Soaring rents and lower consumer spending have been blamed for the downfall of brands which have stood proudly on high streets and retail parks for many years. Yet while recent years have been bleak, some industry commentators are hopeful of an upturn in retailers’ fortunes.
Deloitte is optimistic about the potential for stores and omnichannel operators, saying changing fortunes will follow a time of reinvention and investment, which will ultimately serve to strengthen the sector.
No matter what the future holds, smart retailers all understand that right now, responding to the increased footfall generated by seasonal peaks such as Christmas is the utmost priority.
At a time where cutting prices is no longer a guaranteed or, in some instances, sustainable way to attract sales, delivering a positive or memorable experience can be far more valuable for the consumer, not to mention cost-effective for the retailer.