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A View from the Experts: The Shape of Retail 2023

From financial wellbeing to staffing challenges, how is retail technology supporting the industry in 2023?

Post-pandemic, many retailers were hopeful for sustained growth and recovery. Instead, they face rising inflation, and a cost-of-living crisis, and have seen the day-to-day cost of running a brick-and-mortar store peak. With seasonal consumer spending expected to fall short as we end the year, retail’s challenges and opportunities are shaping up for 2023.

Our latest data shows the supply chain remains one of the biggest worries for retailers in 2023. So with consumers planning to spend even less next year across a variety of items, retailers must offer a superior customer experience. This can only be realised with an engaged, supported, and efficient workforce, but finding and retaining the right talent remains a key hurdle for retail leaders.

We’ll also see new trends emerge, as QR codes look likely to become a larger part of the shopping experience. Technology is also important for employees, with HR and workforce management technology – from flexible pay with earned wage access to digital scheduling – called for throughout the workforce.

In this report, we analyse our latest data delving into the current shape of the retail industry, and explore the part technology will play in navigating the challenges and opportunities of the next year. Key considerations include:

  • How retailers plan to respond to fluctuating consumer spending habits in the face of the cost of living crisis
  • How retail’s long-persisting talent shortages will evolve in 2023
  • How to ensure the financial wellbeing of your retail employees
  • How to utilise retail technology for a more engaged workforce

Download the report

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