The Covid-19 pandemic has had a profound impact on the UK retail sector, forcing businesses to adapt to changing consumer behaviours and government restrictions. One major consequence of the pandemic has been the shift towards online shopping, with many consumers opting for home delivery or click-and-collect services. This trend has continued post-Covid forcing many physical stores to close their doors.
Despite this surge in online sales, many retailers have struggled to stay afloat during the pandemic. The closure of non-essential shops for extended periods has hit bricks-and-mortar retailers hard, with some unfortunately being forced into administration or bankruptcy. Even those that have managed to survive are facing new challenges such as increased costs associated Brexit and the cost of living crisis.(more…)