Expert Talk: Missing the Boat on Digitalization—What can Retailers and Suppliers do Now?

Reports of difficult market conditions are becoming increasingly common. Department stores, mail order companies, and fashion retailers are having to lay off employees, close stores, or go bankrupt. It is striking that these problems mainly affect brick-and-mortar retailers. What exactly has happened here? Who is responsible for these bankruptcies? What role does or did digitalization play in this?

To answer these questions, we were able to secure Stephan Ruggle, managing director of the management consultancy ruggle management ag, for our Expert Talk in May 2023. With many years of experience in management positions and as former CEO of companies such as Intersport PSC Holding AG and Dosenbach Ochsner AG, he has extensive expert knowledge from years of corporate practice. His work as a management consultant and sparring partner for his clients gives him deep insights into a wide variety of current corporate structures. With this accumulated knowledge, he can provide excellent structured and honest insights into the market. His appeal is clear: digitalization is absolutely necessary in all industries.

Why corporate progress fails

Although mail order companies and department stores have many years of experience in retail and presumably have a good customer base and established processes, many have simply missed the boat when it comes to the digital world. Without innovation and clear positioning, many companies have become interchangeable and lost customers on their customer journey. What is often missing here is the courage to take the decisive step and an awareness of the importance of the modern marketplace. The basis for a successful digital business is also often consistently neglected—high-quality, complete, and available product data.

But what options are available to companies that have not yet addressed digitalization in all its facets, or have done so only inadequately? Which processes must be initiated without fail, and what risks and opportunities exist? One of the key questions that needs to be clarified is who is responsible for taking bold steps forward and potentially saving the company from bankruptcy, and for what reasons.

Courage and action are the keys to success

This raises some exciting questions that are crucial for companies. What role do change management, transformation and process improvements, brand identities, and entrepreneurial confidence play in this digital transformation? What influence do trends such as direct-to-consumer (D2C) have on the current retail market? All of these topics were covered in our exciting and inspiring Expert Talk. Click here to watch it now!

We are already looking forward to the next Expert Talk with Stefan Wenzel on the topic of “Operational Excellence in the Platform Business: Growth at Any Price?” Will you be joining us again?