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National Head of Retail & Consumer Products, Luke Ritchie, says retailers with deep connection to their customer communities are best placed to emerge stronger from the challenges wrought by the pandemic.
“Digital Transformation” is a common refrain amongst retailers grappling to respond to the explosion in online shopping brought on by the pandemic. Shrewd retailers understand this means far more than throwing money at a fancy website.
According to National Head of Retail & Consumer Products, Luke Ritchie, The explosion in online retail has been underlined by pureplay online businesses acquiring failing bricks-and-mortar retailers at bargain basement prices, only to relaunch them as online only operations.
The preliminary December 2020 retail figures from the ABS underline just how resilient the Australian retail sector has been throughout 2020.
For retailers, the Christmas period has always been make or break.
The economic health of the retail sector isn’t something that the Government can directly influence.
COVID-19 has changed the way we shop – perhaps forever. There is no retailer unaffected. But while many in the industry are experiencing hardships they might never bounce back from, it’s not all doom and gloom.
The coronavirus has turned retail on its head. Once we get through the pandemic restrictions, these five trends will drive retail over the coming years.
The shift to shopping online was already underway before COVID-19 struck. But the pandemic has unquestionably increased the pace of retail digital transformation
Restaurants are embracing ghost kitchens as a way of meeting the growing takeaway and home-delivery market without the cost of overheads for dine-in customers.
COVID-19 has decimated the retail landscape, to different degrees in different retail categories.
Any retailer which simply turns the lights back on and reverts to its traditional model post coronavirus is doomed