My Bottom Line: Ian Cheshire, Kingfisher
Ian Cheshire is the chief executive of home improvement retailer Kingfisher, whose brands include B&Q and Screwfix.
He says the biggest challenge for retailers is coping with the shift in consumer shopping patterns - particularly that caused by the mobile internet.
Ian says the challenge is figuring out how to use that trend to change your business model and use the technology to help customers and give them more information.
Retailers, he says, are having to rethink their business models and the way they communicate with customers as a result in this shift in technology.
Find more business wisdom from other chief executives on the My Bottom Line website.