Purposeful Planning:

Retail Quick Wins for a Successful Q4

Two critical junctures that send ripples across the retail landscape are the back-to-school and holiday seasons. These moments not only shape consumer behavior but also require retailers to fine-tune their strategies to seize opportunities and address challenges. While NRF predicts nearly a $25 billion increase in spending over last year for back-to-school, the holiday season is still undoubtedly the crown jewel of the retail calendar.

Typically, the holiday season also brings technical and strategic initiative lockdowns, as most retail resources are focused on successfully pulling the organization over the year-end finish line (amid the usual hiccups and disruptions). This lull is often a good time to reassess your company’s capability roadmap—or begin building one if not in place already.

Retailer concerns that the current consumer spending optimism may not continue through the end of 2023 warrant a focus on quick wins to mitigate some known challenges. This month, we outline key considerations in reviewing your capability roadmap and what retail quick wins may be achievable during the last quarter.

Capability Roadmap Considerations

A capability roadmap is a strategic tool that outlines the necessary skills, technologies, and processes a retailer needs to acquire or enhance to achieve its goals. The roadmap considers the prioritization and strategic sequencing of initiatives, including quick wins, as well as medium- and long-term undertakings. We have helped many retailers and CPG companies develop capability roadmaps, and some recent considerations include: