The retail industry was already facing widespread change prior to the COVID-19 pandemic, with shifts underway towards online shopping and fast delivery.
The pace of change accelerated during the pandemic, with government restrictions on in-person retail experiences and a customer preference for safe, contactless delivery and return options.
Although digitised shopping is by no means a new phenomenon, the surge in demand during the pandemic has created unforeseen challenges for retailers and wholesalers with retail operations. Business operations are being stretched to their breaking point, as retailers and wholesalers try to adapt to and manage an increasingly complex set of risks, from cybersecurity to supply chain disruptions.
Marsh’s experienced Retail & Wholesale Practice specialists can help your company anticipate emerging risk management needs and implement strategies to ensure stability and profitability in an era of uncertainty.
Featured insights
12/12/2024
Retail supply chain risk: Why uncovering the truth about your tiers matters
Retail businesses have always contended with shifts in global trade patterns, and with supply chain shocks such as war or natural disaster. But the frequency, severity, and diversity of such challenges have all increased this century, straining even the most resilient supply chains.
13/09/2024
Managing and mitigating violence against retail workers
Retail violence in the UK has become a significant issue, posing risks to both the physical and mental wellbeing of employees in the sector.
31/07/2024
Webinar replay: How to reduce your insurance operating costs in retail and leisure
In this webinar the Retail, Food and Beverage, and Leisure Practice explored the critical topic of managing your operational risks and reducing costs.