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Learn about our top 5 retail trends for 2022:
1) Digital dependency
2) Rebalancing physical retail
3) Supply chain disruption
4) Path to net zero carbon emissions
5) Protecting profitability
Richard Lim, CEO Retail Economics discusses these five trends and how they are affecting the retail industry:
The pandemic has reshaped the customer journey for many consumers, accelerating the online shift across all age groups with lasting impacts.
Physical retail has clearly taken a hit, but as the economic recovery is underway, retailers and brands need to be smart in how they influence consumer footfall to maximise success.
Supply chain issues have plagued many retailer's product lines with further disruptions anticipated throughout the year. New ways of sourcing and distribution will continue to be explored by many in 2022.
Industry restructuring continues unabated from the fallout. Many retailers and brands are needing to find new ways of operating in light of increasing ESG pressures as we work towards net zero carbon solutions.
Lastly, protecting profitability remains a key issue, especially with online operations where high return rates stifle profits and cause problems for stock re-entering internal supply chains.
2022 is going to be a crucial year for many businesses as they try to recover and thrive, having learnt valuable lessons from the past couple of years.
Contact us to find out how we can help you.
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Disclaimer:
The opinions contained in this publication do not necessarily reflect the views of Retail Economics. Whilst Retail Economics endeavours to ensure that the information in this publication is accurate and that the articles contain nothing prejudicial to the position or reputation of any party, Retail Economics shall not be liable for any damages (including without limitation, damages for loss of business or loss of profits) arising in contract, tort or otherwise from this publication or any information contained in it, or from any action or decision as a result of this publication.
(C) Retail Economics (2022). The contents of this publication and those of all ancillary documents and preparatory materials are the sole property of Retail Economics and are not to be copied, modified, published, distributed or commercially exploited other than with the express permission of Retail Economics. All rights reserved.
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