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Cyber Attack or Data Breach
Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.
Industry Overview
Retail and Consumer Goods
Constant Reinvention in a Rapidly-Evolving Industry
The retail and consumer goods industry faces a constant stream of disruption and innovation—creating new risks and opportunities alike. From cyber threats to digital transformation to rising competition from new market entrants to supply chain disruption and talent struggles, failure to adapt and innovate is not an option.
In particular, the competition for talent across all business areas is fierce. Organisations are hard-pressed to find enough cyber experts, digital leaders, drivers, in-store staff, skilled support and warehouse workers, among many others, to ensure goods reach consumers with a high degree of satisfaction. The race is on to design and implement cutting edge workforce practices and models.
Similarly, it’s time to rethink risk management practices and move beyond traditional focus areas like cost containment and responding to localised business interruptions. Organisations are now looking to invest in strategies that address systemic challenges like climate change and broader environmental, social and governance (ESG) issues.
At Aon, our teams have deep experience across all segments of the retail and consumer goods industry, and we partner with clients to implement effective claims, safety and risk management process, build healthy and engaged workforces, minimise the total cost risk, and find cost-effective risk financing options.
Top 5 Current Risks
According to our latest Global Risk Management Survey, the biggest risks facing the Retail and Consumer Goods industry include:
More Insights
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Using Data to Close Workforce Gaps in Retail Companies
With technology advancements, new consumer expectations and unpredictable markets, retailers face hurdles in building a resilient workforce. Here are two actions to take for a stronger future.
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Article 7 mins
Building Cyber Resilience in the Fashion and Luxury Goods Industry
Web 3.0 is coming. Every luxury goods business can profit from the use of its related technologies in digital assets, such as NFTs and the metaverse, but cyber security must keep pace.
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Article 5 mins
Building the Balance Sheet in the Fashion and Luxury Goods Industry
Funding to grow and innovate in the fashion and luxury goods industry can come from both traditional and non-traditional sources — like M&A and leveraging a brand’s intellectual property.
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Article 5 mins
Building Workforce Resilience in the Fashion and Luxury Goods Industry
With more brands looking to reposition themselves in the fashion and luxury industry and secure their future, a robust workforce resilience strategy will be key.
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Report 13 mins
Top Risks Facing Retail and Consumer Goods Organisations
Retail and Consumer Goods respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and supply chain or distribution failure as their two most critical risks.
