Findings from the following report, survey and analysis provide important readings on key segments of the business world. Current statistics on women CEOs, the 2021 outlook for small- and medium-sized business owners as well as tips for navigating the future of retail offer critical insights as we move forward.
2020 Women CEOs in America Report: Changing the Face of Business Leadership
C200, Catalyst and Women Business Collaborative (WBC) released the 2020 Women CEOs in America Report: Changing the Face of Business Leadership. This first of its kind report tells a comprehensive story of women CEO leadership today in not only Fortune 500, S&P 500, and Russell 3000 companies, but in private companies including media and finance. This report shares both the data and the profiles of model women CEOs, as well as providing economic perspectives and analysis of how to address the scarcity of diversity within the pipeline. The report profiles women CEOs and analyzes the pipeline across the public and private sectors, and with its companion monitoring tool offers critical insights to understanding women’s leadership in corporate America.
Today, 7.8% or 39 of Fortune 500 CEOs are women, and less than 1% identify as a person of color. Thus, each appointment of a woman CEO is critical. In February 2021, the number will increase to 40 women CEOs in the Fortune 500, or 8%, when Jane Fraser assumes control at Citi. C200, Catalyst and WBC are hopeful more women will be appointed CEO within the next six months.
The complete 2020 Women CEOs in America Report: Changing the Face of Business Leadership is available at http://womenceoreport.org/
83% Of Small Business Owners Report Optimism For 2021
A new survey of small and medium-sized business (SMB) owners describes their outlook for 2021 as optimistic despite the significant impact of COVID-19 on business performance throughout 2020. The report, authored by GCV Capital and Hello Alice, also suggests that business owners expect an uptick in hiring, technology purchases, and overall growth.
There are 30 million SMBs in the U.S., employing 60% of Americans and representing 40% of U.S. GDP. According to the data, 64% of 4,100 SMB owners surveyed said their business performance was worse in 2020 than in 2019, and 45% were forced to lay off employees. Also, businesses owned by women, people of color, and U.S. veterans have been impacted disproportionately by the pandemic and other challenges of 2020.
In contrast, the sentiment for 2021 reflects the resilience of small business owners to find new ways to reach customers, leverage technology to accelerate growth, and adapt operations to survive and thrive, resulting in significant optimism for next year.
- 83% believe their business will perform better in 2021 than in 2020 (4,106 owners).
- 93% plan to hire in 2021 compared to 45% that laid-off employees in 2020 (4,111 owners).
- 75% intend to spend more on technology in 2021 than in 2020 (784 owners).
- 75% called on the government for assistance in the form of emergency grants, long-term grants, and rent relief (97,341 owners) even though only 52% (of 4,134 owners surveyed) applied for loans from the Paycheck Protection Program due to the program’s lack of access and focus on SMBs.
GGV Capital’s SMBTech Index, also launched today, underscores these findings and suggests a similarly positive outlook and strength in small business development. The Index, now 22 publicly traded companies that provide the technology that powers small businesses, has grown from approximately $15 billion in public market value in 2010 to $200 billion in 2018 and $566 billion today.
Four Ps Disrupting the Future of Retail
Rapid technology advancements and rising customer expectations have transformed the global retail industry in the past decade. However, the COVID-19 pandemic has been a key disruptor. Frost & Sullivan’s recent analysis, The Four Ps of the Future of Retail, highlights the four aspects of retail–future retail place, future points of commerce, future people and future processes–in the post-COVID era. In this constant state of flux, retailers should understand the industry’s current trajectory and prepare strategies to gain an edge over competitors while maintaining financial solvency. These four Ps will help retailers develop their roadmap.
To tap into the growth prospects, vendors need to focus on the following:
- Future retail place: Online retailers will aggressively partner with or acquire companies with a strong physical footprint to provide an effective online-to-offline experience.
- Future points of commerce: The rise of the Internet of Things and the growing trend of sensorization will mandate that retailers and brands develop new strategies to compete and lead in these new points of commerce, such as smart home commerce, in-vehicle commerce, and anywhere commerce.
- Future people: Vendors need to understand the purchasing habits of Gen Alpha. This group comprises the latest power brokers in the family and will also become a dominant population cohort by 2025.
- Future process: Contactless shopping will gain prominence in the post-COVID world. Retailers will increasingly invest in digital technologies, including augmented reality, ambient commerce, artificial intelligence, automation and data analytics to gain a competitive advantage.
The Four Ps of the Future of Retail is the latest addition to Frost & Sullivan’s Visionary Innovation Group research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.