What factors will influence retail strategy this year?
Overarching themes in this year’s PEST analysis include:
- Global systemic restructuring: Supply chains, infrastructure and workforces are getting overhauled
- Tech is non-negotiable: From solopreneur suppliers to retail giants, companies will adopt innovations to stay competitive and productive
- Great CXpectations: Consumers’ high standards mean retailers and brands now need better, faster and more ethical practices
Adapting to Covid-19 variants, domestic sourcing and mesmerizing digital marketing will also affect companies and consumers this year.
What trends would you add?