Brands have an incredible opportunity to reinvent themselves, says Alibaba’s UK, Nordics and Netherlands general manager

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Brands have an incredible opportunity to reinvent themselves and to dramatically accelerate their digital transformation, according to David Lloyd, general Manager, UK, Nordics and Netherlands at Alibaba Group. Commenting on the latest BRC-KMPG Retail Sales Monitor, which reported a record decline in retail sales, Lloyd said: “It’s no surprise that today’s British Retail Consortium figures show that retail sales have seen a record decline in April. Even as restrictions start to ease, it’s clear that there will be no quick return to normality for any sector.

“The crisis has forced many retailers into much quicker adoption of new technology in order to connect with consumers. Although driven by uncomfortable necessity, brands now have an incredible opportunity to reinvent themselves and to dramatically accelerate their digital transformation. The drastic period of change we are living through will permanently alter consumer shopping habits and expectations: the brands who adapt most quickly to the current disruption, and who find new creative ways to engage with their audiences, will be the ones consumers turn to as we start to exit lockdown.”