Smart Retailers Are Looking at Holiday 2020 Through a Viral Lens

April 17 2020 by Jim Shea

    TR imageCredit: Shutterstock

    The novel coronavirus and the precautions governments and individuals are taking to protect themselves from infection have already had a powerful impact on the global economy. Those impacts are likely to extend well into this year, possibly even into the fourth-quarter holiday shopping period. Between disruptions to manufacturing and supply chains and shifts in consumer behavior and purchase decisions, the retail industry will continue to be hit on both the supply and demand sides. Retailers and brands won't have the luxury of waiting to see how long the current outbreak lasts; they need to plan ahead and place their product bets quickly and accurately for the rest of the year, including the holidays. Forward-thinking retailers are already preparing for a multitude of scenarios by using predictive analytics to understand what their customers really want. They're strategizing on the best practices to accurately make product selection decisions while figuring out how to get those products in a timely manner.

    Interdependent Web of Connections...

    Read the Full Article at My Total Retail

    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