We see retail changing at an unprecedented rate, and with it come big challenges and opportunities.
2019 had the slowest rate of spending growth since 2010, largely driven by Brexit uncertainty. The industry faced large-scale business restructuring: 85,000 jobs lost, a third of FTSE 350 CEOs changing, and 9,169 store closures. Despite this, online sales continued to grow, reaching 21% of total sales. There was also a rise in activism, largely driven by millennials and Gen Z who are demanding their voices be heard. These factors combined are going to have a huge impact on the consumer world, not just for the next year but for the decade ahead.
Customers expect unique experiences, both in store and online. Whether that be through curated marketplaces, connected spaces or digital journeys, customers are wanting to have an emotional connection to their shopping experience. Find out how V-360 can help your brand evolve.