"Total sales in the UK have declined by 19.1 percent in April in comparison to the same month in 2019. "
In this video, I discuss the finding of the BRC-KPMG monthly Retail Sales Monitor and the next steps retailers need to take.
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COVID-19: BRC-KPMG Retail Sales monitor
COVID-19: BRC-KPMG Retail Sales monitor
Retailers have experienced varying successes as a result of COVID-19, with online channels, unsurprisingly, having a huge boost in sales – up by nearly 60 percent.
Now though, as retailers with physical stores, are looking to reopen in the coming weeks, the sector needs to consider four key areas to aid their recovery:
- Revisiting business models – dealing with new buying patterns and consumer behaviour, and exploring the potential for collaboration with others, including those who may once have been competitors.
- Reducing the cost of doing business – be this rationalising product offerings or optimising real estate portfolios.
- Demonstrating their purpose – sustainability will remain a top five board agenda
- Knowing your customer – those who personalise and communicate to their customers as individuals will benefit greatly
View the results of the full BRC-KPMG Retail Sales Monitor for April.
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