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Navigating the New Normal in Retail - Strategies to Ensure Survival and Success
In 2020, global online retail is set to grow 20-30% -- strongly beating the previous average of 10-15%. Social media usage has soared by 61%. One in 3 consumers have punished brands not responding well during the pandemic crisis. Statistical forecasting models could not project and manage outliers like this pandemic. COVID-19 has had astounding impacts on retail leaving irreversible changes. Based on deep research, this white paper explores:
What is changing in Retail?
How the shift in consumer behavior is leading the way into transformation?
What are the new Retail challenges?
How did some Retailers ride this crisis wave successfully?
What does future of Retail look like?