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The retail risk environment

Retailers have always had to evolve to survive and the retail sector has shown resilience in the face of the economic crisis. However, tough competition in all sub-sectors, corporate social responsibility and environmental demands, the continuing pressure of new regulation, technological advancements and international political instability make the sector challenging to navigate. Future survival will depend on retailers managing risks that could significantly impact brand reputation while simultaneously leveraging their customer relationships.

How can Willis Towers Watson help retailers?

We use our retail industry knowledge and insight to help you manage and mitigate risk and control cost within your business.

Your Willis Towers Watson Client Relationship Director and Willis Towers Watson Risk Partner look at your operational structure, your people and the values and ethics that make your company what it is today and what it endeavours to be in the future. We then review risks that could threaten the existence of your business as well as areas for improvements in business resilience and recovery, risk retention and transfer, servicing efficiencies and cost reductions.

Working as an extension of your business, we use informed analysis to help make the complex nature of the risks you face simpler. Through our connected risk management offering, we then provide a holistic solution aligned directly to your key business drivers including: branding, marketing and communications, staff behaviours, product range, supply chain and the site (physical or online).

Our unique approach includes the regular review and evaluation of risks around the following categories:

For further information on each of these areas please click the relevant topic.

What experience does Willis Towers Watson have in the retail sector?

The Willis Towers Watson GB Retail Practice has worked with customer-facing businesses for over 30 years and as a result we have a deep insight into the opportunities and challenges retailers face. Our team of retail-specialists are based throughout the U.K. and work with retailers operating within all industry sub-sectors, including large international retailers. As part of a global broking organisation, the retail team is your connection to the wealth of expertise Willis Towers Watson has to offer.

Our industry focus combined with our risk management, claims and insurance placement expertise means we are well placed to assist with both traditional and emerging business exposures.

Please do not hesitate to contact us to discuss your retail risk management and insurance strategy further and find out how we can help you implement the right approach for your business.