The rising cost of living – today’s challenge facing the high street

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The high cost of energy and inflation is forcing shoppers to scrutinise their daily spending habits. Many are cutting out non-essential items, like clothing and subscription services, choosing instead to shop around online for deals more than before. Progressive retailers can make their online offering more appealing in two ways. One, by taking steps to reduce their supply chain costs and optimise delivery. And two, by replicating the in-store experience online.

Additionally, the pandemic served as a catalyst for partnerships between retailers and fast delivery services. Now, the cost of living crisis highlights how a continued collaboration underpinned by smart technology is vital for consumer demands.