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Global leader of retail, wholesale and distribution at Deloitte
Interview with Fernando Pasamón
7 Paradigms Changing Retail Today
Interviewer: Ok, so first of all can you introduce yourself?
FP: My name is Fernando Pasamón, I’m the global leader of retail, wholesale
and distribution in Deloitte.
I: So what’s the interest for Deloitte, being here in this fair?
FP: Well, I mean for years we have been working with NRF in New York, which
as you probably know is the largest and most important congress in retail. I
would like to help “La Fira” to create a similar concept in Europe, in Barcelona.
As I’m Spanish and I have this kind of global role, I would like to contribute with my firm, with Deloitte, and my people in order to make this congress something really big in the coming years. So this is our real interest.
I: So how are you finding the fair?
FP: Well, I’m enjoying it so far…
I: And are you managing to expand? Do you think it’s a good opportunity?
FP: Well, I just arrived today. I think there’s room to manoeuvre. Of course, it’s
the first year, but I think we are creating the basis in order to create something
really good in the future. So, I’m positive, I’m more than sure that Deloitte will
contribute in the coming years to make this something really good and
competitive worldwide. It’s not easy, but we will try.
I: Which are the benefits of these kinds of fairs for a company like yours?
FP: Well, I mean, we don’t need visibility with our clients because we’re already working with them, but this is a vehicle in order to invest some time with our clients in our facilities, also to share some of our more innovative solutions, today in the stand we are presenting I think 17 solutions, specific solutions in the value chain of the retail sector. So, I mean, it’s kind of networking but at the same time presenting specific solutions to the sector and contributing with some of our IT to the congress.
I: How do you find the current situation of retail? And where is it going?
FP: This is a good question. I would tell you that when we work with our clients, we are working around seven paradigms or seven topics, which really matter to our clients. The first is the concept of frictionless, not only in the front end, which is something already done in the last decade, but frictionless in the back office. This is where we see more differentiation in the market.
Second would be the concept of time share versus market share, market share as being the traditional KPI. When we do rankings among retailers, time share is the new concept.
Third is alliances: I was with Walmart, with the head of human resources, a couple of months ago, and she told me that you will never be big enough in order to compete. So alliances are becoming more and more important, relevant, and they are evolving into new ways of creating value for the consumers.
Another paradigm that is changing is convergence of different sectors: so today, for instance, we see in Spain that one financial institution is the first client of a consumer electronic manufacturer. It’s not a retailer anymore; it’s a bank, a financial institution. We see in other countries, also in Spain, that some retailers are leaders in the business of consumer finance, so convergence between sectors is something that is changing the rules. Another
paradigm is how to innovate when you have a legacy in you balance sheet, so traditional retailers have technology as legacy, assets, they have brands, stores and thousands of employees.
I: So how can you innovate with these kinds of assets and legacy into your balance sheet versus you don’t have any, and everything is open for innovation?
FP: This is a challenge that’s not easy to solve.