It’s hard to think of a year, in recent history, when shopping patterns changed as drastically as they did in 2020. In fact, a recent report from Accenture reveals that, as a result of the pandemic, the rise in online shopping alone has led to 10 years worth of growth in e-commerce in a matter of months. As we enter a second wave of COVID-19 in the UK, there’s no doubt that the pace of change in retail will not slow down and that retailers will need to continue to adapt swiftly to survive the next six months.
For the retailers who find themselves in a position of having to make big changes now, there’s inspiration to be taken from those that are already thriving. Retailers who are doing well are the ones that embraced agility head-on such as Ocado and Tesco — recognising early on during the pandemic that they needed to do more than just respond rapidly to changing consumer patterns and new social distancing measures. These retailers are continuously redefining their operations to become more proactive, rather than reactive, and are using data to their advantage.
This article was also published in The Retailer, our quarterly online magazine providing thought-leading insights from BRC experts and Associate Members.
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