You don’t need to have a constant stream of Reuters on in the background to know that retail is back on the rise. With everything locked down for so long, is there a chance there will be a post-lockdown shopping spree?
And as part of their latest report, the economic experts at Scottish Friendly say yes. They are predicting a staggering £50 billion shopping spree post-lockdown.
With households planning to spend an estimated 26% of the money they saved during the pandemic, brands and retailers across the globe are gearing themselves for what Green Room’s Head of Marketing and New Business Oliver Roddy describes as “a landslide of opportunity”.
Green Room – who work in experiential design, with global brands including Burberry, PUMA and Mercedes-Benz – are at the forefront of the retail industry, and Roddy speaks every day with brands across the globe.
“The apprehension we’ve seen over the last year or so from clients is disappearing by the second. While there’s still a question mark over what the future looks like, brands now are seeing the lack of clarity as an opportunity.
The conversations now have changed to ‘Ok, let’s go for it’ rather than ‘Let’s just wait and see what happens’, which is incredibly positive.”
Asked why the change has come now, Roddy suggested there had been a combination of reasons and factors involved.
“Of course we can talk about the vaccine rollout and markets surging as a reason to feel positive.
“I think it’s also important to remember that brands aren’t just these companies with a logo and product being created in the background: they’re teams of people, and they feel the same way about life as everyday consumers do.
“The fact that the whole world feels a pent-up desire to get out there and experience life again is a big part of the positivity driving brand teams forward now too.”