Strategic challenges in retail sales

Abstract

The outbreak of a full-scale war has shaken up the domestic economy, including the retail sector, which performs important tasks for the state. This was a significant blow to the country, as the retail sector is one of the largest emp­loyers in many countries around the world. It also contributes to the overall growth of production and economic develop­ment in general, generates significant tax revenues, etc. However, despite the continuation of martial law, the retail sector is working to normalize processes and adapt to future challenges. For these reasons, the hypothesis is formulated that current trends should meet the challenges of retail, compensate for losses through new approaches and solutions. To achieve this hypo­thesis, general scientific and special research methods such as analysis and synthesis, system-structural analysis and generalization were used.  The key strategic challenges for modern retailers, such as climate change, staff shortages, pressure on supply chains, and martial law in Ukraine, are investigated. It is found that the main trends in the market are aimed at digitalizing the work of companies, their optimization, to create a comfortable environ­ment that can meet the needs of the modern consumer. Modern retailers should work not only on the quality of products and services, but also on the brand and policy, which should intersect with the current values of consumers. Such trends can reduce the impact of negative phenomena on the work of trade enterprises, as they are able to reduce losses and the need to attract new employees. It was found that the nearest forecasts are related to the introduction of artificial intelligence and other digital technologies in retail operations, the expansion of the influence of companies in the virtual environment, and the personalization of products for certain categories of the population. The conducted research makes it possible to characterize the retail of the future, to determine what features a modern business should possess in order to remain competitive on the market.