Climate change stands as a “decisive challenge” for the current generation of retail leaders, according to Alexandre Bompard, chief executive and chairperson of Carrefour.
Bompard was speaking on key issues facing retailers in his opening address at the 2024 World Retail Congress in Paris.
He added that the climate change challenge is about “more than just reducing our climate emissions – it’s about how climate change directly impacts our businesses. From the rising costs of commodities like olive oil and cocoa to the volatility of energy prices, climate change is making resources more scarce, more expensive.
“It is in our best interest to combat global warming sooner rather than later, as delay will only increase costs, not to forget the demanding expectations of our customers,” Bompard said.
Other Trends
Bompard also cited digital transformation and inflation as two other trends that are crucial for retailers.
Digital transformation is no longer only about e-commerce, as the advent of data analytics and generative AI have “changed the scale of transformation” for retailers.
Bompard explained, “This ranges from deep-rooted marketing communication operations to brutal optimisation of the supply chain. It also changes the way we choose our segments, how we can offer personalised promotions and when we should have enhanced services to our customers.”
He believes that while hyperinflation is over, inflation will continue to impact retailers.
“Low prices are no longer a given. We are witnessing highly fragmented shifts in customer behaviour, including strong demand for discount options, and fierce competition between national brands and private labels on emerging new distribution channels,” he stated.
