In a post-Covid world, retailers will need to transform their stores to operate safely for both customers and frontline staff. Curation will be a key winning strategy, and the most effective merchandise assortments will be the fruit of great partnerships and sharing of data. In the current climate, it’s more important than ever for store assortments to bring value and convenience to the customer, as well as safety. Learn from those whose bricks are geared up to survive and thrive in the new consumer landscape.
The pace of change within digital has accelerated because of COVID-19, making retailers put the pedal to the metal when it comes to their digital strategy. More and more businesses are partnering to leverage expertise and gain competitive advantage. To win a piece of the pie, you must know what to build in-house, what to buy, and where - and how - to partner. Knowing how to manage these partnerships, especially with data transparency, will be crucial.
COVID-19 has raised the stakes when it comes to the customer experience - especially when it comes to safety. The retailers that will succeed will be those who are able to deeply understand their customer, exceed their expectations, adapt quickly to change, and become truly customer-centric by placing their customer at the heart of everything they do. Being able to democratise and weaponise your data, and using AI and machine learning where
needed, is a necessary foundation for this and, done properly, will be a game-changer.