Multichannel Merchant
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Amazon is in advanced talks to acquire self-driving car startup Zoox as it looks to expand its autonomous vehicle capabilities to address massive delivery costs, according to the Wall Street Journal. It has already invested heavily in autonomous technology, contributing to funding rounds for Aurora Innovation and Rivian Automotive LLC.
Although Facebook Shops is being marketed to potentially distressed small businesses, large Consumer Packaged Goods (CPG) companies should be paying attention as they think through their own strategies, especially given the shift in consumer shopping behavior caused by COVID-19.
Retailers that have invested in inventory management tools that supply real-time visibility across channels are faring much better than those that didn’t as tactics like ship from store and curbside or counter pickup are proving to be survival factors, industry experts agreed.
Those who have embraced omnichannel retailing by allowing customers to do everything from browsing to payment on their personal device have found it much easier to adapt with tactics like BOPIS to ensure the safety and health of employees and shoppers. The current crisis will serve as a catalyst for long-term process changes.

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Q: We run a cycling and running shop. How do we keep our best foot forward?

A: Be completely transparent: People understand that things have changed. When sharing information about changes in your company, don’t make promises that can’t be kept or sugarcoat the situation. The initial conversations may be challenging but the transparency will be appreciated.

Clean house: There are always lower priority projects sitting on the back burner. This is a good opportunity to get them done. It provides productive work for your employees and helps position your company for a comeback. Before assigning them, make sure they fit with your new business plan.

- Debra Ellis, principal, Wilson Ellis Consulting
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