FEATURED ARTICLE
THE RETAIL INDUSTRY ... MOVING FORWARD
The global health crisis that continues to grip the world has been completely unprecedented .
Ian McGariggle
Chairman World Retail Congress
Never before has there been a single incident that has swept around the world and impacted everything , retail included , in exactly the same way and at exactly the same time no matter which hemisphere or how wealthy or poor the country . Here we are , already more than half way through the year and the alarming reality is that the sense of crisis has not gone away . It may be fading as the global race to vaccinate really gathers pace but many countries are still facing fresh waves and variants of the virus .
What has been striking however throughout this crisis is the ability and agility of retailing right around the world to do whatever it takes to adapt to the chaotic and challenging phases of this pandemic . Retail has had to cope with its stores being forced to shut , to open again before being shut once more or with heavily restricted opening regulations . It has had to accelerate its online capabilities and services to meet consumer demand which was forced to go digital and has then stayed online . Leadership teams have had to lose employees , furlough others and hire thousands for the new online and delivery services .
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Retail has had to cope with its stores being forced to shut , to open again before being shut once more or with heavily
” restricted opening regulations .
All retailers , not just those deemed as “ essential ” have clearly played their part in supporting people , communities and national economies . The contribution of the retail industry to society and economies right around the world has finally been recognized and that is really important . It is also interesting that consumers back this belief . In the 2021 Edelman Trust Barometer which interviewed thousands of people across 14 countries , business and business leaders were trusted to help and support them far more than politicians and governments .
So , can we start to see how retail will look on the other side of this crisis ? Firstly , it is important to take stock of what we know has changed . Right around the world , there is a consistent message from all retailers that they have experienced a
20 27TH NATIONAL RETAIL CONFERENCE & STORES ASIA EXPO 2021 AUGUST 12-13 , 2021