From the explosive growth of e-commerce to heightened pressure to meet consumer expectations of relaxed return policies to increased buyer remorse, the retail sector continues to remain volatile and unpredictable. As we’ve seen this year with the closure of BHS, even the largest retailers are not safe, whilst the fluctuating value of the pound following the EU referendum has put extra strain on the industry. Howard Rosenberg, CEO of B-Stock Solutions reveals his predictions for the retail sector in 2017.
1) E-commerce will take centre stage
One of the most noticeable trends from 2016 has been the continued growth of e-commerce, which is set to gather pace in 2017: online sales are expected to rise 15 per cent. This growth reflects how consumer attitudes to retail are shifting: consumers are moving away from the need to touch and try products on before they buy in favour of the convenience and autonomy of the 24/7 shopping experience.