60-second Retail

As AI takes off in the business world, so too are the rules and regulations rolling out that are meant to address consumer privacy and security concerns. Two such acts that recently hit the EU are the Digital Services Act and the Digital Markets Act. What exactly are these regulations meant to achieve? More importantly, how will they impact the retail industry? Join us for the 2nd episode in our 2-part mini-series dedicated to new rules and regulations in the age of AI, where Karen Schuler, Global Leader of BDO’s Privacy & Data Protection team, lays out what you need to know about the new legislation aimed at businesses using AI and online platforms.

There are several new rules and regulations rolling out now that AI has permeated nearly every facet of business. The most comprehensive of which is the EU AI Act. What do retailers need to know about this new regulation? What exactly is the “risk-based approach” that lies at the heart of the act? Are there any benefits for retailers? What challenges does the act present to the industry? Join us for this episode of our 60-second Retail podcast, the first in a 2-part mini-series dedicated to new rules and regulations in the age of AI, where Karen Schuler, Global Leader of BDO’s Privacy & Data Protection team, answers these important questions for us.

Once again prevailing macro-economic conditions have caused consumer’s discretionary spending to nosedive. What can retailers do to ensure their pricing strategies keep products moving without having to offer big discounts? What tactics can help retailers buffer their bottom lines in the face of the fixed consumer budget? Tune into this episode of 60-second Retail podcast where David Berliner, Partner & National Leader of Business Restructuring at BDO USA lays out the moves retailers should be making when it comes to pricing with consumers wallets stretched so thin.

With the roll out of stricter return policies to grapple with the costs of rising returns, are retailers gambling with their share of the already tight consumer wallet? Will consumers adapt to these new policies, or will they find alternatives to get the products they need, when they need them? Tune into this episode of our 60-second Retail podcast where Jennifer Valdivia, Audit Partner and West Regional Leader for the Retail and Consumer Products Industry group at BDO USA, lays bare the potential fallout retailers may be facing as a result of their new return policy.

A lot of retailers have announced or already implemented new, stricter return policies in an attempt to control the costs associated with rising returns. Is this a temporary policy shift or something that’s here to stay? What potential implications come with limiting a consumer’s ability to return? How can retailers find the right balance between addressing the need to reduce return costs without eroding their customer base? Tune into this episode of our 60-second Retail podcast where R.J. Romano, Managing Director, Management Consulting & Supply Chain Advisory Practice Leader at BDO USA, helps us unravel what’s prompting the new return policies rolling out and provides some tips on how best to navigate this sticky situation.

The back half of 2023 saw shrinking stores, declining units per trip and drastic shifts in consumer spending to online and value retailers. Did these trends play a role in the retail bankruptcy filings seen in the back half of 2023? Are there any insights to be gleaned from the store openings and closings data that can help retailers sharpen their strategic edge and stay out of the red? Tune into this episode of our 60-second Retail podcast to hear David Berliner, Partner & National Leader of Business Restructuring at BDO USA, share some key findings from the most recent Retail in the Red report, and how the industry outlook is shaping up.

How are Trans-Atlantic retailers tackling pricing strategies and leveraging AI? Are they taking on debt, and if so, why? More importantly, are there any lessons we can learn from retailers in the U.K. who may be taking a different approach to address some of the global issues the industry faces in the year ahead? Tune in to this international edition of our 60-second Retail podcast, where Laura McNaughton, Consumer Brands M&A Partner for BDO UK, discusses the similarities and differences between the U.S. and U.K. retail markets, and the various strategies underway based on the data in the 2024 Retail CFO outlook Survey and the Retail Forecasts 2024 Report.

With 80% of eCommerce CFO’s reporting increased profits over the last 12 months in the 2024 Retail CFO Outlook Survey, what strategies are they leaning into to drive these results? What tactics are e-tailers employing to counter the negative effects the rise in returns has on their bottom line? And what role does AI play in e-tailer’s cost optimization strategies as they strive to continue the momentum? Tune in to this episode of 60-second Retail, where Michael Rosenthal, eCommerce Implementation Manager at BDO USA, answers these important questions, laying out some of the key lessons learned from the eCommerce segment’s soaring success. Keep your finger on the pulse of the retail industry.

Talent shortage was a major concern for many retail CFOs in 2023. This year, however, many retailers no longer view this as a threat to their business, with 48% citing this as less of a risk in the 2024 Retail CFO Outlook Survey. So then, where have retailer’s workforce concerns shifted? What critical competencies should they seek in hiring to deliver a worldclass customer experience? And what does a successful training program look like if your employees time is largely dedicated to being on the floor? In this episode of 60-second Retail, Ross Forman, Managing Director of Strategy & Innovation in the Management Consulting practice at BDO USA, answers these key questions and lays out some of the fundamentals when building a successful human capital management strategy. Keep your finger on the pulse of the retail industry.

Almost half of retail CFOs in the 2024 Retail CFO Outlook Survey said they are building a proprietary generative AI platform this year - more than any other industry surveyed. So, why are retailers taking the lead on AI implementation? What risks should be top of mind as they look to deploy this cutting-edge technology? Tune into this episode of 60-second Retail, to hear Kirstie Tiernan, Principal - Data & AI at BDO Digital USA, explain why AI is taking off in retail and provide some advice on how to get your company started on the AI journey if you haven’t yet. Get the insights you need to succeed with AI.