Giannis Masoutis stressed the need for businesses to prepare now for the disruption being brought by technology, artificial intelligence and changing consumer habits, speaking at today’s ECR Hellas event. He described an environment in which competitive advantage will be determined not solely by prices, but increasingly by the use of data and relationships of trust with consumers.
“2030 sounds a long way off, but it is only four years away,” he said in response to a question on the subject, stressing that the future demands preparation and investment starting now.
In his remarks, Mr Masoutis spoke about artificial intelligence, saying that new technologies would fundamentally change the way businesses understand, plan and organise their day-to-day operations. However, he was quick to clarify that the technological transition does not diminish the importance of the human factor.
“I believe technology and artificial intelligence will change the way we view and organise our day-to-day operations. We need to see these developments as a tool,” he said, adding that “people will play a decisive role.”
In his view, the businesses that stand out in the years ahead will be those best able to understand consumer needs, harness the potential of technology and, above all, adapt quickly to change.
“The next battle will not be over prices, but the battle for data, technology and consumer trust,” he said.
Beyond the technological transition, Mr Masoutis highlighted the need for closer cooperation between retail and industry, at a time when the costs of producing and distributing products, the need to reduce waste and pressures on supply chains are creating shared challenges.
“Retail and industry need to sit at the same table for consumers,” he said, explaining that reducing waste, cutting production and distribution costs, and sharing expertise are areas where the two sides stand to gain more from cooperation than confrontation.
“We have common problems and need to find solutions,” he noted, stressing that the systematic exchange of knowledge can help create the conditions for more efficient operation across the entire value chain.
His remarks point to a broader challenge for the market: the need to move from a relationship often focused on negotiating commercial terms to a model of cooperation centred on productivity, efficiency and, ultimately, the consumer.
In the same context, he referred to the role of the Hellenic Supermarkets Association (editor’s note: Mr Masoutis is the association’s president), identifying meaningful representation of the sector and the development of common positions and proposals on issues facing organised retail businesses as key priorities.
Referring to his supermarket chain’s strategy, Giannis Masoutis said: “We did not treat growth as an end in itself. We invested in infrastructure, and every step was based on long-term strategic planning.”
He also stressed the importance of maintaining a business’s identity, even during periods of rapid expansion. “It takes boldness to recognise when there is an opportunity and when you need to wait and, of course, to make the right decisions,” Mr Masoutis said, describing the balance between taking business risks and maintaining the discipline of strategic planning.