Retail drives global and local economy
Prof. Prof. E. h. (RUS) Dr. Bernd Hallier
Prof. Dr. Bernd Hallier, head of the EHI Retail Institute, reports on the meaning of retail for global and local economy as well as on the latest trends in the retail environment during the opening press conference of Euroshop 2008.
German retailers invest 5 billion Euros annually in new store development and revamps, mainly in improved cooling and refrigeration systems as well as innovative lighting concepts. Investment in these areas is not only targeted at improving merchandise presentation, but also on cost reduction through energy-saving and environmental protection.
The way customers are addressed is being forged ahead by the digitisation of POS: prices can be updated in the shortest time and the client can gather detailed information about each product characteristic.
According to EHI, the reason for local investment lies in defending against so called ‘hostile take-overs` or also in adjusting to new corporate designs. Internationally big retail chains aim to persistently occupy new locations.
Opportunities for agriculture are also recognised by Prof. Bernd Hallier, especially beyond Europe: ‘Investments in India, for example, are made by the three biggest corporations – Pantaloon, Reliance Group and Shopper’s Stop who will invest 5 billon each over the next 4-5 years in the building of retail networks. Their CEOs of which will gather information at the Euroshop over the next few days about new store structure concepts’.
According to Bernd Halliers, Düsseldorf is the ideal location for the world’s biggest retail trade fair. After all, the city is the center of the region with the largest concentration of retail head-offices in the world and therefore one of the biggest economic factors in North Rhine-Westphalia.