Where Are Retailers Looking For Growth?

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 3 July 2019

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Jennifer Davis, head of retail investment banking for Goldman Sachs, explains how retailers are expanding their growth strategies against a backdrop of continued e-commerce growth and shifting demographics. While Davis acknowledges that growth strategies are “very specific to a retailer or brand,” she outlines three key areas of focus for her clients: customer demographic growth, channel growth (including the rise of digitally native brands), and geographic growth.

Transcript

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0:00.0	This is exchanges of Goldman Sachs where we discuss developments currently shaping markets, industries, and the global economy.
0:14.7	I'm Jake Stewart, global head of corporate communications here at the firm.
0:18.0	And the question of today's episode is, where are retailers looking for growth?
0:23.4	To answer that question, we're joined by Jen Davis, head of retail investment banking here at
0:27.2	Goldman Sachs.
0:27.8	Jen, welcome to the program.
0:28.8	Thank you so much for having me.
0:30.2	Thrilled to be here.
0:31.2	Okay, so let's set the stage.
0:33.2	The largest thing of change in shopping is obviously the growth of online retail and decline
0:38.4	a little bit of shopping in stores.
0:40.8	Not exactly groundbreaking, but that shift continues to dominate and transform the
0:44.4	industry that you're covering.
0:46.4	You advise CEOs of a lot of big big retailers.
0:50.8	How would you describe the sentiment amongst your client base?
0:54.0	First and foremost I would say that clearly e-commerce has grown quite significantly.
0:59.6	It used to be about 5% of total retail.
1:02.4	It's expected to be almost 17% by 2021. So it's grown enormously
1:07.6	over the past six or so years. But it's important to remember that pure store-based retailing is still almost 80% of the overall market.
1:18.0	For our clients specifically, I would say that they have definitely shifted from a more defensive posture several years ago and
1:26.0	after waking up to that reality and a lot of painful investment both in terms of e-commerce capabilities, distribution, and
1:35.0	logistics, they're now taking on a much more offensive posture and realizing
	...

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