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...the brands we spoke to are optimistic. In fact, they’re confident that although Brexit and lockdown restrictions may delay growth temporarily, year-on- year growth will remain unaffected.”
with incompatibilities across borders, such as country-specific commodity codes, or couriers with conf licting fee structures.
Intermediaries can help ease the burden Keeping an eye on all the moving parts of a multi-channel retail business, while complying with ever-changing regulations, is daunting at the best of times. But as we enter into the murky waters of a full and final Brexit, tariffs and taxation, stock and delivery management, and data governance, will become more of a challenge. As a result, many brands are implementing a range of intermediary solutions to help expedite and simplify processes. For instance, SME eCommerce platforms are helping retailers deal with overseas dispatches and cross-border transactions. Meanwhile, automated sales tax solutions are helping retailers remain compliant throughout the supply chain.
In addition, delivery management platforms are enabling retailers to coordinate deliveries via multiple carrier networks in different countries. These platforms provide real-time delivery options, according to the best price or availability, via a single interface – and takes away the complication of setting up individual accounts with multiple couriers.
Brexit may slow growth – but won’t stop it So, the key question for multichannel retailers is: will they experience growth; will they f latline, or are they predicting a decline, during Spring/Summer 2021? Despite the uncertainty we find ourselves in this year, the brands we spoke to are optimistic. In fact, they’re confident that although Brexit and lockdown restrictions may delay growth temporarily, year-on-year growth will remain unaffected.
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Forecasting for an extended furlough Rather than assuming lockdown restrictions will ease by 2021, most retailers have accounted for the possibility of physical stores being closed in January, and perhaps even February. Forecasts for the first quarter of 2021 will be largely based upon online or click and collect channels, with the aim of resurrecting marketing activity around in-store purchases in the summer. Therefore, despite modest predictions for Spring/Summer growth, most retailers agree that this growth will only gain momentum as we head towards the Autumn/ Winter season.
The ‘supply and demand’ dilemma Up until now, the tendency has been to adjust stock according to demand. But today, the main limitation for many brands revolves around stock. Having placed orders back in June, several multi-channel retailers are now focussing their marketing efforts on f lattening the demand curve to allow for late deliveries.
Following the shift to online at the start of the pandemic, several retailers have reported strong customer acquisition this year. By using the next few months to get to know these recruits better, and therefore improve the customer experience, retailers are confident these new audiences will provide a solid platform for growth in 2021.
The consensus for 2021 is that although the pandemic and Brexit have left an indelible mark on the retail industry, things will get back to normal – or a new improved normal – before long. If anything, these events have prompted multi-channel retailers to revisit their marketing and fulfilment strategies, adopt technology to help streamline processes, and change the way they operate for better.
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