COVID-19 and the Retail Sector: Market Report
Whilst the world is working hard to beat coronavirus, life, in many senses, goes on. For those working in the retail sector in particular, the threat of reduced spend, impossible footfall, stock shortages and more mean that business remains highly unpredictable – causing huge challenges across the board.
The COVID-19 and the Retail Sector report provides an in-depth review of the UK’s retail industry amidst the COVID-19 pandemic landscape.
By analysing data from a variety of official sources on metrics including search volumes, the report shows how the industry has been affected, looking at how each specific sector of retail has been impacted by coronavirus.
It also documents how retailers are changing their processes to benefit consumers and what government support is provided for retailers at this time. The report will also highlight what companies are doing to support each other and the industry as a whole.
Contents of the report
The COVID-19 and the Retail Sector report is an in-depth exploration of the impact of the current pandemic on the UK retail sector and includes analysis of:
- Food and drink retail
- Health and beauty retail
- Home retail
- Sport and leisure retail
- Technology retail
- Entertainment retail
- Fashion retail
Throughout the report, you will find expert insight and commentary including:
- Landscape analyses
- A look at major players in each sector and how they’ve responded
- Industry demand and search data
- Industry specific insights
- Support available for each industry
COVID-19 and the retail sector: the impact so far
According to the findings of the report, the impact of coronavirus on the retail sector has already been extensive – with more becoming apparent in the coming months.
As highlighted in the report, retailers thus far have experienced an array of challenges including:
Changes in consumer behaviour
The changing consumer landscape is affecting retailers across the board as they move to service new customer expectations. The report highlights how these changes are manifesting themselves in buyer behaviours and trends and how retailers thus far have pivoted and adapted to respond.
Challenges in the supply chain
The supply chain has been affected across retail; in some cases, the challenges of obtaining stock have caused issues leading to the reduction in fulfilment and loss in business revenue. In other cases, demand has outweighed supply, particularly in areas such as sport and leisure, where the UK’s lockdown has changed consumer behaviour and driven new ‘seasonalities’ to which many retailers have been able to respond.
The report highlights these challenges and how retailers are adapting to overcome them to continue to service their customers’ needs.
Online vs offline retail
While some retailers have seen the impact of reduced footfall on their bottom lines, there are others for whom the move to online shopping has opened up the marketplace and surfaced new opportunities that might otherwise have lain undiscovered or unexplored.
The report shows how online search behaviour has given light to the needs of the ‘new normal’.
How to use this report
The COVID-19 and the Retail Sector report has been devised by the experts at Text Anywhere.
Using a combination of external data with data-driven analysis, the report aims to support retailers during this challenging time by giving light to the issues they face, the solutions in place and the insights that will drive future thinking.
Download the report now to read it in full. The report is available free of charge to support British retailers. For any further information, contact the team at Text Anywhere on firstname.lastname@example.org.