When the going gets tough, the tough diversify

The initial ‘response’ phase of the pandemic is over. Now, as we’re adjusting to a state of normal(ish), it’s a good time to take stock and evaluate the current state of UK retail and hospitality.We’ve seen that many retailers used the downtime of the pandemic to diversify their sales channels. The boundaries between in-store and online have become increasingly blurred, and new channels and experiences are emerging. But how do we ensure that the values and personality of a brand stay consistent across the board? In this season of Beyond Retail, we explore the shape of retail ambition and look at how the lessons learned over the last two years are evolving the industry. In this premiere episode, we focus on how the explosion of diverse channels in the face of a global crisis turned out not to be just a temporary emergency measure, but a recipe for future success. The digital transformation during the pandemic means that consumers now expect more, faster, and with greater flexibility. Crew Clothing is a fashion brand that has had to adapt to changing consumer demands. Head of IT, Richard Surman, walks us through how they’re incorporating digital transformation to meet evolving consumer expectations such as potentially incorporating cryptocurrency payments. But what exactly are consumers’ demands, and how can we future-proof our retail operations to better predict and meet the needs of the consumers of the future? KPMG’s head of consumer markets, Linda Elliot breaks down the changes that she’s seen and what we can expect in the future when it comes to sustainability, cost, and digital engagement. One of the UK’s leading business experts and “customer whisperer'' Kate Hardcastle joins us to provide insights into how to provide a single identity across retail channels. It’s all about maintaining consistency across touchpoints and keeping the human element within all interactions. If you want to find out more about the technology and behavioural trends influencing retail, visit https://www.adyen.com/landing/online/us/download-the-retail-report-2022 to download Adyen’s latest research report.