The 3 Waves: Rebuilding Retail After the Pandemic
December 8, 2020
Retailers are no strangers to transformation. They are constantly reacting to consumers' shifting desires and expectations. Yet, nothing has forced such a sudden and dramatic overhaul as Covid-19.
Retailers don’t have the luxury of focusing solely on the short-term impact of COVID-19. Unfortunately, the impact of this pandemic won’t be cyclical, and we won’t simply return to business-as-usual once there are treatments and a vaccine. Rather, the impact of COVID-19 will be structural, and the familiar retail experience that we’ve come to know will evolve.
Many of the changes the retail industry is implementing to counter the effects of the pandemic will become permanent, resulting in a new normal.
We’ve started to refer to these types of pandemic-related industry changes as “The 3 Waves,” spanning from the immediate changes that ensured stability in the earliest days to more long-term, strategic changes that will become institutionalized.
Read More to find out about the 'The 3 Waves'.