The pandemic has accelerated retailers’ long-term digital transformation road maps, making them scramble to embrace the new ‘must-haves’.
Retailers are bolstering their strategies to manage uncertainty and differentiate themselves from competitors. The winners in this evolving landscape will be those businesses who can participate in digital ecosystems, reimagine last-mile capabilities, preempt and respond to supply chain disruptions, and build experiential retail stores to provide shoppers with a memorable experience.
In this article, the author likens the pandemic-induced disruptions to guests arriving before time at a house party and cites eight new ‘must-haves’ for retailers to see a positive impact on sales, margins, costs, and cashflow.
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