Our global supply chains are experiencing an unprecedented stress test due to being “badly tangled,” in the words of one writer. A rare combination of “once in a lifetime” events — the pandemic, natural disasters, shipping container shortages, materials shortages, increased freight rates, and rising energy prices — are responsible for the empty shelves and shipping delays that are impacting product accessibility.
One of the biggest challenges retailers must navigate is fragmentation. As digitization accelerates, the number of touchpoints in the customer journey has amplified.
This past year has been a remarkable time for thought leadership in retail. As McKinsey writes, the pandemic brought an end to the notion of “business as usual,” due to people shifting their shopping habits into digital environments. In the blink of an eye, we all transitioned into new ways of life.
In the ever-changing world of retail, global brands are rapidly transforming to meet the evolving demands of today’s digital landscape. As an essential industry, the pandemic forced retailers to pivot their strategies, turning to cloud-based solutions such as Google Workspace to enable hybrid work environments while supporting consumers, frontline workers, and a surge in digital demand. For many companies, there’s no going back.
Welcome to the Agile Retail Era: Mission-Critical Ways to Strengthen Your Digital Acceleration Footing
For the most innovative leaders in retail, digital transformation is nothing new. In fact, forward-thinking C-suite execs began preparing for digitization decades ago to account for artificial intelligence (AI), the internet of things (IoT), machine learning (ML), and more.
Retail leaders are navigating an unprecedented digital transformation race, in the words of KPMG, with organizations “investing heavily in technology to address immediate concerns like falling revenue, interrupted supply chains, and long-term resilience.” [...]
Throughout 2020, the theme for the retail sector has been agility. Here at Maven Wave, we’ve been helping the next generation of industry frontrunners find their “North Star” in an unpredictable consumer landscape. [...]