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Leader or laggard: How ready is your retail business?

It's no secret that retail is changing. Incredible shifts and technological developments have altered the way we shop and interact. 

The pace will hardly slow. That begs the question: how should retailers prepare to understand their customers and thrive in sync with these ongoing changes?

A forward-thinking approach to surviving the changing retail landscape

Our dedication to understanding today’s consumers led us to a collaboration with two other agencies: Insider Trends, a retail futures agency and Evoke Creative, a digital interactive system designer, and manufacturer. Counting Google, Chanel, Marks & Spencer, House of Fraser and McDonalds as clients between them, these innovative companies share our forward-thinking approach to modern retail and technology and our dedication towards understanding the response required in order for retailers to thrive.

The result of this collaboration is an assessment titled Retail Readiness, primarily aimed at mature retailers with an already established presence. Consisting of 34 questions, the multiple-choice questionnaire aims to assist companies in evaluating how prepared they are for spotting and acting on new opportunities within the retail industry.

The questionnaire concentrates on the disciplines of Mindset, Enablement, Innovation Capability, Digital Hardware Capability and Store Design. Representatives from organisations will be asked questions on topics such as their customer interaction and experience, attitude to risk, recruitment strategies, home delivery capabilities and store flexibility; after which, they will be instantly presented with a personalised report that snapshots their status and position in the retail landscape, alongside a grading within each of the core disciplines. An overall grade and narrative will also be provided.

With these key grades and information in mind, retailers will have a deeper understanding of their status within the industry and will be able to create and commit to a development strategy that works for them and where they want to be.

Completely free to use without obligation, the assessment can be downloaded in pdf format and shared with colleagues for a greater understanding across the whole company. In addition, representatives at Retail Readiness will be on hand to discuss results in more detail for those looking for further insights into their standing.

The assessment should take around 20 minutes to complete, with the option of saving your progress and returning later available should you need it.

For further information, please visit the dedicated About Retail Readiness page. Alternatively, if you’re all set, start the assessment straight away for instant insights into your position in the world of retail.

Disclaimer: The statements and opinions expressed in this article are those of the author(s) and do not necessarily reflect the positions of Thoughtworks.

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