Asda's Bond: Retailers must adapt to recession |
| Thursday, 11 December 2008 | |
 Retailers who do not adapt to the recession and become more transparent will find it tough to survive, Asda's Andy Bond has said.Bond argued the "age of conspicuous consumption is over" and there will be fundamental changes to the industry because consumers are to reject waste in the future. The assertion came after IGD said the global economic crisis will not all the move towards greener operating practices by supermarkets. He commented: "The new emerging consumer will demand more value for money than ever before and genuine price transparency. Retailers will have to respond by adapting their business models." Retailers who are honest about the ways in which they pass on savings to consumers will ultimately win, Bond said. Forum for the Future this year released a report claiming that retailers do not plan to abandon their green credentials despite the onset of the credit crunch. In a warning to politicians over possible legislation, Bond added: "Government needs to stimulate competition by carrying through the proposed reforms to the planning system and at the same time resist the temptation to bind retailers in red tape, codes of practice and ombudsmen." Related Articles
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