Women hold half of retail board seats but ethnic diversity falls, BRC finds
Nearly 70% of businesses reported having at least one senior leader from a lower socioeconomic background, while 67% identified at least one LGBTQ+ leader
Gender representation in retail boardrooms has increased significantly, with women now holding 47% of board seats compared with 32% in 2019, according to a report by the British Retail Consortium (BRC) and executive search firm the MBS Group.
The report found that many retailers have invested in leadership development programmes, including mentoring schemes and employee-led diversity initiatives, to improve gender balance at senior levels.
However, ethnic minority representation at board level has declined. The proportion of retail boards with at least one ethnic minority member dropped from 12% last year to 8% in the latest data.
Representation of disabled people and those from lower socioeconomic backgrounds showed limited progress, while inclusion metrics remained low across several demographic groups.
Respondents identifying as Black, disabled, or who chose not to disclose their gender reported a lower sense of workplace belonging.
Additionally, the proportion of retailers with a coordinated diversity and inclusion (D&I) strategy rose to 98%, up from 90% in 2023.
Nearly 70% of businesses reported having at least one senior leader from a lower socioeconomic background, while 67% identified at least one LGBTQ+ leader. The proportion reporting at least one disabled leader rose from 11% to 15%.
The BRC emphasised the importance of chief executive involvement in sustaining progress, saying that leadership buy-in and staff engagement were essential for fostering inclusion.
Nearly 90 retailers have signed the BRC’s D&I Charter, launched in 2021, which encourages action on recruitment, progression, reporting, inclusivity, responsibility and CEO oversight.
Helen Dickinson, BRC chief executive, said: “Retailers should celebrate the enormous efforts made to ensure more women have a seat at the executive table. More than half of retail customer bases are women, so having their perspective is essential to success.
“But, if this year’s results have shown us anything, it is that we cannot rest on our laurels as progress can quickly fade. There is little point in having more diverse leadership if this does not translate into the lived experience of people within a business.”
Elliott Goldstein, managing partner at the MBS Group, added: “Although we have seen real progress since our research began in 2021 – more than half of all direct reports into the executive committee in retail today are women – progress in moving the dial on ethnic diversity in leadership has been less encouraging.
“To ensure lasting change, retailers must continue to put their heads above the parapet to drive forward initiatives and commit to building work environments that are truly inclusive.”
