A new dawn for UK retailers
The pandemic accelerated digital progress in the UK’s retail sector by almost three years, according to our latest report with the Centre for Economics and Business Research.
Retailers saw a 13% increase in digital investment vs. 2019, with 76% speeding up technology adoption.
All these changes have helped increase employee productivity and boost both employee and customer satisfaction in retail organisations.
Digital investment is helping retailers reach their customers in new and increasingly personal ways through data analytics and new online services, paving the way for a better customer and employee experience and allowing them to react to demand more easily.
It’s helping to bring down fixed costs, too, with less need to rely on physical space. And it’s even having a positive impact on the environment – something many retail brands are keen to get behind.
But what does all this mean for you and your organisation? And how can you make the most of the opportunities ahead?
Report: The new everyday in retail
Earlier this year we talked to retailers up and down the UK to find out how they’ve adapted to life in lockdown.
It was an incredibly turbulent time for retailers, especially local shops that had been relying almost entirely on physical footfall.
But we uncovered some amazing stories of grit and innovation in the face of this seemingly insurmountable challenge. And digital change was at the heart of it all.
This report explores some of those stories, shining a light on Covid-driven digital change across the UK’s retail sector.
- How Hillier Nurseries went from being practically off-grid to a truly digital-first business
- How New Covent Garden Market's fruit and veg dealers developed ambitious new digital strategies to ensure they could still offer customers the very best produce during lockdown and beyond.
- How Mighty Small did the seemingly impossible: engineering a successful start-up during Covid (and going digital-first from day one)
- How both Warners Gin and Drinksfusion transformed their entire business models to cope with the challenges of trading in lockdown
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How can we help?
Investment in the following areas of Covid-driven digital change could add £236 billion to UK GDP by 2040:
- • Hybrid working technology
- • Digital delivery of services
- • Larger, richer data sets
We’ll help you adopt and improve all three in a way that works for you, your people and the customers you serve, not just today but in years to come.
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