TECH BUYER Jun 2020 - Web Conference Proceeding: Tech Buyer - Doc # US46456020
How Retailing Will Shift in the Post-COVID-19 Era
By: Dorothy CreamerSenior Research Analyst, Hospitality and Travel Digital Transformation Strategies, Jon DukeResearch Vice President, Retail Insights, Robert EastmanResearch Manager, Leslie HandVice President, IDC Retail Insights, Jordan K. SpeerResearch Manager, Global Supply Chain
This IDC Web Conference provides insights into how retailers should respond to the challenges they face post-COVID-19. COVID-19 has sent shockwaves across the retail business and the entire ecosystem that supports it, although the pain is not equally divided nor of the same type. Nonessential businesses are dealing with precipitous drop-offs in sales and employee layoffs while essential businesses are trying to ramp up quickly to manage significant sales increases, spikes in ecommerce fulfillment, and uncertain supply. This document, focused on retailing post-COVID-19, discusses how retailers in each group should respond to both the short- and long-term challenges they face by exploring new business models and the technology that supports them. The focus is on the changes to the retail macro environment that will ensue, including the modernization of retail and hospitality businesses, a more collaborative and transparent culture, the acceleration of retail digital transformation, the rise of contactless businesses and services, and acceleration of a global multisource supply chain strategy.