Strategies to develop new direct to retail opportunities for brand manufacturers
2020 proved to be a cataclysmic year for global activity—and no less for retail. The global pandemic and related response shuttered physical stores and driven customers to accelerate their shopping behaviors through digital and mobile channels. As traditional retail faces ongoing disruption, customers are learning to rely less on physical storefronts, presenting brands with an opportunity to review their retail mindsets—moving from a “business- as-usual” approach to a “reimagine the business” moment.
While the safety and sanitation undertones of COVID-19 might fade away, behavioral shifts toward convenience-first retail, hybrid (on/offline off/online) purchase paths, and alternative financing will not. By embracing a more responsive retail strategy that adapts to shifting trends and circumstances, brands that are able to reorient their retail channels and operations for a post-COVID world will be better positioned to take advantage of the direct- to-consumer era.
About This Report
COVID-19 will be an important inflection point for retail and business moving forward. The research synthesizes emerging themes in direct communication and sales, intelligent retail operations and value-add services. This report by the research team at PSFK is designed to help brands navigate a retail landscape of disrupted channels and emerge with a stronger relationship with their customers.
Published June 2020
Retailers are applying machine learning and data aggregation tools to anticipate consumer behaviors and needs based on situational or emotional contexts and provide service or product recommendations. This includes using data generated by mobile apps to create a unified view of a member's shopping behavior and preferences, as well as leveraging RFID and other technologies to detect items that shoppers are interacting with in order to target shoppers in the moment and drive incremental retail...Educational Content
Consumers want to know that they’re buying the best and can get the most out of their product when they bring it home. To meet these expectations, brands are investing more in positioning themselves as category experts. Whether through one-to-one consults, group classes or post-purchase support, these service initiatives are designed to boost customer confidence in their product experience.Virtual Consults
Brands and retailers are using virtual platforms to streamline conversation between consumers and experts, providing analyses and solutions tailored to each customer for optimal product results. This includes leveraging AI-supported conversational assistants that use natural language processing to help shoppers effortlessly navigate questions.