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New rules, challenges, and opportunities for the retail industry

Key strategies for 2021 and beyond

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The 2021 retail industry outlook

After the disruption consumers faced during the pandemic, retailers are starting to build back buyer confidence. This episode of Consumer Speaks provides a peek into the 2021 retail industry outlook, addressing the challenges and opportunities facing the retail industry—from critical investments and digital retail trends to supply chain management and bold differentiation.

Join host Sam Loughry and his guests, Lupine Skelly, Retail, Wholesale & Distribution research leader and manager at Deloitte Services LP’s Consumer Industry Center; and Jonathan Rothman, US Retail, Wholesale & Distribution Audit & Assurance leader and partner at Deloitte & Touche LLP. Their discussion covers how executives are addressing retail transformation, as well as critical investments to make this year and beyond.

The panic-buying spree of 2020 and the resulting whiplash effect on supply chains exposed several weaknesses in retailers’ data analytics capabilities. Nearly half of the executives said they plan to use better analytics in 2021 to improve decision-making.

2021 retail industry outlook

There’s little question retail has just lived through a market-shaping year. Consumer behavior changed overnight as health and safety concerns suddenly became a purchase driver. We saw technological adaption that would normally have taken years occur in a matter of months. COVID-19’s continued effects will be felt even after the pandemic subsides.

The retail evolution’s great acceleration

Could COVID-19 create a long-term shift in the retail industry? Learn more about prepandemic retail trends that are gaining momentum and how a recession could affect consumer behavior.

Are consumer habits revealing caution—or cautious optimism?

Even as COVID-19 cuts an unpredictable path, are consumer habits growing more predictable? Our interactive Deloitte Global State of the Consumer Tracker regularly surveys thousands of consumers in more than 15 countries, capturing a continual snapshot of worldwide consumer sentiment.

About consumer speaks

On the Consumer Speaks accounting and reporting podcast series, you’ll hear from our Deloitte leaders and professionals as they share their experiences and insights on timely topics across the automotive, consumer products, retail, wholesale and distribution, transportation, hospitality, and services industries. Stay informed on the hottest topics facing these industries and how they can affect your business.

Subscribe today and visit the Consumer Speaks library for the full collection of episodes.

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This podcast contains general information only and Deloitte is not, by means of this podcast, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This podcast is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this podcast.

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