Even before the Covid-19 crisis, retail had been transformed by the impact of digital.
It has changed the way that we shop, altered the economics of stores and forced a rethink of their role. It has upended the definition of convenience and shifted the very basis on which many retailers compete.
Some players have not been able to keep up with the pace of change and this has contributed to their demise.
The sudden impact of the pandemic has accelerated these changes, but this so-called ‘transformation’ has been going on relentlessly for the last 20 years. The need to innovate is still as pressing as ever.
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