Brave, customer-focused retailers who work closely with others in their community are most likely to survive in post-lockdown UK, according to the head of the British Independent Retail Association.
Andrew Goodacre has shared his thoughts for a possible exit strategy for the retail industry, calling for restrictions to be first lifted for smaller shops and businesses.
His words come as pressure mounts on the Government to make clear when and how lockdown restrictions will start to be lifted.
CHANGING
And, while he says government support will be much needed, the onus also needs to be on the retailer to adapt to a changing landscape.
“It’s not all about waiting for government intervention, as retailers themselves must take control of their own destiny,” he said.
His survival strategy urges retailers to consider multi-channel sales, sustainable retail, customer-focused experiences – and to be brave.
“There will be many new ideas introduced into the world of retailing – some will work and some won’t… be brave,” said Andrew.
But he warned: “Unfortunately, there are some business that won’t survive. Retail was changing in any case. Covid-19 has bought together communities and, as I have said, I believe the independent retailer is the heart of every good high street.
“With a bit of luck and a lot of the creative, entrepreneurial flair that has always been part of successful retailing, I am confident that the ‘indie’ will continue to serve its consumer.”
