Traka open for debate on the future of the retail high street

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A new downloadable white paper from Traka focuses on the impact of the pandemic on the retail high street, presenting how the new data-savvy consumer is influenced by retailers embracing innovation, collaboration and new technology.

The white paper, entitled: “Adapting to the changing high street retail landscape", investigates the rapid change in the high street, and the opportunities available for a proactive approach to both digital transformation and a new era of customer experience.

Traka highlights how evolving opportunities, embracing innovation and local dynamics, including the need to understand technology and the impact it can have on its ability to serve, can play its part to enhance the physical store presence.

Matt Gregg, Retail Business Development Manager for Traka UK and author of the white paper emphasises:

Britain’s high streets have been the subject of much concern even before COVID, with many retail stalwarts toppled, BREXIT impacting on supply chains and the much publicised shift to online shopping.

 

We explore how the pandemic provided a once in a lifetime opportunity to re-write the existing rulebook, and take advantage of the growth of community support and local shopping.  It is testament to the importance of bricks and mortar retail and how retailers can enhance the consumer experience and see their return to the high street with a renewed sense of loyalty.

The white paper draws on the differing pandemic experiences in the retail landscape, with the most successful thriving on an omnichannel approach, whereby the online experience is recreated in store, with the benefit of human interaction to better predict their requirements.

Also discussed is the success of high street ‘heroes’ including Primark following the unlocking of the economy, together with the influences of Amazon, “the poster child of online retail", who has recently introduced physical retail channels and opened stores for its rated products, books and fresh produce business streams.

The success has been cited as retail channels understanding the opportunities available, including adopting new technology such as cashless and mobile first payment systems, alongside new expectations of the discerning customer.

Matt concludes:

The retail sector is at a critical point in its recovery.  We believe retailers do have an opportunity to embrace the new data-savvy consumer expectations and thrive. In this white paper, we have explored the different influences, taking leading industry comment and retail analysis to support our research.  We would love to see it as an opportunity to open a debate and explore the issues further to discuss what is invesitably a fast-moving, complex and evolving sector

In this white paper, we have explored the direct impact of the logistics and distribution sector, aligning it with the consumer demand for online shopping and the associated convenience. We highlight the sheer development of various technologies that can now be embraced to ensure the sector can safely maximise its newfound success and maintain consumer confidence.