Our CEO Tim got together with Andy Burton, CEO of Tryzens to reflect on the changes in the past 18 months and the impact global lockdowns have had in the retail sector. Find out the impact of Covid-19 on digital commerce, in this extensive 11-page e-guide. Here's an excerpt.
The biggest changes.
Non-essential retail stores, like many other businesses, were forced to shut their doors on & off over the course of rolling lockdowns. And as a result, consumers were left with the option of increasingly heading online in a bid to find the products they couldn’t get their hands on.
Unfortunately, but not surprisingly, this gravely impacted a vast number of large-scale and independent retailers. Meaning they’ve either folded, have gone through structured CVA’s, or changed ownership. Several have resurfaced post-restructuring as pure play online retailers.
As retailers were forced to scale back their store footprint, tens of thousands of jobs have been lost. And this is still happening. Retailers are considering closing more stores to support online sales or bolster more popular store locations. There has been a noticeable shift in shopping instore in more regional locations as more people moved to remote working and could move out of the city centres.
Some retailers, however, have been able to benefit from the definition of ‘essential retail’ and have found new ways to serve the market through their stores and product ranges.
The widening gap between successful and unsuccessful trading.
Where brick and mortar shops weren’t getting any action, online retailers became stretched beyond their means. For those that had the tech in place, fulfilling orders and, on some occasions, getting stock, became a challenge. They were experiencing and sustaining peak...
To read more, download your free copy now.
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