What do our challenging times mean for retail leaders and leadership teams? The pace of change and the drivers of change means that the role and the qualities of a retail CEO are now very different from a decade ago. Sally Elliott, Global Retail Practice Leader at Spencer Stuart and Chair of the World Retail Congress Advisory Board shares her insights into the demands on top retailers.  

“High performance” in Paris was not limited to the athletes competing in this year’s Olympic and Paralympic Games. It was also the theme of the 2024 World Retail Congress, which took place in the French capital a few months before the Olympic flame was lit.  

The theme could not have been more timely. The 2024 World Retail Congress unfolded amid geopolitical tensions, economic uncertainty, political change and rapid digital advances. Nearly half the world’s population — 1.5 billion people — participated in elections, resulting in significant changes that retailers must now navigate.  In 2024, retail leadership has required both high performance and real resilience, with leaders needing to pivot swiftly in response to market changes and evolving consumer trends.  Agility and adaptability have been crucial in such a fluid environment.   

Retailers are increasingly shifting their focus beyond traditional retail models towards a more holistic ecosystem approach.  This shift marks a significant transformation in how they engage with customers.  Beyond delivering seamless omnichannel experiences, ecosystem thinking encourages retailers to explore complementary services, personalised offerings and strategic partnerships that enhance customer value and deepen engagement. 

To succeed in this landscape, retail leaders need strategic vision to develop long-term goals and a strong understanding of how to leverage new technologies.  Understanding the interconnectivity of the ecosystem’s components is vital, as is the ability to communicate this vision in an inspiring way both inside and outside the organisation.  Collaborative leadership styles are essential for building trust and engagement, facilitating a shared vision that drives collective objectives.   

Whilst the retail sector continues to explore the implications of artificial intelligence for the future, the leadership tone set by many CEOs in 2024 has been characterised by an openness to change and willingness to experiment.  At the same time, there has been a strong focus on operational excellence to meet today’s demands.  This balanced approach enables retail leaders to address current challenges whilst strategically positioning their organisations for success in an unpredictable future.   

As we prepare for the World Retail Congress 2025, our Advisory Board discussions are focusing on the challenges and opportunities that lie ahead for retailers. Key topics include identifying enduring consumer needs amid rapid technological advancements and the evolving role of artificial intelligence, along with its practical applications in the retail space. 

I am particularly excited about this year’s Congress, which will be held in London — close to home for me. The World Retail Congress team is curating what promises to be the most dynamic lineup of speakers and compelling events programme in the history of the event. 

In the lead-up to the Congress, our retail team at Spencer Stuart will delve deeper into these topics through our new podcast series, Retail Leadership Voices, launching in the New Year. We’ll engage with CEOs from leading retailers around the world, exploring their career journeys, key insights on emerging trends and valuable advice for the next generation of retail leaders. 

Wishing everyone the best for 2025, and I look forward to seeing you in London!