New leaders for retail differentiation
Three CXO positions are enhancing business agility for retailers
Retailers change their organizational structures to better respond to demanding digitally-empowered consumers. Three new CXO positions are becoming part of various retailers’ change management processes. These individuals help create the business agility required to stay ahead of the competition.
Three new CXO positions are becoming part of various retailers' change management process. But which is right for a particular retailer? Are they mutually exclusive? Does the organization need them all? Or are they all a leadership fad?
Retailers—constrained by slowing growth, shifting competition, and changing customer expectations—are increasingly battling for market share. In this difficult operating environment, an understanding of a retailer’s core customer, and the shopping experience she’s looking for, are important first steps when deciding on how best to differentiate.
In recent years, some C-suites have questioned the traditional executive roles (e.g., CIO, Chief Marketing Officer, Chief Merchant). Instead, they are seeking out new leaders—with the right authority, influence, and priorities—to introduce new initiatives.
As companies add new members to their C-suite—Chief Digital Officer, Chief Customer Officer, Chief Omnichannel Officer—each of these roles will face specific challenges associated with the transformation of the consumer’s interaction with the retail brand.