2020 has proven to be a cataclysmic year for global activity—and no less for retail. The global pandemic and related response have 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