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.
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