The Top 3 Functions that will make Retail Successful in the Post-Pandemic Period

Let's talk about Retail's RE-Tale: What the Industry looks like, and, will function post the pandemic drift.

Thu Feb 11, 2021

The Pandemic has been a testing time for every individual as well as every industry. Retail being one of the major players in the running of the economy, this food-fashion-home dominated industry had also been affected by the Pandemic bug. There was major disruption in the ways Retail was looked at – first and foremost – from the Consumer’s eyes – people started becoming aware, again, about distinguishing need based buying over want based buying – which is why there was a shift in the way Retail had to function as well.

Apart from what to be bought, there was also a major shift into how things have to be bought. And which is why, Retail is now omni-present – which means – every essential as well as non-essential object is available through all or multiple channels in such a way that it reaches the end-consumer through either brick-and-mortar stores, online ordering and web stores.

For reaching to the Consumer, displays aren’t just in one’s pockets or on screens or on wrists anymore, they’re booming all around us. And, seemingly, even Physical displays connect to the internet via IoT (Internet of Things) which is why there is immense amount of data that is collected at dispose to be able to be converted into meaningful analytical conclusions. So in a world where every surface is a display connected to the internet, it follows that retailers will seek to make those surfaces shoppable.

Now if you want to survive in Retail’s RETALE – the Next Wave, here are the TOP 3 Functions you will need to learn and build your expertise on:

  1. Consumer Experience – To stand a-top the seat of competitiveness, the last leg is about giving the best, and the most seamless Consumer Experience which needs to be designed right from the brand’s and the product reach, to the ease of accessibility, availability and usage to the target customer, and post that, having a good recall value to increase brand loyalty – all of these factors need to be designed to give the consumers an effortless experience
  2. Agility & Innovation – Being quick to survive through change, one has to have the edge of creativity and innovation to make way ahead. It acts as a catalyst in innovation management changes can be anticipated at a very early stage and successful products can be brought to market faster and with high quality.
  3. Operational Excellence – This is more of a Mindset that embraces certain principles and tools to create sustainable improvement within an organization, or, to put it more simply, operational excellence is achieved when every member of an organization can see the flow of value to the customer, and the entire chain works towards making customer experience a seamless process.

Imagine technology advancing at a pace where soon, a consumer will be able to try on clothing via a VR device at home and then make a purchase just with their voice (via Amazon Echo / Amazon Alexa / Google Home / Apple HomePod or the likes)… Now if you have to make this possible, you will have to work on the above 3 Functional Expertise to make Retail survive the next wave!

Binal Chitroda

A content development specialist, gaining experience from exploration, and oh, lover of Food!

Launch your GraphyLaunch your Graphy
100K+ creators trust Graphy to teach online
Unlearn 2 Learn Academy 2022 Privacy policy Terms of use Contact us Refund policy