Even with unprecedented challenges over the years; the retail industry has proven to be resilient. Over the long term; total retail sales have more than doubled since 1989; while the rise in online spending has made the UK a global leader in ecommerce. The sector employs almost 1 in 10 working adults. Furthermore; recent figures from the Office for National Statistics show that sales are more than 7% higher than their pre-coronavirus levels. However; predicting and preparing for the future has become increasingly difficult. Rapid changes in consumer behaviour; new technology and shifting regulations not to mention supply chain difficulties make it hard for leaders to plan ahead. So; what are successful retailers doing to set themselves ahead of the rest?
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