While it’s easy for disruption to feel like an overused buzzword, this is the time that retail marketers need to embrace it. As we near the one-year anniversary of the first COVID-19 lockdowns, here are 3 tips to help brand marketers innovate in the months ahead, based on lessons learned from the past year.
As 2020 comes to a close, it’s time to reflect back on a wild and crazy year in retail, to paraphrase the Festrunk brothers from Saturday Night Live. COVID-19 came in like a wrecking ball in February and March, causing widespread shutdowns that hit retail especially hard, leading to hockey-stick growth in ecommerce.
As consumers have begun holiday shopping earlier than ever, merchants are expecting historical peak trends, and fraudsters will try to take advantage of this. To prepare for the uptick in BOPIS fraud this holiday season, consider enacting both short-term and long-term fraud mitigation strategies to protect yourself and your customers.
Dutch supermarket company Ahold Delhaize, owner of Giant and Stop & Shop, has acquired a majority stake in Bronx, NY-based delivery provider FreshDirect, giving it a leg up on ecommerce fulfillment as e-grocery is exploding amid the pandemic. Centerbridge Partners is also acquiring a 20% stake in FreshDirect.
The ability to delivery a high-quality omnichannel experience has never been more critical than during the post-pandemic era, but most brands aren’t prepared to meet consumer expectations, according to a report from NewStore. Not surprisingly, providing safety and convenience were atop the list of winning practices cited.
From suppliers to logistics providers to manufacturers and retailers, the extended supply chain is pursuing omnichannel connectivity in an effort to deliver innovative customer experiences, streamline operations, reduce costs and improve flexibility and resiliency. But packaged commercial OTS software and data silos won’t cut it.
Shopping malls are well-positioned to become a centralized operating system for smaller retailers to leverage the operational and financial benefits of things like BOPIS and curbside. Creating a flexible range of services, spaces, leases and more will help malls regain community relevance and become profitable. Here’s how it can happen.
Issues with sizing and color conventions have probably been an issue since the invention of clothes. And with so much shopping now driven online by the pandemic, combined with generally liberal return policies, apparel returns have exploded. New technology solutions and industry standards are both working to solve the problem.
In many respects, COVID just accelerated what was already impressive growth of in-housing marketing teams. Moving forward, these teams’ proximity to the business and growing strategic importance mean they are in a good position to deliver greater value to their organizations. Here are 3 critical ways this can happen.