There is no doubt that the UK retail market is facing its most challenging period. Things are stabilising somewhat post-Covid, but we are not out of the woods yet. It is fragile stability, so retailers must tread carefully to get sales back to pre-Covid levels. While retail sales volumes rose 2.2% above February 2020 pre-Covid levels, the growth was still lower than last year.

As the world goes back to a semblance of normalcy, online sales are dipping. There are new challenges to overcome. Consumers have higher expectations, lean more towards contactless pickup, and aren’t as loyal to brands as they used to be.

Because we are in a recession, people spend mostly on food essentials, so food retailers are seeing good sales. As the cost-of-living rises, non-food retailers have to battle harder for shoppers’ attention. A recent McKinsey Consumer Behavior Research revealed how consumers now demand more value than they did before. So only brands that show value will win.