How The Pandemic Is Reinventing The Business Of Retail

December 31 2021 by Greg Petro

Retail-Employee-ExperienceYear three of the COVID-19 pandemic begins with the retail industry battle-weary but having weathered and, in some cases, even capitalized on an epic worst-case management crisis. The good news is that the retail apocalypse of 2020, having cleared the field of weak competitors, spurred surviving brands and companies to rethink and reinvent how they do business.

 

We know what doesn’t work. Now what?

A key concept that will shape the future of the industry is collaboration, both within enterprises as well as between retailers and their sources, their partners, and their customers. This is new, a seminal change from the way the industry has operated for a century.

 

My first introduction to the dysfunctional aspects of retailing was in the early years of my career, when I worked for a supply chain technology company. We focused on logistics, product and demand forecasting, managing just-in-time inventory, and so on.

 

Read the Full Article at Forbes (subscription required)

retail pricing  retail success  retail disruption  supply chain challenges  digital supply chain  Coronavirus  COVID-19  market disruptions

Want more information? Fill out our form below.

What Retail Executives Say About Supply Chain Disruption Leading Into Holiday: Shortages, Pricing and Delays

We partnered with The Wharton Baker Retailing Center to create a comprehensive infographic exploring our findings.

View the Infographic

The State Of Consumer Spending: Gen Z Influencing All Generations To Make Sustainability-First Purchasing Decisions

We partnered with The Wharton Baker Retailing Center and asked consumers in the U.S. how sustainable practices are impacting shopping habits and purchase decisions.

Read the Report
Featured Product

InsightSuite for Small Business

Specialized Tools for Small & Emerging Businesses

The fastest and most cost effective way to increase sales, profits and sell-in for growing businesses and digitally native brands.

Learn more
Free Ebook

Maximize Value, Speed & Profit

Learn how to leverage Voice of the Customer Analytics and 3D Product Creation to make more profitable products, faster.

Get the Free E-book
Roundtable Video

Kohl's Creates Value W/Predictive Analytics

Learn How First Insight's Predictive Tools Fuel Kohl's Success

As one of the world's leading omnichannel retailers with more than 1,100 stores in 49 states, Kohl's is leveraging First Insight's predictive analytics solution and voice-of-the-customer data to improve their business.

Watch the Webinar
Webinar

Consumer Sustainability Survey 2021

The First Industry-Wide Consumer Study On Shoe Sustainability

This industry-wide survey aims to create a critical baseline that brands and retailers can use to ensure they understand what consumers actually comprehend, what terms and phrases resonate best, and what areas they should prioritize.

Download the Webinar & Findings
Supply Chain & Pricing

Navigating Disruption

How The Rockport Company is Optimizing Assortments and Pricing with Data + Digital Product Testing

Learn how The Rockport Company created a new product playbook powered by the Voice of the Customer and predictive tools.

View the Webinar & Highlights