The Resilience of Retail – Matthew Brown at REI Retail Retreat 2023

Andrew and Matthew Brown, a Retail Trend Futurist,  talked shop at REI Retail Retreat 2023. Despite economic challenges and the prevailing pessimism so readily adopted within the industry, Matthew shed light on the strength of the sector, and Ireland’s unique approach to innovation, showcasing the resilience of retail.

A Balanced Outlook: Cautiously Optimistic

While acknowledging ongoing concerns such as the cost of living and inflation, Matthew emphasised that the importance of physical retail remains steadfast. Contrary to the gloom that was expected globally, retail has displayed impressive resilience, prompting a more cautious but optimistic outlook among industry experts.

The Irish Difference: Creativity Knows No Bounds

Matthew discussed the more distinctive qualities of Ireland as a retail market. Being a small island, many Irish retailers have held reservations about their abilities. However, they have realised they do possess great capacity for innovation and creativity. Smaller, family-run businesses have a personal touch, resulting in highly engaged staff and memorable customer experiences. Matthew emphasises this as a testament to the fact that creativity thrives irrespective of financial resources.

Despite the expectation of continued pessimism, the importance of physical retail remains, and the sector has proven to be more resilient than anticipated. Irish retailers have emerged as an inspiring example, demonstrating that being small in size does not limit their potential. By nurturing a culture of creativity and personalisation, retailers can forge a path of success and deliver exceptional experiences to customers.

We talk more about leveraging local here and here! 

Meanwhile, find the full interview with Matthew below.