The coronavirus is adversely affecting businesses and economics across the globe. The retail sector needs to take unprecedented steps in light of current consumer behavior and purchasing habits.
2. Contents
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The supply chain info disclosure
Lessons learned from the
global pandemic shouldn’t be forgotten
Preparedness for emergency situation
Trust and transparency are the
keys to success
Caring about their health
can increase your wealth
New USPs and safety measures
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4. 1. The supply chain
info disclosure
Trust and transparency are the
keys to success
5. The supply chain
info disclosure
Coronavirus has forced consumers to
buy local. As the #newnormal begins,
perhaps they will restore their
purchasing habits, but with concerns.
Moreover, India, Philippines, and
Vietnam have called for the boycott of
Chinese products.
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6. Supply chain information disclosure
strategy needs to be built to ensure
trust and transparency. Nike Inc.
does this already.
Key
takeaway
8. Preparedness for
emergency situation
Physical stores and supermarkets have
run out of supplies amid the global
pandemic. This is likely to happen in a
state of panic among the people.
What can be avoided is the hassle
customers face when they mob the
store only to find that the product is
out of stock.
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9. Supermarkets, as compared to small
retailers, can easily go online, where
products are displayed along with
their availability status and estimated
delivery time. This will prove to be an
ease for consumers.
Key
takeaway
10. 3. New USPs and
safety measures
Caring about their health can
increase your wealth
11. New USPs and
safety measures
People are more concerned about
their health and safety than ever
before, and it is truly understandable.
After all, why shouldn’t they be?
Contactless deliveries of goods have
emerged recently. Even gig economy
workers (specifically riders) are making
sure to sanitize hands.
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12. Unique Selling Points (USPs) need to
go beyond the product/service
offering. They should be about the
safety measures taken during
different phases of value addition to
consumers. Contactless deliveries
are a good example.
Key
takeaway