• 35 MIN

SMU Industry Leaders Virtual Dialogue

SMU Industry Leaders Virtual Dialogue

By SMU City Perspectives team

Published 26 May, 2020


POINT OF VIEW

The impact that technology has is wreaking havoc on brick-and-mortar retailers around the world. And then you have the U.S.-China trade war, and now COVID-19. If you have any of one of those, it’s shock[ing] enough. If you have all three impacting the global economy and the global supply chains, I would have to say that is tantamount to a total reinvention.

Dr Victor Fung

Group Chairman of Fung Group; Chair of SMU International Advisory Council (IAC) China


In brief

  • According to Dr Victor Fung, there are many challenges facing the retail industry today. In addition to the trade war and COVID-19, new technologies and innovations have the potential to disrupt our world of retail in unprecedented ways. 
  • The global COVID-19 pandemic is more than just a health crisis. Nations are experiencing the effects of a new world order in technology and geopolitics. As a result, everything from the transport of goods to the ability to communicate at home or while working is subject to reinvention.
  • With the dawn of a new era, Dr Fung said companies must look beyond simply finding and serving customers in their home country. It is no longer a B2B type of situation; it’s B-to-small-B to the consumer. So, you’ve got to think about new forms of distribution to reach those people through technology.

SMU Industry Leaders Virtual Dialogue featuring Dr Victor Fung, Group Chairman of Fung Group and Chair of SMU International Advisory Council (IAC) China.

What insights come to mind?

What insights come to mind?

Respond to see what others think

What makes you skeptical?

We read every single story, comment and idea; and consolidate them into insights for our writer community.

What makes you curious?

We read every single story, comment and idea; and consolidate them into insights for our writer community.

What makes you optimistic?

We read every single story, comment and idea; and consolidate them into insights for our writer community.

What makes you on the fence?

We read every single story, comment and idea; and consolidate them into insights for our writer community.

Story successfully submitted.

Story successfully submitted.

Thank you for your story. We'll be consolidating all stories to kickstart a discussion portal in our next release. Subscribe to get updates on its launch.

I consent to SMU collecting, using and disclosing my personal data to provide information relating to XXX offered by SMU that I am signing up for/that I have indicated my interest in.

I can find out about my rights and choices and how my personal data is used and disclosed here.


Inside the mind of

Dr Victor K. Fung serves as Chair of the SMU International Advisory Council (IAC) China. He is Group Chairman of the Fung Group, a Hong Kong-based multinational group which comprises major operating groups engaging in trading, logistics, distribution and retailing including privately held Li & Fung Limited and publicly listed Convenience Retail Asia Limited. Dr Fung played a leading role in driving the development of the supply chain infrastructure at Li & Fung Limited, which has enabled it to become the leading consumer goods design, development, sourcing, and logistics company for major retailers and brands around the world.