Former Tesco chief executive Sir Terry Leahy has told a retail forum in Dublin that he feels the Irish economy is "recovering", however the government has a part to play in ensuring retail has a strong future here.
“We need the government to show us leadership,” Leahy told the Revitalising Ireland Through Retail forum, which was organised by Senator Mary White, and held at Dundrum Town Centre last Thursday. He noted that “too much regulation of products and markets is a dead weight on economic growth and development”.
Despite this, he feels the retail industry is “remarkably resilient”. Retailers, he argued, need to do more to serve the needs of their local consumer base, and think of their business as serving an important social function.
“You’ll still have a business if you really serve customers and satisfy the needs they have in their lives,” he said.
He declined to comment, however, on Tesco's performance in this country, which posted a 8.1% decline in Q3 last month.
Commenting on Leahy's appearance at the forum, Senator White said “As Ireland makes tentative progress towards economic growth, the high street continues to struggle and retailers have borne a very heavy burden through the crisis. In order to secure a sustainable future, retailers must adapt to the changing reality."
The forum was co-hosted by Dundrum Town Centre director Don Nugent.
© 2013 - Checkout Magazine by Stephen Wynne-Jones