We recently spoke with Jouko Pitkänen, Managing Partner at JFP Executive Search and Consumer Markets Practice Group Leader at IIC Partners, about how leadership in retail is being reshaped by technological disruption, shifting consumer expectations, and the rise of omnichannel strategies.

Jouko shared how successful executives in the retail and consumer sectors are navigating constant change by embracing adaptability, continuous learning, and bold strategic thinking. As e-commerce and AI-powered experiences continue to redefine the global landscape, he emphasized that agility, digital integration, and a strong understanding of business model transformation are now essential leadership traits. Watch the full interview to hear how retail leaders can thrive in an era of reinvention.

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Transcript

When we think about e-commerce in the global market, I think we have two types of players. First, companies that only run an e-commerce business. Secondly, legacy retail players with a strong brick-and-mortar network, where the e-com has emerged alongside it. This is where the concept of the omnichannel retail came from.

Almost without exemption, e-com companies that only operate online have entered the global market, like Zalando and Amazon, while omnichannel players are often national players. Although organizations like Inditex, which owns brands like Zara and Bershka, show it’s possible to integrate physical and digital experience and scale globally.

In 2025, AI-powered experiences and evolving cross-border trade agreements are pushing all players to adapt rapidly. Success in today’s market depends on agility and technology integration. Disruption changes entire industries, and change has accelerated in recent years with COVID, geopolitics, and more.

I see that successful leaders who operate in the middle of constant change and uncertainty must have two special competencies. The first is the dynamics of professional and personal growth. It is important to constantly gain new knowledge and be curious. A broad knowledge base also increases a leader’s resilience—the ability to bounce back.

The second competence is adaptability. Leaders and organizations need to adapt to the present competitive and global landscape. I think it is like adapt or die, especially in the retail business. There has been a lot of need for business model changes.

I have studied and done research on the department store business in the global market. In particular, the competitive advantage brought by having a wide selection has melted away with the rise of e-com and shopping malls. The main shift is the change of the earning logic as well, where the key is the transition from the wholesale business model to risk-sharing models together with the suppliers.

On the other hand, department stores have strongly moved to the omnichannel model. Department store companies are often old—in many cases over 100 years. As the old saying goes, fixing something old is often harder and more expensive than building something new.

So strategic capabilities, change management, leading through the change, and boldly bringing new thinking to the situation are the keys to success.

We had an excellent meeting in Helsinki with our Nordic IIC colleagues—thank you for that. Collaboration across IIC Partners provides a strong foundation for us to achieve even greater success in the Nordic market.

We reviewed regional client potential, prepared a joint publication, started a bank or archive of Nordic references to be stronger together, and made plans to take our cooperation to a new level. We take responsibility for creating new added value from IIC Partners collaboration in the Nordic countries.