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Bira’s CEO shares possible exit strategy

Brave, customer-focussed retailers who work closely with others in their community are most likely to survive in post-lockdown UK, according to Bira’s CEO.

Andrew Goodacre has shared his thoughts for a possible exit strategy for the retail industry calling for restrictions to be first lifted for smaller shops and businesses.

It comes as pressure mounts on the Government to make clear when and how lockdown restrictions will start to be lifted.

The article also includes Andrew’s 10-point survival plan for independent retailers in the post-Covid-19 world.

And while he says Government support will be much needed, the onus also needs to be on the retailer to adapt to a changing landscape.

He said: “It’s not all about waiting for government intervention, as retailers themselves must take control of their own destiny.”

His survival strategy urges retailers to consider multi-channel sales, sustainable retail, customer-focussed experiences and bravery.

“There will be many new ideas introduced into the world of retailing – some will work and some won’t… be brave,” said Andrew.

However, he warned: “Unfortunately, there are some business that won’t survive. Retail was changing in any case. Covid-19 has bought together communities and, as I have said, I believe the independent retailer is the heart of every good high street.

“With a bit of luck and a lot of the creative, entrepreneurial flair that has always been part of successful retailing, I am confident that the ‘indie’ will continue to serve its consumer.”

Read the full article here

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