Designer Max Azria, center, enjoys a light moment with Brian Cornell, CEO of Michaels Stores, and moderator Rhonda Schaffler of Bloomberg TV during the retail industry session.
During the past decade, consumer spending has driven the U.S. economy and contributed to growth in the larger world economy. For policy-makers, retail sales are a bellwether, and consumer spending has become a key tool for staving off recession. But in a world of increasing Internet sales, new pressure on margins due to low-cost imports, and sinking consumer confidence, retailers are facing a host of challenges. Do the answers lie within the U.S. economy or in places with stronger currencies, such as Europe? Will retailers turn to new markets with growing consumer appetites, such as China and India? In this panel, a group of experienced retail executives discussed the challenges they face in the current market, and how they are able to keep their companies thriving, even as the economy slows.
Global Conference 2013
Former Prime Minister Tony Blair, philanthropist Bill Gates and Strive Masiyiwa of Econet Wireless discuss advancing prosperity in Africa.
