4 Key Macro Trends of Change by IGD Part 2

Altering authorities

In today’s economic climate nothing is certain. As political changes take place so do the public’s perception of government bodies and major businesses. According to IGD, This will prove to be a huge challenge for major companies. Start-ups and SME’s can provide enough of a threat to larger companies making them rethink their strategies. Altering Authorities creates a favourable operating environment for smaller businesses. Bord Bia offer useful resources on their website for entrepreneurs and SME’s, click here to learn more.

Resource resilience

IGD predict an increase in regulations as resources become scarcer. Major corporations may be obliged to conform to new laws protecting the environment and workers. The OECD are “predicting that half the global population will be under water stress by 2030” , this means production and end products will have to be re-aligned with the environmental requirements in order to stay in business. Sustainability will be a huge factor in the marketing of all products. Programmes like Irelands national sustainability programme and for Irish food, drink and horticulture industry Origin Green can help suppliers create a greener future.

As resources decrease, new forms of production and business will be designed. This will require new and improved skillsets to fulfil new roles by employees. As touched on in part one, digital and technology will become the forefront of the retailer and grocery industries. As the demand for better educated workforce increases, we will see large corporations offer training courses and certificates to keep employees educated on the new technology and workload requirements.

Implications

As retail and grocery sectors continue to evolve and grow, it’s clear that they must keep up to date with these mega trends and be proactive when dealing with customer’s ever-changing needs and wants. Irish suppliers who future proof their business strategies in preparation for a change in regulation and a more sustainable future are better positioned to be successful for years to come.