LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems brings to you comprehensive insights on three focus areas that can help consumer retail businesses bounce back to normalcy and regain lost market share post COVID-19.
What’s in it for you?
- Gain insights into factors that are crucial to reopen businesses and prepare for the new reality
- Learn how digitization will drive recovery and help regain market position
The biggest challenge for retailers is to understand consumer and market needs in the post COVID-19 era. We’ve got the right solutions to help you address such issues in the least possible time frame. Talk to our analytics experts to learn more.
With a partial success in flattening the curve, governments across geographies are beginning to lift restrictions and travel bans with the focus on re-opening their economies. Amid this, consumer retailers are now looking ahead to the new reality. Embracing change is crucial at this stage since consumer retailers can no more rely on traditional methodologies and carry out key processes like in the pre-COVID era. The paradigm shift within consumer retail will further be impacted by the changes in consumer behavior caused due to the recent lockdowns and travel bans. However, with businesses getting back to normalcy, it is quite clear that traditional retail planning approaches can no longer support decision-making in these uncertain times. Our interaction with retail and consumer goods clients from across geographies has helped us gain detailed information on the challenges that can curtail business growth in the post-COVID era. Hence, we have highlighted key focus areas that, in our opinion, will play a pivotal role in the recovery in the consumer retail sector.
Digital transformation is not just the ‘need of the hour’ but crucial to drive profitable growth and success in the long-run. Request a FREE proposal to learn how we can help you thrive in the post-COVID era.
According to Quantzig’s retail and CPG analytics experts, “The crisis has permanently changed the way customers interact with brands making it essential for businesses to focus on an end-to-end transformation.”
Preparing for the New Reality in Consumer Retail: Key areas to drive change
1: Rethink cost structures
Margins in the consumer retail sector have witnessed a drastic decline due to the COVID-19 outbreak. Regaining lost share in such a scenario would not be a simple task but will require retailers to rethink cost structures to drive profitability in the new normal.
2: Understand customer expectations
Consumer retailers must gear up and prepare for yet another shift in consumer behavior as we slowly transition into the post COVID-19 period. Based on our predictions investments in new technologies aimed at providing a safe and easy shopping experience is the need of the hour.
3: Analyze supply chain risks
With new technologies paving their way into the consumer retail ecosystem retailers can now leverage new methodologies to improve order fulfillment and delivery rates. But it’s also crucial to analyze the supply chain risks associated with a paradigm shift.
As consumer retailers work towards achieving their goals, it’s essential to focus on key areas that will be greatly impacted by the transition from the reactive phase to the recovery phase. This can help them ensure a smooth transition and adapt to the new normal.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal