Asda CEO - Consumer power is here to stay
Asda’s chief executive has acknowledged that a “new era of democracy” is here as consumers wield more power than ever before, with the help of sites like HotUKDeals and Bitterwallet. Although he didn’t mention either of them by name, we’re pretty sure that he was thinking about them.
Speaking at the British Retail Consortium’s Annual Retail Lecture, Andy Bond also acknowledged the part that the recession has played in the ongoing shift in power. He said…
“The consumer may be ready to shop again but the recession has led to long-term, permanent behaviour change. And the change in behaviour is being led by the consumer, not us. We are following consumers, not leading, and as an industry we need to get ahead in order to stay in the game.”
Namechecking Facebook and Twitter (but really thinking about HUKD and BW – almost probably anyway) he said that retailers will become more transparent strategies, exampling Carphone Warehouse’s move to feature customer complaints on its website.
Hopefully, other retailers can listen to Bond’s words and take heed. After all – there’s more of us than there is of them.