Brexit and the headache it is bringing continues to be on people's predictions for 2017. The retail sector and consumers are certainly going to feel a big hit as a result.
I am continuing to speak to my network and the difficulties they are having we price negotiations. At the end of 2016 we saw the stand off between Tesco and Unilever. Will we see more? However, it is the smaller companies that are going to see the biggest hit. Do you risk losing your largest customer or with the reduced margins, is it even worth keeping them??
Secondly, technology and its link to customer experience are going to see some interesting developments in 2017. Attracting customers to stores, rather than buying online will be part of this. How quickly people will adopt VR and how this can be incorporated in stores will be interesting.
However, it looks like online retail will continue to fight back, especially with the likes of Amazon launching new products such as Alexa.
Lets see what 2017 brings us....
2016 proved to be one of the most unpredictable years in recent history. Few would have guessed at the advent of the year what the landscape of the retail sector would look like in 12 months. However, unpredictability is not good for business. It is important to be able to plan, predict and anticipate coming trends and pressures so retailers can adapt and avoid becoming one of the many casualties we also saw in 2016. What does 2017 have in store? Will it prove to be just as unpredictable as last year, or can the industry hedge its bets on a few sure things? The Retail Gazette spoke to some of the most knowledgeable retail experts to find out their predictions for the coming year.