Magazines Archives - 2011 September

Managing during economic uncertainty: What Asian retailers need to do to hold up
Story 1 - One Viewpoint

As the global economy outlook turns gloomy and uncertainties proliferate, Asian economies have expectedly descended into a downbeat mood. Obviously, what works in fair weather is unlikely to be adequate to cope with the vagaries of the impending economic storm. How can Asian retailers brace themselves for the market turmoil if and when it hits? Industry analysts point out that it essentially boils down to basics: Contingency planning vis-à-vis anticipated change; aligning value proposition to change; and forging synergistic collaboration. Straightforward, but it is not that simple. It requires strong leadership, hard work and, more importantly, plenty of out-of-the-box innovative thinking.

by Steven HL Goh

Steven HL Goh is the executive chairman of RETAIL ASIA. He is also CEO of The Business Company, a consulting firm advising multinational retailers on retail strategies and business development opportunities in the Asia-Pacific.

To view full story, get a copy of Retail Asia. To subscribe, please download the subscription form from http://www.retailasiaonline.com/subscription.html