Omnichannel strategies set to dominate the “New normal” for the retail sector
Savills indicates that an integrated omnichannel strategy will lead the way as the European retail sector returns to a new normal. Impact of Covid-19 on European Retail from the international real estate advisor suggests that, despite the uncertainty created by the Covid-19 pandemic, retail sales have been slowly recovering (+ 0.7 percent year-on-year (y-o-y) in July) and some countries have seen a return of consumer confidence. In July total retail trade was above last year’s levels in Norway (13.8 percent), Ireland (9.1 percent), Netherlands (6 percent), France (5.8 percent), Denmark (5.6 percent) and Germany (3.5 percent), amongst others. Eri Mitsostergiou, Director in the European Research Division, commented: “Despite the cloud of negativity Covid-19 has bestowed on the retail sector, there are green shoots of positivity as Europe slowly returns to a new normal. Footfall is recovering thanks to the re-opening of retail and leisure formats across the continent.” E-commerce has surged across Europe during the lockdown, fast becoming the safest…
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