Analysis: As we reach ‘peak stuff’, how should retail adapt?
Between Brexit and coronavirus, 2020 is so far shaping up to be a difficult year for the retail sector. But behind the stockpiling and panic buying, there is a growing trend that could challenge the very way retailers operate.
This January, in and among the end-of-season Sales, there was a call for a ‘no-buy January’ as shoppers refrained from making any new clothing or beauty purchases for the duration of the month.
It was a movement with a small but dedicated following, with hundreds of blogs and vlogs advising shoppers looking to cut down on new purchases on how to get the most out of their existing items. Some even committed to ‘no-buy’ years, while others opted for ‘low-buy’ in a bid to curb their rate of purchases.
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