wners seem to be taking a chance on success with planned, strategic spends in the year ahead. It’s an encouraging sign that confidence is returning, albeit cautiously. Technology leading future investment Efficiency, connection and engagement through technology is by far the greatest focus for retailers going forward. With increased costs of doing business typically outstripping sales growth, it’s vital businesses leverage automation in order to remain competitive. Omni channel remains front and centre for retailers however the continued evolution of platforms challenges financial and operational models. Integration, payback and obsolescence have been primary concerns for retail leaders with many businesses adopting a wait and see approach. Now, there’s emerging clarity around more enduring solutions – giving rise to greater confidence in investment. Digital roadmaps becoming vital In an effort to develop greater understanding most of retailers now have a dedicated digital strategy updated almost continuously. Covering all aspects of the customer relationship from signage, through to social media these strategies ensure future spend is smart and solutions integrative. Mechanisation is also in vogue. We’re seeing self-service and iBeacons top many agendas as businesses shift associates strategically toward building sales ‘closing’ roles, rather than simply cashiers. Brand means everything – if you’re keen on profitability Brand proposition is becoming a key differentiator, and a factor driving the most successful retailers globally. Consumers are increasingly purchasing based on what a business represents,  not just what they sell. Being able to represent company values and the essence of the brand helps differentiate the store from its competitors Confidence is in the air Retailers we’ve been working with are generally bullish about the year ahead. Most anticipate modest sales growth as the economy continues to gain momentum and consumer confidence returns. All are anticipating increased profitability, driven by efficiency and improved buying terms as suppliers increasingly meet the market in terms of pricing and overall offer. Managing risk – strategically The wildcard is weather.  Unseasonal patterns that are increasingly impacting fashion, outdoor, hospitality and home improvement sectors, challenging demand trends and store resourcing. Even this area is being managed with retailers increasingly using data and long term planning to forecast anticipated demand trends. Go forward enthusiastically! The past year has flown by, with fewer casualties than those previously. Retail is again finding its feet and our industry can look forward with greater confidence to a more successful twelve months ahead. All the best for a successful 2015 in a sector which has potential to recapture consumers hearts – and their spending! Chris Wilkinson is the MD of strategists at First Retail Group, specialist consultancy to the retail, tourism and hospitality sectors.