The retail industry is facing unprecedented challenges. Across all sectors and markets, retailers are shifting their business models and customer engagement strategies to ensure their survival. Frictionless commerce is becoming a reality and the store of the future will be less about transactions and more of a focus for experiences.
As part of The Retail Bulletin Omni Futures event, Linnworks CEO Callum Campbell joined Darren Williams Executive Chairman Scrubd, Ken Daly, CEO, JML Group and David Robinson, Chief Operating Officer - Retail, Pets at Home, to discuss what the next steps are for retail post COVID-19 and how merchants can maintain the momentum to build on any progress made during the past 12 months.
As part of the Q&A, Campbell outlined how the rise of the 'effortless economy' has created challenges for brands and retailers as the consumer landscape has shifted at an accelerated pace. Commerce is happening increasingly on the consumer's terms so brands have to think about how they serve their customers increased expectations. Also the rise of social commerce and continued growth of marketplaces means retailers need to have a strategy to reach their audiences in all of these channels. Direct-to-consumer on the rise is another challenge to add into the strategic retail mix, with brands having to understand how to differentiate their retail offerings in each of these channels to be competitive.
Watch the video above for the full fireside chat and Q&A.