Retailers are coming out of what has been another challenging year but are undoubtedly now optimistic and looking forward to a prosperous festive season. Early reports paint a positive picture with ONS data showing an 0.8% rise in total sales volume in October, and GfK revealing that consumer confidence is on the up.
Beyond Christmas, however, the industry still has much to grapple with. The global supply chain crisis will continue to test even the best laid plans, not to mention the ongoing ripple effect of Covid restrictions and lockdowns and Brexit. As ever, agility will be key for overcoming such unpredictable socio-economic issues, but there are several challenges that retailers can address and mitigate now.
High on the agenda for 2022 will be sustainability. More than ever before, businesses are being held to account for their impact on the environment and, with consumers becoming increasingly sceptical, retailers must make meaningful changes to the way they operate or run the risk of losing their customers’ favour and trust.
For physical retail,…