 2.0 – INNOVATE OR PERISH!
Date: June 21, 2018
Venue: Eko Hotel &Suites, Victoria Island, Lagos Nigeria

 

The Retail Leaders Conference (TRLC) as Nigeria’s preeminent gathering of Retail Thought and Practice Leaders continues to guide the emerging retail industry along its best transformation path. The Conference is the ultimate go-to event for retail and retailing in Nigeria.

The 5th edition of TRLC taking place at the Eko Hotel &Suites, Victoria Island, Lagos Nigeria on June 21, 2018 promises to be bigger, better and is sure to host even more exciting opportunities for retail businesses and industry stakeholders with the theme: THE FUTURE OF RETAIL 2.0 – INNOVATE OR PERISH!

The theme “The Future of Retail in Nigeria 2.0 – Innovate or Perish” was chosen primarily to draw retailers’ attention to the key issues of the coming onslaught of today’s consumer amidst the dynamic retail environment and how retailers can innovatively engage to be profitable, grow and become sustainable enterprises well into the future. We expect participants to leave the Conference with clear actionable insights and responsibilities.

The Plenary
At Plenaries, keynote speakers will address key areas of innovation opportunities and how through innovation retailers can drive sustainable business success and prosperity well into the future

The Platform
TRLC 2018 Platform shall be slightly different in terms of format and execution. Instead of the usual presentation style adopted by previous TRLCs’ Platforms, a Panel discussion style with greater involvement and participation of our respected participants and leaders present have been favoured.

There are 7 key areas that we have identified where retailers must innovate to be guaranteed a prosperous and successful future. These areas we have coined into the acronym “L.E.A.D.E.R.S.”- The New Pillars of Retail Success and will be well discussed by select industry experts.

 

Retail Awards & Recognition (New)
As part of our commitment to promoting the growth and development of the retail industry in Nigeria, we are introducing the Retail Awards & Recognition platform into The Retail Leaders Conference. Retail Recognitions & Awards platform is dedicated to recognizing, celebrating and rewarding retail individuals and businesses that have made invaluable contributions to the growth and development of the Nigerian retail industry.

Please join us to celebrate our retail generals, heroes and heroines of the Nigerian retail industry.

 

Participation Opportunities

 

 

TRLC 2018 Background
We live in very uncertain economic times. The economic environment is changing. Retail is changing and customer expectations are changing. People expect everything to be easy and seamless right there, right now.  There is also the very tough and difficult business environment and the continued pressure on revenues.

The Nigeria retail industry is experiencing a period of tectonic revolution rather than evolution. Traditional retailers are being forced to undergo drastic changes in order to remain relevant amid a shifting retail landscape. Three things characterize the current retail revolution: traditional retailers are undergoing huge changes, emerging players in different segments are increasing competition and higher e-commerce penetration is challenging brick-and-mortar retailers. However, we remain optimistic that the retail industry in Nigeria is in a transitional stage that will help reshape it beneficially over the long term.

 

In different retail cycles, the discussions often center on key issues such as:

  • the tough and difficult operating economic environment;
  • struggling and disappearing retail businesses;
  • shoppers and consumers that have become increasingly more powerful and demanding;
  • trends in in-store, e-commerce and omnichannel retailing; and
  • the influence of millennials.

These discussions often boils down to answering the difficult questions of retail business survival, sustainability and growth. Though, reliable crystal ball for correctly predicting future changes still awaits invention, it is a law of nature that those who can successfully adapt by innovating will survive and prosper as much the same way as those who do not will fail and perish.

As the speed of change within today’s market and the nature of store changes, retailers must search for new ideas and ways of doing business and speed of execution that will guarantee their long-term survival, prosperity and growth. For instance, while retail commerce is still overwhelmingly in-store, the very notion that “in-store” and “e-commerce” are discrete has begun to dissolve. Globally, big stores are trying to figure out how to engage customers on web and smartphones while web-native retailers like Amazon and eBay are extending their services into in-store territory with same-day fulfilment options.

 

 

For today’s retailers therefore, only one thing is certain. Change! To remain relevant, survive, be profitable and grow sustainably, retailers must be willing to embrace change and innovate to meet the needs of today’s consumers.

A look at the list of the top 10 Nigeria retailers in 2007 – 2017 decade, reveals significant shifts in power in the industry. Given the current accelerating pace of change, we expect to see new names added to the list while some current members will unfortunately vanish from the list over the next 10 years. Who will join and who will vanish from the list?

To be guaranteed a place however, retailers must commit to embracing change and innovation because their long term sustainable competitive advantage will always come from finding new ways to excel and exceed customer expectations providing them with better experiences across all touch points.

For instance, retailers must innovate around the way they collect data, analyse data, use the insights derived to drive decisions and actions that serves the customer better as well as maximizes value from the relationship. In addition, retailers must also innovate around creating the right environment that encourages and motivates employee retention and loyalty. Retailers must also innovate in the area creating better experiences that appeals to the needs and desires of today’s shoppers and consumers that have become increasingly more powerful and demanding. However, this will only be possible to the extent that retail businesses are relying on apposite retail technologies, driven by visionary and innovative leadership, and well skilled employees operating within a system that is nimble, efficient and effective.

 

 

Critical areas where retailers must innovate:

  • Retail visionary leadership;
  • Employee recruitment, development, engagement and motivation;
  • Retail strategy development and execution;
  • Customer relationship and engagement;
  • Customer service delivery and experiences management;
  • Product assortment, sourcing and supply chain management
  • Process efficiency and effectiveness
  • Technology acquisition, deployment & optimization.
  • Retail partnerships with key actors and stakeholders like financial institutions, suppliers and government

To create a future of guaranteed success, retailers need transformational innovations: innovations over the heads of competition, coloured in surprises for the competition and customers, innovations that are magnificent, visionary, right, timely and perfectly executed to serve customers better. By embracing innovation, new thinking, new skills acquisition, new ways of working, and the right technologies, retailers are able to see, create and harness a future of new and significant opportunities for profitability and growth.

Who will innovate to survive, prosper and grow sustainably to harness future opportunities; and who will perish?

This Conference will address some of these issues and adopt solutions to set retail on the journey to a prosperous and fun-filled future.

 

 

TRLC 2018 will build on the successes of the past editions of TRLC and we expect participants to leave the Conference with clear actionable insights and responsibilities.

 

For more information, call or email us, or visit our website today.

The Conference Secretariat
3B Hakeem Dickson Road, Lekki Phase 1, Lagos Nigeria
+234 1 291 7328, +234 803 343 4776, +234 809 334 4776, +234 808 933 8444
info@bervidson.com, www.retailleadersconference.com


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