Page 32 - February 2021

global 2021 retail Forecast

A Case For

Optimism

After a year unlike any other, the retail world has been left to reflect on the challenges
that 2020 presented and what possibilities there are in 2021. The road to recovery

begins here and it seems that brands are approaching this year with cautious
positivity as a new dawn for retail emerges amid the ongoing pandemic.

ith everything that has happened in the past town centres that have been re-engineered to reflect the
12 months, it feels safe to say that we are future rather than the past. Positive counterpoints to all the
in the middle of a retail revolution. Be it the pain the retail sector has had to endure in recent years and
W changing requirements for customer loyalty, a blueprint for retail’s future.”
the increased reliance and necessity of online retailing or the Because of the Covid-19 pandemic, many new trends have
fact established and long-standing companies are disappearing revealed themselves in recent months, and an article titled
and being replaced with new start-ups that are changing the ‘The Future of Shopping: 3 Trends to Watch on the Retail Dive
face of retail, things may never go back to what people say is website highlights some important ones. ‘In-store and online
‘normal’, but retail itself will not disappear, it may just look and reverse roles’ highlights that whilst consumers traditionally
feel different to what any of us have known before. visited brick-and-mortar stores for their shopping experience,
Speaking on retail and what the future holds, Stephen this is now not always the case and online retailing plays a
Springham, Partner – Head of Retail Research at Knight bigger part in the experience than ever before. Another is ‘A
Frank suggests: “A consumer willing to spend, a changing of re-examination of in-store vs. online shopping priorities’ which
the guard amongst occupiers, the emergence of a new breed highlights that price has historically been a key priority for
to take the market forward, fewer but fitter operators, less shoppers, but with the onset of Covid-19, safety and efficiency
but better floorspace, a renewed sense of purpose within are now priorities for brick-and-mortar retailers, and added

32 RETAIL & LEISURE INTERNATIONAL FEBRUARY 2021