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Bricks and clicks: the importance of shapeshifting in the changing retail sector
Businesses were forced to reinvent themselves due to the pandemic – and in doing so, they demonstrated that they can continue to pivot to suit changing customer needs going forward
Some people refer to it as the “new flex”. Others liken it to “shapeshifting”. Whatever you call it, the retail industry has had to take the standard notions of business agility to a whole new level – with many having to reinvent themselves virtually overnight as a result of the lockdowns. At the start of a new year, how can businesses capitalise on what they’ve learned?
In an era where change often feels like it’s the only constant, retailers have come to realise that they require more resilient systems that enable their organisations to shapeshift without unravelling – whether it’s accelerating their digital transformation, adopting rapidly scalable logistics, flicking between local and global sales, or offering goods and services across different platforms in-person or digitally. For instance, having access to a mixture of small and large suppliers means businesses can be more responsive to changes in supply and demand. Likewise, having a robust and flexible payment system is essential.
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