As retail sales continue to decrease – with UK Christmas sales set to fall by £2.51 billion compared to last year – retailers must focus on technological innovation to attract new customers in 2023. Digital skills such as software architecture, data analysis and AI and automation will enable retailers to remain competitive and spur growth. Yet, despite digital skills now being required for 79% of all retail jobs, such demand has outgrown the level of digital skills available.
With the UK currently facing its most challenging economic climate in decades, now is the time for retail companies to deploy upskilling programmes alongside ongoing recruitment efforts to close the digital skills gap once and for all. Encouragingly, our research shows the majority (85%) of retail organisations will increase investment in tech L&D over the next twelve months. Likewise, employees should prioritise learning and development (L&D) to safeguard their role and make themselves an invaluable asset to their organisation.
Ultimately, both employers and employees need to work together to create a highly-skilled digital workforce, which will be vital for the UK to remain at forefront of the global retail industry.