Introduction
Over the past few years, the world has seen some extraordinary developments that few could have predicted. 2020 has proven to be the pinnacle so far, with Covid-19 generating permanent change in the corporate, political and societal spheres. In the consumerfacing industries specifically, the pandemic has overhauled entire sectors, forcing business leaders to re-think their operations and accelerating existing trends at a phenomenal speed.
As we approach the autumn and enter the next phases of Covid-19, this report looks back at the last few months, exploring the ten areas where Covid-19 has had the greatest impact. Based on conversations with our sector’s most influential leaders, this report is a collection of insights and analyses which reflect the view of businesses globally, covering FMCG, retail, travel, leisure and hospitality, fashion and luxury and digital.
It is, and will continue to be, an incredibly turbulent time for the consumer sectors. Sadly, businesses will fail, and well-known brands will disappear. Some will last, and some will be reborn. This has always been the case, of course, but the pandemic will act as a major catalyst for business success and failure. Which organisations will be the bastions of the consumer world, and which will be the phoenixes we welcome back from the ashes?
Some of the changes brought about by Covid-19 are immediate and obvious, while others are subtle and slow-burning. By tabling the ten themes now, we hope to revisit them towards the end of 2020 and assess which predictions have come to pass, and which were never fully realised.
Talent will be key. Human capital has been at the heart of the pandemic from the beginning and we have seen some extraordinary developments in mass furloughing, key worker recognition and boards which are now primed for disruption. In this report, we consider what impact Covid-19 has had upon the talent landscape, and what the disruption might mean for companies seeking survival, or opportunistic prosperity, through their hiring plans.
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