2018 The Year in Retail
2018 has been a rollercoaster of a year for retail. The news is dominated by major changes to the retail landscape from: closures of household names, to major mergers, record-breaking revenues from the biggest eCommerce companies, and online sales growing to account for £1 in every £5 spent in the UK.
Three key trends are emerging to shape the future of retail:
1. The next point of growth for FMCG retail
This year we saw two occurrences of global retailers acquiring wholesalers indicating an emerging trend for 2019 and retailer’s next point of focus.
2. Pureplayers vs Omnichannel
The biggest 2018 sales records were set by pureplayers Amazon & Alibaba. Yet, Which? readers voted Omnichannel brand Liz Earle, as being the best website for customer experience proving that there is still substantial untapped opportunity for all brands to accelerate their eCommerce growth.
3. Online sales increase as brick and mortar sales decreased
The decreased retail footfall reflected the shift to online shopping this year. Brick and mortar is definitely not dead but needs to reinvent itself with the help of eCommerce.
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