Life in the old High Street yet, Mindtree

These are not dark days for UK retail, despite what the mainstream media might have us believe.

That’s the view of Anil Gandharve, VP and Global Head of Retail, CPG and Manufacturing, Mindtree. In a comment piece for RTIH, he says: “The market is simply readjusting to meet the new needs of today’s digitally savvy consumers. Other retailers can use this as an opportunity to learn from the recent mistakes made by fallen High Street giants.”

Retailers need to understand the changing purpose of the physical store in the mobile first digital age, Gandharve argues. “Grasping the opportunities presented by various new technologies means galvanising them. In particular, the careful maintenance of a balance between the benefits of mobile and digital technology and the reassuring emotional connection of human face-to-face interaction in stores will enable retailers to offer a truly innovative in-store experience.”

He adds: “Today’s consumers are more demanding and better informed than ever before. Consequently, retailers need to restructure significant parts of their supply chain to meet these new demands. Failing to do so could well see other big names wander down the same path as Toys R Us, Maplin and Carpetright, all of which were incapable of responding to today’s more agile e-commerce landscape.”