Things are changing fast in the retail landscape, and it’s time to adapt quickly or fail to catch up to market opportunities. We had a fascinating interview with Paul Waddy, Operations Manager of Showpo, on the urgency of being agile in the present retail industry.
We hope retailers would take note of these important insights. You’ll find yourself more equipped with the knowledge and drive to succeed in business as you attend the upcoming New Retail ’19. Book your seats now to secure your spot at the event!
The market is becoming more free and open for smaller players to compete, compared to when I started out 15 years ago when all the best commercial real estate, marketing opportunities and prices were reserved for the big end of town.
RLC: What are some of the most innovative or intriguing things you’re seeing in retail at the moment?
Paul: Many things! I’m intrigued by the growth of marketplaces in Australia, from Amazon, to The Iconic, to eBay. The challenge is how to use these marketplaces for profitable growth. I’m also interested to see the battle that’s going on for the final mile in delivery in Australia, and the way retailers and service providers are tackling returns, which is an often neglected part of the supply chain.
RLC: What do you see for the retail industry moving forward over the next 2-5 years?
Paul: Faster delivery, whether it be from pure-play online retailers or stores doing fulfilment from stores. I expect we haven’t even come close to seeing the full force of eCommerce in Australia, and those traditional retailers who fail to be agile and make moves in this space will suffer.
Check out Showpo’s Instagram for fashion and lifestyle inspiration
RLC: What do you hope to see more in the retail industry and how do you want the industry to move forward?
Paul: I hope to see more fresh blood in retail, with energetic retailers who are prepared to think outside the box, particularly in the online space taking market share that has previously been reserved for the big players. The market is becoming more free and open for smaller players to compete, compared to when I started out 15 years ago when all the best commercial real estate, marketing opportunities and prices were reserved for the big end of town.
RLC: What do you think retailers could do to improve their business to continue to stay ahead of the market?
Paul: Look beyond Australia and start exporting. Around 30% of Showpo’s revenue comes from export, and with the world getting smaller through improved logistics and returns experiences, Australian businesses can start seriously competing on an international stage.
RLC: What kind of knowledge and inspiration can attendees at the upcoming New Retail ’19 event expect from you?
Paul: I’ll be talking about how and why Showpo went from 3PL to 1PL in 5 weeks, and how we have improved our business and processes to prepare for our next growth phase. I’ll also be talking about our improvements in technology, data and customer happiness.
Paul is the Operations Manager of Showpo, a leading global fashion platform in the industry. He has more than a decade of experience in owning and operating businesses, boosting growth, and expanding to omnichannel opportunities. He is the NED for both Antoine & Stanley, and Independent Community Living Australia (ICLA).
Join Paul Waddy at New Retail ’19 this coming February at the retail capital of Melbourne. Get the knowledge you can’t find anywhere else from more than 70 speakers and network with thousands of delegates at this biggest gathering in retail. Book your seats now or partner with us at this conference you can’t miss out!