The great retail reset - fact or fiction?
The COVID-19 pandemic has caused significant disruptions in the consumer goods retail industry globally. Retailers have had to adapt to changing consumer behaviours and preferences, with a particular acceleration towards online and omnichannel retailing.
Retailers are facing challenges that are expected to last beyond the pandemic, adapting to a shifting landscape. The ability to embrace new strategies, tools and tactics and to pivot quickly, when necessary, are the new status quo and are shaping a new era of retail.
Reset or not, staying relevant and being competitive will be key as retailers continue to navigate uncertainty.
This edition of our COVID Impact Series analyses the retail industry in Australia.