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Retailing has had to face enormous existential challenges. From the Covid-19 pandemic through to today’s worsening macro economic conditions, there are increasing operational pressures and serious impacts on millions of consumers around the world.
The retail industry’s response has been to show incredible resilience, implement rapid change, embrace risk and to be more creative than ever. Today’s economic pressures make it imperative for retailers to take decisive action in the short term to help their customers whilst continuing to focus on the long term roadmap towards a new retail model.
In having to adjust to these extraordinary and unpredictable times, the retail winners are those that lead their sectors but also set standards that can be admired globally.