What did we learn from the retail sector in 2020 and how can retailers and consumer goods businesses respond?
The retail and consumer industries saw their fair share of challenges last year: a global pandemic, the forced closure of non-essential stores, reduced consumer footfall, new routes to market, supply chain interruptions and a shortened in-store Golden Quarter trading period, among many others.
But despite a dramatic 2020, some sectors performed better than many expected, with many categories recovering quickly and Christmas trading holding up well. Though some struggled, online shopping boomed and consumer sentiment stayed strong. It might have been another tough year for retail, with challenges still ahead, but there are signs of optimism for 2021.
Certain categories will experience different challenges this year, but there will be opportunities too. As we begin to move from survival to recovery, our Retail Outlook Hub 2021 provides insight for businesses to find and capitalise those opportunities.
We’ve looked at the topics likely to shape retail this year and have created short insights that provide practical, actionable tips for both retailers and the organisations that supply them.