Retail 100 2024: Three vital lessons from the UK’s top c-suite leaders

1. Innovation is crucial to winning market share  

Retail never stands still and this year the Retail 100 recognises 10 Disruptors – up from six in 2023 – each of which has a unique proposition that is winning over customers and is a case study as to how to innovate in a competitive market. 

Take for instance, Castore founding brothers the Beahons, Refy founders Jess Hunt and Jenna Meek, and Trinny London creator Trinny Woodall, who are all respectively shaking up athleisure, home accessories and beauty in their own ways with cult-like followings to boot. 

All three businesses were launched in the past nine years – Refy just four years ago – and are collectively generating more than £124m per annum. 

2. CX and innovation key to success 

CX is often lauded as the holy grail of retail and for good reason. More than a fifth of the Retail 100 this year have been celebrated as Experience Innovators for their work reigniting the thrill of shopping – be that online, in store or both through savvy investments in tech, new formats and customer engagement tools. 

Holland & Barrett chair Alex Gourlay makes his debut having overseen a revitalised focus on CX with new in-store concessions, additional product ranges and categories, and a customer-facing app to help support wellness goals. 

Elsewhere in the digital space, Charlotte Tilbury Beauty’s chief executive Demetra Pinsent has made an inaugural appearance, having led the beauty brand in the launch of its AI-powered app last June. 

Store shake-ups are also clear to see – the strategy of Fortnum & Mason’s Tom Athron, for instance, highlights the value of making stores more experiential. 

3. Sustainability remains top of the agenda 

When times are tough, it can be all too easy for industry leadership to focus on profits over purpose, yet the line-up of the Retail 100 is proof that sustainability has not fallen off the priority list. 

With 10 Sustainability Activists featured, equal to 2023, the idea that a greener business is better holds strong.

The new addition of B Labs UK boss Chris Turner, at the helm of the organisation that grants the much-coveted B Corp status, is indicative of the shift in the sector to bolster eco credentials. 

Likewise, the success of Adam Jay with Vinted, achieving profitability for the first time this year, and eBay under Eve Williams, breaking down barriers by removing fees for pre-loved goods, demonstrate how shoppers’ attitudes and spending preferences are changing. Sustainable fashion has moved to the mainstream.