In the space of four years, 43 year old Greg Phillips has taken field sales firm, Dee Set Group, from traditional logistics to tech trailblazer.
Working with big names such as Sainsburys, Morrisons, Unilever, Kelloggs and Quorn Greg can offer a full view of the retail sphere and the issues it is set to face as we roll with the punches in 2023.
Greg is an expert on the cost of living crisis (how retailers can adapt), retail trends, HFSS and much more.
Greg Phillips, CEO of Dee Set Group, shares with Grocery Trader his predictions for 2023 and how some of the most asked questions in the industry will play out from an expert’s perspective.
Inflation and the cost-of-living crisis consumer confidence and spending trends
“Inflation will eventually level out as it annualises against itself but prices will remain high and will outpace wage growth. It will be impossible for most organisations to meet pay awards of double digit %s two years in a row, and therefore most workers will be worse off in real terms particularly with interest rates increasing mortgage payments.
“The cost of living will remain an important issue throughout 2023 and we will see more creativity around re-engineering products, supply chains and service. Competing for the increasingly squeezed consumer spend will demand a very clear proposition and excellent execution.
“More companies will fail and we will have more consolidation particularly in lower margin sectors whose models are labour and/or energy intensive.”
Big Tech and mass sackings
“Gartner is suggesting there will be a worldwide increase in Technology spend by 5.1% in 2023. Organisations will still invest in digital transformation and using technology to improve efficiency and customer experience.
“The reality is the economics / valuations didn’t work from an investment perspective and to continue to meet the expectations of the market or new owners, they have had to strip resources out. I don’t see this bouncing back but the ability to recruit and retain the best talent will be a high priority.
“To keep pace with the exceptional salary inflation in this sector, organisations are only able to continue to pay more by having less people. As with every organisation of the future, the ones who make the best use of the humans and the ‘machines’ will prosper in the longer term.”
Further information
“Organisations will be more cognisant of downside risk and protection against threats. Data will become increasingly accessible and how it is managed and secured will become more high profile as consumers’ trust in a company’s processes will be central to a brand’s equity, and attacks become increasingly sophisticated.
“Companies will also want to secure their supply chains and ensure they are less exposed to the disruptions that have persisted since the pandemic. The redesign of processes will also consider the growing demand for sustainability. As the demographic of employees (and consumers) changes, the expectations on companies’ approach to ethics and sustainability will continue to heighten.”
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