The COVID-19 crisis has had big short-term impacts on retailers\u2019 operations \u2014 from spurring store closures to slower shipping speeds \u2014 but also, in some cases,\u00a0hiring,\u00a0bonuses, and\u00a0pay raises.<\/p>\n
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Article by<\/strong><\/a> Laura Kennedy — Lead Analyst at CB Insights<\/em><\/p>\n But what will this monumental disruption mean for retail and consumer businesses in the long term?<\/p>\n The uncertainty that the crisis is creating for consumers \u2014 in their health, their financial positions, and more \u2014 is already reframing how they view value. This event could fully transform their perceptions of what constitutes quality, convenience, and an engaging shopping experience.<\/p>\n Retailers, meanwhile, continue to face pressure around sales, shopper connections, and profits nearly across the board. Supermarkets and other essentials-geared retailers in particular have a new view into supply chain reliability, agility, and efficiency. Other retailers are\u00a0re-examining supply chain visibility internationally<\/a>.<\/p>\n Looking ahead, we see a refocusing on the business models and innovations that will drive execution, conversion, and efficiency.<\/p>\n For instance,\u00a0average daily downloads for the top online grocery apps are way up<\/a>\u00a0as new users try out delivery and other low-contact services. Beauty brands\u2019 interest in\u00a0virtual try-on tools like augmented reality has intensified<\/a>\u00a0as well. Retailers, meanwhile, have had the chance to take a closer look at any technology that will further automate their stores.<\/p>\n What other innovations could become more relevant?<\/strong><\/p>\n We\u2019re tracking three big shifts \u2014 and we have research to help you navigate them:<\/p>\n With temporary store closures and social distancing measures, e-commerce is now a bigger part of many shoppers\u2019 retail habits.<\/p>\n In the absence of in-person experiences, consumers are focused on the essentials. These will range from pantry items to products that have become more necessary for home life, like\u00a0tech for kids<\/a>.<\/p>\n Communication will have to be even more precise to reach consumers who are further away.<\/p>\n We\u2019ll keep tracking progress across these trends. Reply and let us know how the trends you care about have changed and where we can help.<\/p>\n Hope you, your family, and friends are staying well. Happy shopping (even if it\u2019s out of your pantry),<\/p>\n Laura Kennedy.<\/p>\n","protected":false},"excerpt":{"rendered":" The COVID-19 crisis has had big short-term impacts on retailers\u2019 […]<\/p>\n","protected":false},"author":8,"featured_media":25601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,1337],"tags":[1950,99,1385,2018,3462,1489,3461,1579],"class_list":["post-25600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-innovation-business","category-primezone","tag-cb-insights","tag-ceo","tag-ceo-northam","tag-consumer-trends","tag-laura-kennedy","tag-retailers","tag-retailers-operations","tag-shopping"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/25600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=25600"}],"version-history":[{"count":1,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/25600\/revisions"}],"predecessor-version":[{"id":25602,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/25600\/revisions\/25602"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/25601"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=25600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=25600"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=25600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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