The recession will not completely alter the high street landscape despite groundwork put in by firms such as Tesco, a new report out today claims.
According to the KPMG/Synovate Retail Think Tank report, a few large retailers will not dominate the sector in the next few years – a trend that has been predicted by analysts following a hard Christmas.
The publication found that “there will always be constraints, which prevent the sector becoming dominated by a very small group of big companies”.
And some of the largest firms in the world, it said, such as Wal-Mart and Tesco, have managed to maintain growth due to their ability to “overcome” obstacles.
Yet large retailers must maintain “cohesion” and “focus” as they get bigger, meaning strong leadership is crucial, the paper added.
KPMG and Synovate concluded: “Retail remains varied and competitive and there will continue to be a role for niche players despite the continued, exceptional growth of the very biggest companies.”
Another report out this week from CIES found that the economy has overtaken corporate responsibility as grocery retailers’ biggest concern.
