GROCERY CHALLENGES & RETAIL MANAGEMENT

The McGill School of Retail is a school of McGill University in Canada. The University-based in Montreal is one of the biggest and highly ranked universities in Montreal, Quebec. The retail industry is a highly technical field in modern retail and the management environment deeply studies the problems associated and solutions needed for a particular area in retail.

Grocery is part of all supermarkets and retail sectors in almost all countries, especially in the West. In Canada, it is part of almost 90% of retail supermarkets and holds huge competitions especially due to the huge presence of Walmart in Canada. McGill University in Montreal shall be overlooking the business environment and tackling the challenges in grocery as it has been the scenario for a few years. The University’s school for retail management shall also be tackling transformative challenges that are faced by the retailers. By transformative challenges means how to make transformations with change management in the retail sector covering cases of huge MNCs like Walmart.

According to a professor of retail management James McGill, the Retail industry in Canada is encountering some grand challenges. These challenges include nutrition, food industry challenges, and food sustainability issues. The challenges relate to the nutritional aspects of food, product development (faculty of agriculture), the pricing & delivery issues. According to Aldo Bensadoun, in a release, we in Canada are living in a period where there are tremendous changes in retail. Hence, in order to have success, future industry leaders will have to understand consumer’s behaviors and changing behaviors in the markets. The Professor laid heavy emphasis on fusions of many other fields and sectors such as accounting & finance, research, psychology, AI, neuroscience, & sustainability management to have a bright future in retail management.   

Courtesy by: MBE Blog