“Agility” was the buzzword of 2020 as retailers feverishly worked to adapt their business models, experiences and services amid uncertainty. The ever-changing customer behaviors we saw during the pandemic, coupled with a rapid evolution of industry dynamics, will continue to make agility key to competing and thriving in retail’s new era.
Executive teams know they need to develop a plan, but few have the technical infrastructure and processes in place to make the required changes to pivot quickly and efficiently.
In this guide, we’ll outline the strategic considerations retailers should use to develop an agile strategy and unpack the trends that can — and should — inform their decisions.
Plus, you’ll discover five key strategies that are crucial to success, including:
- Aligning fulfillment strategies to consumers’ demands;
- Leveraging third-party marketplaces;
- Adapting the service experience;
- Pivoting the product focus; and
- Offering new, flexible payment options.