What retail leaders are talking about: Five takeaways from FRP’s Conference

Last week, I attended FRP’s Retail Conference, which brought together retailers, lawyers, accountants and forensic specialists to delve into the current challenges and future opportunities shaping the retail industry. The afternoon provided an excellent forum to network among sector experts while taking part in practical and thought-provoking workshops. It was energising to hear directly from retail leaders and engage in discussions that challenged conventional thinking. The breakout sessions sparked some great conversations around innovation and resilience in retail. 

Below, I’ve outlined my five key takeaways from the conference, highlighting the most impactful insights and advice: 

1. “Retail is emotional” — a powerful opening message from the keynote speaker, Kate Hardcastle MBE. This centred around the importance of personal touches in retail, which serve as emotional triggers to create moments of small joys and build customer loyalty.
2. Omnichannel retailing across physical and digital channels is an effective way to drive engagement by enhancing the overall shopping experience. We discussed a pragmatic example involving a menswear retailer, which highlighted how the retailer’s current channel strategy may be missing value opportunities. This is because customers appear to be using physical stores to try on clothing but completing the final purchase online to earn loyalty points, potentially resulting in lower margin transactions. 
3. Artificial Intelligence (“AI”) is transforming the future of retail by providing retailers with new ways to drive efficiencies and predict demand. This topic was explored by Alastair Massey, Partner at FRP Restructuring Advisory, where he noted that an electrics retailer has adopted electronic shelf edge labelling to support staff in their day-to-day roles. This is a positive step, although many other retailers remain in piloting phases of AI adoption. 
4. Timely intervention is crucial when faced with underperformance. Retailers should regularly review store performance, assess the impact of initiatives and act quickly to address areas of concern before they escalate. Engaging advisors can assist with this process through a strategic review of the business, which can identify inefficiencies and assess any proposed turnaround plans. 
5. Lender appetite to support retailers remains strong. This is facilitated by an evolving debt market, which was highlighted by Dave Edwards, Partner at FRP Debt Advisory, where he advised that new entrants and private credit funds are reshaping the landscape. These lenders are showing interest in retailers that may be overlooked by traditional high street banks, although this is typically contingent upon robust financial due diligence.  

Drawing on my experience within FRP’s Financial Advisory pillar, the final two points particularly resonate. I’ve seen firsthand the value of early advisor engagement in tackling underperformance – where a proactive approach to reviewing turnaround plans and exploring strategic options can unlock significant value. Conversely, I’ve supported growing businesses in securing the funding they need to thrive through completing robust financial due diligence. Notably, there has been a shift towards value-drive due diligence, which not only assesses historical performance but also provides insight into future potential and business resilience. 

It’s clear that early engagement and strategic financial insight are becoming increasingly vital in retail. I’m looking forward to continuing these conversations with clients and colleagues as the sector evolves.