SPEAKER SERIES SPEAKER SERIES: MARGUERITE BELL
HOW CAN THE RETAIL INDUSTRY PREPARE FOR A RECOVERY FROM THE SHORT AND LONG-TERM IMPACTS OF COVID-19?
Now is the time for retailers and wholesalers to remain connected to their customers. This is a far greater need than ever before. Businesses need to optimise all channels – including channels that may be new to them. The future is unknown, so it is important for businesses to maximise an offline and online presence and prepare for the challenges that they face currently and the rollercoaster rides that the future may hold. The number one priority will be to commit to being customer centric. Be determined when it comes to understanding, solving, and delivering what you need to keep your customers loyal.
Start now. Ask yourself ‘How can we create new ways in which to...’ Make it easy for our customers to continue to shop with us Stay connected with our loyal customers Attract new customers Solve our customers problems Deliver what our customers want and need Adapt to our customer’s changing needs and wants?
MARGUERITE BELL Retail Life The road to recovery will be challenging for the retail industry. There will be no quick fixes but rather the need to develop a strategy for short and long term survival. It will be important for all industry members to take action in the short term but at the same time strategise for the longer term.
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The effects of COVID-19 see many businesses facing challenges when it comes to inventory, supply chains, cash flow, rents and many more. Be bold and face these challenges head on. They will not go away so take control and determine strategies to assess, plan and act. It will change your mental approach from panic mode to action mode and allow you to control your actions. Be open and find ways to collaborate and innovate and find avenues to reach out and engage with other businesses navigating this challenging landscape. As an industry, we need to unite to recover and thrive post COVID-19.
