As the UK moves forward from a high inflation cycle, there are emerging opportunities for growth in consumer and retail. However, consumers remain cautious about spending, so retailers must deliver real value and an exceptional customer experience to stand out and inspire spending. Retailers need to create seamless omnichannel operations and build a deep understanding of the customer journey, particularly in social commerce, as consumers increasingly use social media to find and buy what they want. Leveraging data and AI is key to unlocking much of this potential. AI is also set to play a bigger role in retail surveillance to help reduce in-store and online theft.

"With evolution of digital and AI and a new era of seamless commerce, consumers’ frames of reference are constantly shifting and increasing their expectations of what good experience looks like. This year's winners are those leveraging their data effectively to understand and meet those expectations throughout the customer journey."

Linda Ellet, Partner, Head of Consumer, Retail & Leisure