The combined impact of COVID-19 and Brexit brought unparalleled challenges and uncertainty in 2020. As grocery and many online retailers saw a boom in trade and struggled to keep pace with demand, clothing retailers suffered, with many forced to close during lockdowns left with the wrong stock at the wrong time. This has resulted in retailers having to review their model overnight. We have seen massive scaling up in online capacity and booming retailers have been able to take on new staff meaning that some of the job losses have been balanced out.
But what comes next? It is unlikely that the pace of digital change will abate, but perhaps it will slow and rebalance as people begin to visit stores again. How will the environmental and climate change concerns impact supply? 2021 will see more plastics regulation and schemes like the Deposit Return Scheme for plastic bottles get a stage closer. Take a look at the key trends above to find out more about how all of this could impact your business.
If you have any questions on any of the key trends or would like to discuss how to future-proof your retail strategy please contact Dominic Watkins, Head of Retail, Food & Hospitality or any of the experts mentioned within the trends articles.