Transformation Tips to Expand Revenue, Enhance Operations, and Maintain Compliance
In the past couple years, retailers had to adapt to the wave of consumers shopping online and not showing up to their storefronts. The supply chain experienced unprecedented upheaval in product availability and pricing, and purchasing patterns reshuffled product category priorities. Brands had to quickly shift their operations to serve customers and protect revenue in a time of deep uncertainty.
With regions cautiously reopening, the evolution toward the pandemic’s recovery phase is underway, and it’s time for retailers to assess their position and put approaches in place to succeed in the next age of retail. Changes in consumer behaviors, evolving financial pressures, new product preferences, redesigned shopping and delivery options — it’s all on the table, and with a strong plan, brands can adapt, grow and flourish.
Read on to learn some of the core ways retailers can pivot to meet the new pandemic realities. The right reinvention approach will encompass many different factors, but this core set of elements provides a useful roadmap to success in the new retail era.