Over the years, retail and consumer product companies have competed in a rapidly evolving industry. International expansion, e-commerce, cybersecurity concerns and changes in the supply chain have companies transforming their operations and business models to keep up with the latest developments.
Retail and wholesale businesses have been experiencing pervasive competition. Technology is continuing to drive dramatic changes in consumer behaviour and buying patterns. The revolution in online retailing has enabled businesses to access significant numbers of potential new customers faster and with less investment than ever before. This technology advancements combined with rapidly changing market requires businesses to adopt and respond to the market demand more accurately and promptly. The businesses need to be more perceptive and innovative in the face of these ever- changing consumer preferences. Further, adjustments and modifications of business models to address the impact of these new developments are necessary.
The task is ongoing to maintain effective margins by enhancing visibility and investing in technology to deliver efficiencies in their business processes. BDO helps our clients identify margin opportunities and cost efficiencies so that they can remain price competitive and profitable.
BDO’s consumer business expertise combines the retail, tourism, leisure and hospitality industries. We have a thorough understanding of the sector as a whole and a deep level of expertise in each industry area.
As more and more groups in the consumer business sector look to expand across borders, we at BDO can help you to work through the options available – be it a joint venture, an acquisition or opening a branch or operating a franchise. Our experts ensure that when our clients expand their businesses across borders, they have planned for the most efficient structures and have the necessary knowledge on the ground.