COVID-19: A perspective on the BRC-KPMG Retail Sales Monitor for May
COVID-19: A perspective on the BRC-KPMG RSM
Paul Martin discusses the findings of the BRC-KPMG Retail Sales Monitor and highlights four key focus areas for retailers in light of the results.
“The month of May was another difficult month for retailers. The BRC KPMG Monthly Retail Sales Monitor shows a decline of 5.9 percent in comparison to May 2019. This decline was less drastic than the 19.1 percent in April.”
With non-essential retail gradually due to restart this month, what are the considerations for retailers in the context of sector performance and consumer behaviour?
For May 2020, the BRC KPMG Monthly Retail Sales Monitor shows a decline of 5.9 percent in comparison to May 2019, however this decline was less drastic than the 19.1 percent decline experienced in April 2020.
Nevertheless, a continuing decline does highlight the severity of the crisis, which does mean consumers will continue to focus on buying the essentials. With this mind, many retailers will be under pressure over the next year and will have to radically review their cost base in light of this.
In our new reality video, Paul Martin, Partner, UK Head of Retail, discusses the finding of the BRC-KPMG Monthly Retail Sales Monitor and the four areas of focus for retailers:
- Cost of goods – does the breadth and depth of your ranges need to change going forward?
- Consideration of real estate - which physical assets do you require in the future?
- The new reality of the workforce – what shape does the workforce need to be going forward?
- Technology and supply chain - which technologies will drive efficiencies and how does the structure of your optimal network architecture enhance your performance going forward?
For further information, view the results of the full BRC-KPMG Retail Sales Monitor for May.
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