Comment
Comment features expert perspectives and thought leadership from across the UK retail industry. This section includes opinion pieces, analysis, and commentary from senior retail executives, analysts, and sector specialists on the commercial, strategic, and operational forces shaping retail. Retail Sector’s Comment coverage explores issues such as consumer behaviour shifts, technology adoption, sustainability, regulation, and leadership — providing retail professionals with authoritative insight to inform decision-making and strategic planning.
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Jan- 2024 -18 January
The retailer’s guide to live streaming and selling
Live streaming involves broadcasting real-time video content to an online audience. What sets it apart from pre-recorded videos is the immediate interaction it allows. Retailers are now using live streaming not just for brand awareness but also for direct sales. It’s like having a virtual storefront where you can showcase…
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17 January
Diversifying revenue streams: A strategic imperative for retailers
The COVID-19 pandemic highlighted the vulnerability of businesses that depended solely on physical retail. Diversification provides a safety net during crises and economic downturns. Consumer behaviours and preferences have also evolved rapidly and diversification allows retailers to adapt to changing market trends and seize emerging opportunities. Additionally, many retailers also…
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17 January
The power of user-generated content: A guide for retailers
User-generated content (UGC) refers to any content created by customers or users of a product or service. It can include customer reviews, testimonials, social media posts, images, videos, blog posts, and more. UGC provides an authentic and unbiased perspective on your brand, making it a valuable asset for retailers. The…
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12 January
WH Smith: new year – rebrand?
WH Smith decided to showcase a new, shortened version of its logo across 10 of its stores – some of which were in Preston and York – just in time for Christmas and the New Year. While the logo change was only supposed to be a test, the retailer caused…
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11 January
What went wrong with Wilko’s and who is next in 2024
As we begin the first quarter of 2024 much of the industry will be reflecting on the sector’s 2023 performance. For the majority, It was a tough year of trading. The question is what lessons have been learnt and how will the sector behave and perform this year. One of…
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9 January
A guide to effective crisis management for retailers
Prepare in advance The first step in crisis management is proactive preparation. Retailers should develop a comprehensive crisis management plan that includes: Identifying potential crises specific to the retail industry. Designating a crisis management team with clearly defined roles. Establishing communication protocols, both internal and external. Creating a repository of…
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8 January
Sonic Success: Understanding the importance of audio branding in retail
Building emotional connections – Sound has a remarkable ability to evoke emotions and trigger memories. A well-crafted audio brand can create a positive emotional connection with customers. For example, a soothing and familiar background music track can make shoppers feel relaxed and at ease, leading to a more enjoyable shopping…
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6 January
Managing retail cash flow and finances: A comprehensive guide for retailers
Create a detailed budget – The foundation of sound financial management is a well-crafted budget. Develop a comprehensive budget that outlines your projected income, expenses, and profits. Regularly review and update this budget to reflect changes in your business operations. Manage inventory effectively – Excessive inventory ties up cash and…
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5 January
Understanding consumer psychology: A retailer’s guide to boosting sales
Consumer psychology is the study of how individuals make decisions related to purchasing goods and services. It explores the intricate web of thoughts, emotions, and behaviours that drive consumers to choose one product over another. Understanding consumer psychology is akin to having the keys to unlocking the potential of your…
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4 January
A retailer’s guide to building a socially responsible brand
Define your values and commitment The foundation of a socially responsible brand lies in the definition of core values and unwavering commitment to social and environmental causes. Start by identifying the causes that align with your business ethos and connect with your target audience. Examples include championing fair labour practices,…
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