Clear communication and creativity have been key to helping retailers thrive during the pandemic. Now, many changes born of crisis are proving to have real, ongoing value.
Tracking delays and communicating quickly
Supply chains buckled during the pandemic. Even now, many products are badly delayed.
So, what’s the next best thing to timeliness? Accurate information. Many retailers have adopted technologies to improve tracking, giving them a better idea of where shipments are and giving customers better visibility. It’s helped curb frustrations and even grown good will during challenging times.
Becoming more local
When the global supply chain was stable, local solutions got overlooked in favor of large suppliers and partnerships. But pivoting to a local focus has proven to be a pandemic lifesaver. Securing goods locally minimizes delays and disappointments, while partnering with other local retailers allows for bulk purchasing, a stronger negotiating position and shared costs.
Diversification, flexibility and remote solutions
Renting out parking lots for events. Pivoting kitchens from dine-in service to meal-kit delivery. Setting up online shopping and ship-from-store features for local boutiques. Every sector of retail found unique ways to flex for the times. While not every change has been practical to continue, the lessons learned and capacities gained generated buzz and opened the doors to new revenue streams in the future.
No matter what happens going forward, retailers that embraced change are in a better position to thrive.