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In this episode we speak to Matt Dalton, consumer sector leader at Forvis Mazars. Matt discussed the biggest challenges facing the retail sector, from cost pressures and wage increases to polarised property markets and geopolitical shocks, and the ways in which retailers can best navigate these. We also explore how short-term cost-cutting could undermine long-term resilience, and how retailers can best remain agile and adaptable in unforecastable times.

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​​John Lewis has revealed it has seen a surge in online sales amid the Covid-19 pandemic with consumers changing the way they shop with online sales accounting for between 60% to 70% of the retailer’s total sales, up from 40% before the pandemic.

The report, Shop, Live, Look 202, which analysed consumer shopping habits over the past year, revealed that tents, air fryers, trampolines, Crocs and night-wear were among the products that surged online sales in the past 12 months.

According to the brand, the shift is due to a change in customer expectation, with “flexibility and convenience” being central to customer needs.

The report found that UK consumers adapted to lockdown by “redesigning” their living spaces to make way for home offices and exercise equipment.

John Lewis has also expanded its click and collect service to over 1,000 locations and extended its services division into furniture rental and new financial services products as a result of the surge in online sales.

Pippa Wicks, executive director at John Lewis, said: “​​The unprecedented events of 2020 and 2021 have left a permanent mark on how we shop, live and look. People have become clearer about what matters to them and their work-life balance has shifted towards life. At John Lewis we’ve seen these changes emerge. We aim to delight, to deliver and to disrupt.

“We have analysed extensive internal data to get an insight into the products that defined the year, which we left behind plus the trends and themes which dominated the year.”

 

 

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