Retail Critical Issues

Contactless payments have taken a leap forward during 2020, in part driven by concerns around the potential spread of COVID-19. In the Nordics, the contactless payment ratio has grown from around 57 per cent in early January to 75 per cent of all in-store card payments in late October this year, according to data from Nets, the Nordic payment provider.

2020 has been an exceptional year for the retail sector, with all businesses having to rapidly adapt in some way or another. Such a time of upheaval has led to a permanent, irreversible change in consumer behaviour as shoppers embrace the convenience and security of e-commerce more readily. This is according to retail technology expert Conversity, which has released its predictions for the sector for 2021.

October’s retail sales estimates, released by the Office for National Statistics (ONS), reveal sales volumes soared by 5.8% YOY, up 1.2% from September’s results.

An executive at one of the UK’s largest multi-modal logistics platforms has warned that a surge in online demand for goods this Christmas as a result of the pandemic will test supply chains to the limit in the lead up to the festive period.

Several hundred million mail parcels destined for the US will be rejected when the requirement for a higher threshold of advance electronic data comes into force on 1 January 2021.

By Barley Laing, UK Managing Director at Melissa.

With the festive ads of big retailers hitting our screens and Black Friday not far away, the busiest trading period of the year is getting into full swing.

By David Thomas, General Manager, ZoneSafe - Proximity Warning & Alert Systems.

The boom in online retail in recent years has undoubtedly boosted warehouse and logistics operation in the UK while the circumstances of 2020 continue to fuel further growth within the industry as consumers steer clear of the high street; opting instead for online shopping and delivery.

More than half of UK and Irish businesses plan to run their Black Friday campaigns as planned or with further investment than originally planned, despite the ongoing impact of the coronavirus pandemic.

Six months after COVID-19 started making its mark across the world, lockdown restrictions and widespread working from home offices have caused many consumers to rethink their shopping habits. Retail technology company Conversity believes that understanding the intricacies of these new mindsets is vital if brands are to thrive in the post-pandemic world.

If Britain’s retail businesses are to protect their trading links with customers across Europe and beyond from the end of the year, it is vital that they prepare as fully as possible for the post-Brexit trading environment, according to business group Logistics UK.