20 Apr White Paper: post-lockdown strategy(ies) for retailers & brands
Post Covid-19: what retail strategies to adopt?
We are all living unique moments, both personally and professionally.
The Great Depression of 1929 or the subprime crisis in 2007-2008 are mentioned as examples by some, but they are very different from what we are experiencing now, as we are facing a total and complete shutdown of vast sections of the economy, for an unprecedented (and still undetermined) period. The only phenomenon exceeding what we are experiencing is a world war. Hopefully, there is no physical destruction over here.
In January 2020, Satya Nadella, CEO of Microsoft, reminded during the NRF Retail’s Big Show Keynote in New York that 31% of the world’s GDP involves Retail. Even if some retail sectors continue to operate (and food retailers are even benefiting from the momentum since Out-of-Home Consumption is impossible), an historic impact will occur. Food purchases represented approximately 13% of the retail expenses in the USA, and nearly a quarter of the expenses when cumulated with “Food and beverage places”. Since the transfer is not 1:1 between the two, we can assume that it is therefore 25% of global GDP, at a minimum, that will suffer in proportions never seen before from a 125-nanometer virus.
« At least 25% of global GDP is impacted by the Covid-19 crisis, on the assumption that all countries are or will be affected by the pandemic »
It is difficult and not recommended to speculate on the actual period and we must always be prepared for the worst! Murphy’s Law is now more relevant than ever: “Anything that can go wrong will go wrong”.
However, and this may be one of the lessons of previous crises, there are always winners and losers after these crises. Above all, there is no magic formula suitable for everyone: you need to ask yourself the right questions now to have the right objectives, leading to the right strategy.
B.D.C. has produced a white paper containing some guidelines, based on your needs and priorities, to prepare your company for the post-pandemic period and to start as quickly as possible in the right direction.
Contact us today to receive our white paper!
Karl & the consulting team
Karl HOQUANTE
Directeur Général
karl@bdc-retail.com
+33 (0)6 61 30 63 52