Make worthwhile and lasting change in your business that inspires people, delivers results and improves systems.
All tagged Retail
Matthew Webber writes about retail transformation in disruptive times. It is both confronting and somewhat depressing to turn the pages (physically or digitally) of a newspaper to see yet another retailer fall victim to the economic climate. There is nothing nice about an empty shop front, the loss of jobs or the withdrawal of an important community institution.
We take a closer look at the impact of Covid-19 on household consumption and spending. Data shows that the household saving ratio hit heights not seen since the early 1970s. Reasons include: Precautionary, Investment or retirement, First home, Reduce loans.
Online retailers are forecast to increasingly expand into other sales channels over the next five years. This industry includes retailers that operate websites enabling consumers to purchase a range of products. Industry participants are either pure-play online retailers or bricks-and-mortar stores with an online presence.
Covid-19 has created several consumer segments as a result of varying attitudes. Concerns are centred around health, the economy (including income and unemployment), and climate change which is still a prominent issue. 80% are not willing to return to life as it was, driven by ongoing concerns about health and finances but also as a result of rethinking and resetting priorities.
We talk Department Store and Consumer Goods. Revenues are forecast to grow marginally over the next five years by 1.4%, as consumer goods retailers will continue to face strong competition from pure-play online stores that stock similar items at low prices.
