What’s taxing retailers?: Recent Episodes
Vertex, Oracle, KPMG
Disruption is nothing new in retail, but today’s executives haven’t faced anything like the events of 2020 in a very long time. But what tech and trends are creating the most challenges…and which are creating the most opportunity? In this series, we aim to answer one very big, important question: What’s Taxing Retailers?
The global pandemic created an extremely volatile business environment. Retailers and brands had to embrace new channels and stand-up new experiences in order to maintain business continuity and resilience. Many focused on their e-commerce businesses and ensuring that they were able to quickly and efficiently adapt to ever-changing consumer needs and demands. Cloud computing solutions supported retailers big and small in their efforts to remain agile and thrive in times of uncertainty. But the reality is, the cloud isn’t an industry standard, and some executives may be hesitant to make the leap for several reasons.
During this episode, industry experts will speak candidly about making the move to the cloud and will tackle myths and misconceptions head-on.
Episode Guests:
Chris Sarne – Senior Director of Product Management Strategy at Oracle Pete Olanday – Retail Practice Director for Vertex Consulting Michael Galella – Senior Director of Consulting for the Vertex Consulting CoE
Over the past year, we’ve seen organizations attempt to unlock new revenue streams and growth opportunities. One area where we’ve seen significant evolution and acceleration is marketplaces.
During this in-depth conversation, learn about the macro trends driving the marketplace movement, the different approaches organizations can take to build and scale their marketplaces, the complexities that will likely emerge, and most importantly, the financial and tax implications to prepare for.
Episode Guests:
Sandy Jacobs – Principal at KPMG Pete Olanday – Retail Practice Director for Vertex Consulting Nate Stohrer – Principal Consultant for the Retail Practice at Vertex
As vaccines roll out and we see a symbolic light at the end of the COVID-19 tunnel, executive leadership teams are asking one question: which consumer behaviors will stick for the long-term? These behaviors, of course, dictate where retailers prioritize their time and investments, and now, the stakes are higher for them to make the right decisions.
In this episode, discover some of the tech and experience trends that came into the spotlight during the pandemic as well as current trends and predictions around how they will evolve moving forward. Expert participants will also dig into the financial and tax implications that come with rolling out these kinds of experiences.
Episode Guests:
Nate Stohrer – Principal Consultant for the Retail Practice at Vertex Chris Sarne – Senior Director of Product Management Strategy at Oracle
2021 has been a landmark year for payments. Between the surge in demand for contactless payment options, to the success of “just walk out” experiences, and demand for “buy now, pay later” services, payment has become a critical conversation in the customer experience world. Not to mention, cryptocurrency is the new buzzword that everyone is yearning to learn about. But what can retailers do to determine which payment options and experiences are right for their business (and their consumers)? What technical complexities emerge and are there any tax considerations that executives need to note?
In this episode, we’ll highlight some of the top trends in payment and dig into associated vendors/players. Then, we will outline some of the considerations, questions and talking points that need to be addressed internally before retailers move forward.
Episode Guests:
David Deputy – Director of Strategic Development and Emerging Markets at Vertex Troy Hagey – Payments and Digital Transformation Leader, Financial Services at KPMG Sam Wyner – Director Advisory, Blockchain CoE at KPMG
ESG (Environmental, Social and Governance) is a developing set of principles which will increasingly impact the retail industry.
In 2019, The Business Roundtable produced a paper that was signed by 181 Chairpersons of global companies and firms. These leaders are redefining the traditional thought that shareholders are the ultimate beneficiary of a well-led and managed company. Today’s business leaders believe companies should also positively impact and be in service to employees, suppliers, customers, the communities they operate in, and the environment.
Although many retail businesses are doubling down on their societal contributions, especially through their diversity, equity and inclusion initiatives, there are significant environment-related issues that retail leaders can prioritize and, in turn, see positive results.
Enforcement of ESG initiatives will likely come in the form of additional income and excise taxes. On a different level, money managers are rating, following and investing in compliant ESG companies. That is why retailers, wholesalers, and distributors need tax professionals who are actively engaged and knowledgeable about ESG. Join us to learn how ESG uniquely impacts the retail landscape and learn key insights that can help you futureproof your tax strategy with ESG in mind.
Episode Guests:
Michael Bernard – Vice President of Tax Content and Chief Tax Officer at Vertex Mark Rems – Principal, Tax, SALT, at KPMG Brett Weaver – Partner at KPMG