The Retailer Summer Edition_2020

in mind, leaders must think carefully about whether their organisation is equipped for the future. We have seen many companies turning to interim leaders: temporary executives who can balance a deep understanding of the sector with a fresh, outsider perspective are particularly effective and can present an invaluable opportunity for businesses as they move through uncharted waters. Lastly, retailers should ensure that diversity remains high on the corporate agenda. Businesses that fail to prioritise diversity and inclusion – especially now – will suffer as they find themselves outrun by their more forward-thinking competitors who can bring real diversity of thought to a problem. Amid the disruption of forthcoming restructuring, there is opportunity to really move the dial on diversity. Indeed, Covid-19 has served to bring flexible and home working into the mainstream, as well as humanise our colleagues and peers from right across the industry, creating exactly the right environment to ramp up focus on diversity. Businesses that fail to prioritise D&I in this period risk falling out of favour with consumers and losing their ‘social license’.

Covid-19 has created exactly the right environment to ramp up focus on diversity

Over the last few months, we have all come together as a retail community to address common issues and challenges. In times such as these, we can be proud that UK retail has shone as a beacon of hope, resilience, customer-centricity and collaboration. As we move into new phases of transformation and future- visioning, I for one hope we will maintain the values, pace and resilience that we have all shown during the initial phases of Covid-19.

ELLIOTT GOLDSTEIN // // 020 7722 1221

the retailer | summer 2020 | 31

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