The £15bn question – are you still investing in instore expertise?

With the Golden Quarter in full swing and the risk of another lockdown receding, it feels like physical retailers can finally focus on the future and doing what they do best. Namely serving the varied interests and needs of our nation of shoppers. While the terminals are processing payments, amidst the buzz of a seasonal discounting season, it may feel like we are back to 2019 normality. However, there is no escaping the pain that has occurred.

According to research from the British Retail Consortium (BRC) retailers lost some £22bn in lost in store revenue in 2020. Meanwhile the now (finally admitted to not be) temporary inflation spike, wage rises and supply chain challenges are further going to erode the potential for the sort of returns needed to get UK retailers fully back on track. Indeed the economic growth that has been so impressive this year will fall away to more palatable levels in 2023.

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