The high street has been greatly impacted by the coronavirus
and several stores have had to close their doors. That is not the case for Next. According to experts, it has
emerged from the pandemic as a winner.
In fact, it has been placed in the same category as Ocado.
Others advance that it is on the way to becoming a mini version of Amazon. The retailer is already the
biggest name in the world of online fashion in the UK. On what are these claims
based? Will the firm be able to live up to the hype? Over the past 12 months,
its shares have increased by 80%. However, this optimism about its future is
largely based on the way it responded to the crisis brought about by the
pandemic. Realising that the shift towards online shopping is
inevitable, the firm adapted very quickly.
The retailer Next introduced new measures to cope
with the situation and its efforts were very effective. It leveraged its
database to implement useful strategies. So much so that full-price sales in
the 13 weeks to the start of May were only down 1.5% in comparison to 2019. Additionally,
the forecast for full-year profits has been increased.
Next has been experiencing success © Royalty-free image
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