A number of leading retail figures, including Sir Stuart Rose, have all attempted to dispel fears of a double dip recession at the World Retail Conference (WRC) today.
The WRC is running all this week in Berlin, Germany and has already heard speeches from the Marks & Spencer Chairman, Esprit Holdings Chairman Heinz Krogner and Dr Ira Kalish, the Director of Global Research at Deloitte.
This morning’s discussions have revolved around the state of the global economy and future of internet retailing.
Kalish and Home Shopping Network CEO Mindy Grossman both stated that they did not anticipate a global double-dip recession, whilst Rose said that the world was better placed than during the recession of the 1970s because “we have the BRIC countries, we have Europe pulling together and we have the governments coming together”.
Google Vice-President for northern and central Europe, Philipp Schindler, warned retailers that they must adapt to the possibilities of the online commerce and said that the “mobile phone is the next wallet”.
“Over 60 per cent of retail sales are significantly influenced by what people are doing online,” Schindler continued.
During his speech, Rose said: “You have to treat online as your friend, and ignore it at your peril.”