Retail Strategic Considerations Post-Pandemic
As retailers reopen post-COVID-19, they must adopt a holistic strategy—redefining brand purpose, enhancing store safety, leveraging digital momentum, optimizing store networks, strengthening supply chains, and pursuing agile, data-driven operations to thrive in the new retail landscape.
As many non-essential retailers are now putting into place plans to re-open stores after weeks of being shut down, I have been thinking about how I might approach this new way of operating – not only from the perspective of stores but more holistically across a broad swathe of functions and activities.
So, in my fourth article around the impact of the coronavirus on retail, I wanted to share a broad set of questions and thoughts I would have for almost any brand or retailer getting set to re-open. As I tend to do with my articles, a few caveats: these are far from being a perfect set of considerations, or even complete for that matter as much will depend on the circumstances each brand/retailer faces. Are these considerations exhaustive? Probably not. Mutually exclusive? Unfortunately, no, as you will see from reading them, and I do not even get into the interplay between these considerations much, as these interdependencies are largely retailer/brand specific. So, please keep these things in mind. Having said all that, do these represent a reasonable thought-starter? Most definitely.
Also – I have purposefully not touched on inventory/merch-related considerations….an entirely different and complicated topic that merits its…
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