Becoming Nimble in Retail with Digital
What have we gotten ourselves into?
How about the 2020s so far, huh? Usually the transition into a new decade is more gradient, less ultimatum. But, this is the world we live in now (fingers crossed 2021 doesn’t ask us to “hold my beer”).
In the ebook Becoming Nimble in Retail with Digital, a group of thought leaders and a retailer on the front line weigh in on the situation and share how retailers can make it to the other side intact.
Spoiler alert, it boils down to:
- A willingness to adapt using digital tools
- Identifying desperation versus exploration
- Moving more nimbly, acting more human
- Dialing up the customer journey to 11
It’s really not as difficult as it may feel. You can do this...with our ebook.
Desperation versus exploration
As the world finds itself in this desperate moment, many retailers will grasp to broad brush conclusions. Trends occurring during the pandemic may vary by business category and liquidity. You also may be finding out just how compelling your value proposition really is.
Obviously, if you’re in survival mode, you have to do what you have to do.
Some of our clients that have a hybrid model with a 60-40 split between physical stores and e-commerce don’t really have the luxury of control. They are now losing 60 percent of their revenue in addition to paying rent on those storefronts.
- Lane Hart, Customer Success Team Lead at Heap
Unfortunately, these are the businesses that may need to optimize for the short term by freezing advertising spend or holding off on programs because they had to lay off staff.
On the other side of the coin are businesses that face the greatest demand they’ve ever seen. Those that can take this opportunity to invest in relationships and conduct more relevant, targeted testing will come out of this in a stronger position than when the crisis began.
However, no matter where you sit, you can’t make too many assumptions that this is the way things will work forever. Most underlying trends are going to be distorted in the near term. Short-term thinking will hurt you on the backside. Choose investments that won’t be thrown away when this moment is over.
Therein lies the beauty of digital. It comes with the power to throttle up or throttle down parts of your business in real time.
Retail team assemble! We gathered a lineup of retail prodigies and picked their brains to make sense of it all. Watch the webinar (or read the ebook if you're an old soul) to prep. for long-term success at your retail operation.
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