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During the last few decades, the Retail and Consumer Industry has been characterized by a highly competitive landscape as a result of technological advancements in the space. Products ranging from food to electronics traded among the years through department stores, supermarkets and warehouses, are now being sold increasingly through online websites and mobile applications. Traditional retailers must deal with challenging markets that are undergoing dynamic shifts and presenting constant challenges to the existing business models. Due to rapidly changing needs and preferences of the customers and their declining loyalty to brands and products, retail businesses are having to rethink their strategy on how to develop and grow.
To be able to keep their market share and maintain their profit margin, retailers need to find new innovative ways of adapting their business model to these changes. In the consumer industry, adjusting to new consumer needs, offering a variety of products for a wide range of customers, and finding new ways of minimizing cost while maximizing quality, have become more of a necessity than a competitive advantage.
How PwC can help
PwC's Consumer markets is a leading financial accounting, tax and advisory practice serving a broad spectrum of service, merchandising and manufacturing organizations. High-growth tech start-ups, food manufacturers, airlines, hotels and retail outlets are among countless organizations that rely on our integrated knowledge and tailored solutions to succeed nationally or globally.
At PwC, we understand the challenges and we see the opportunities—addressing change at the convergence of powerful industries is where we thrive. PwC’s multi-disciplinary, global team of consulting, tax and assurance professionals can help you turn innovation into practice and practice into growth.
Connect with us today.
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