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Trends and future predictions for the retail industry
Retail has been hit hard by the pandemic and the on-going economic turmoil . The industry has had to adapt to new ways of working to survive , including exploring the new technology available . Rob Shaw , SVP Global Sales at Fluent Commerce , delves into current trends impacting the industry and what ’ s next for retail .
It ’ s been far from plain sailing for the retail industry over the last couple of years . A global pandemic coupled with on-going economic instability has seen many longstanding retailers shut up shop for good . Some high streets have become ghost towns with nothing replacing the empty lots where the likes of Debenhams , Laura Ashley and Topshop used to stand . On the other hand , luxury brands , value-based companies and DIY stores are booming . Coupled with the unprecedented rise in e-commerce , new jobs and opportunities have arisen across these categories .
The way people like to shop has invariably changed with today ’ s consumers expecting more convenience and reliability , next day delivery and environmentally friendly options . Those retailers that have successfully adapted their offerings have been able to reap the rewards . But how can they bring this forward in 2023 ?
1 . Recruitment and tech talent
Recruitment trends such as The Great Resignation have impacted businesses across industries , with retail being no exception . In the early stages of the pandemic , it was hard to find people who wanted to move jobs because they valued security over new opportunities . As the world stabilised , this turned on its head . Salary demands went up and people looked elsewhere as they saw green shoots of recovery , while businesses wanted to hire quickly to expedite this growth . Fast forward to today and there is a reset www . intelligentcxo . com
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