• Paul Martin, Partner |

"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.

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:

  1. 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.
  2. Reducing the cost of doing business – be this rationalising product offerings or optimising real estate portfolios.
  3. Demonstrating their purpose – sustainability will remain a top five board agenda
  4. 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.