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As lockdown measures are increasingly imposed across the world and consumer purchasing behavior is rapidly evolving due to the COVID-19 crisis, retailers are scrambling to adapt to the new norms. Due to these sudden market changes, retail companies across the globe are left with little time to respond effectively. Over the past few weeks, Infiniti Research has been talking with all their retail industry clients about the potential impact and long-term implications that the coronavirus pandemic may have on their businesses. We have also predominantly been helping retailers think through the business crisis and remediate the shorter-term shocks. Based on the discussions and strategic plans undertaken for clients, experts at Infiniti Research have listed out key priorities for retailers to successfully navigate through the aftermath of the pandemic.
- Managing demand fluctuations is one of the key concerns for retailers around the globe. While some retailers are experiencing demand falls and customers shifting channels during the crisis, several others are facing an unprecedented surge in demand. This is especially true for grocery and CPG retail. The ability to accurately predict and plan for the fluctuations in demand is vital.
- Assessing current and predicted liquidity profile will be crucial for retailers across the globe, especially in case the demand downturns continue to persist for a prolonged period. Assessing possible changes in their working capital dynamics or short-term cash forecasts can help retailers better plan on how to pay their bills, make rental negotiations, or even leverage hardship funds.
- Managing long-term supply challenges, especially for grocery retailers as consumers begin to panic-buy, is another major concern for retail companies. In the long term, this change in consumer behavior could result in severe stock-outs. Most non-food retailers are yet to feel the full impact of supply disruptions. But with time, we expect to see significant changes in the magnitude and timing of supply chain disruptions across geographies and subsectors. Retailers should consider discussions with key suppliers to assess their risks, identify any indirect exposures, and create business contingency plans for the short, medium, and long-term.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
