I was amused to see that I started the year with a quote from the Nobel laureate Niels Bohr: “Prediction is very difficult, especially if it’s about the future.” No kidding, right?
Just think of the sales potential from knowing someone just had a really bad day at work, then offering them a discount on a bottle of their favourite whiskey, which can be delivered to their home within an hour.
Those who spot the trouble first will be best placed to avoid it, switching to alternative suppliers before stock shortages hit the market.
We are witnessing some lasting changes in customer behaviour.
Coming out of lockdown is going to highlight everyone’s strengths and weaknesses. Being under lockdown did the same, really.
What’s happening in Phase-2 countries where stores are already re-opening?
According to Barclays, the high streets of Britain are experiencing a surge in popularity. Could the high street be one of the unlikely beneficiaries of the pandemic? It’s an intriguing thought.
Blaming the demise of any retailer on the coronavirus makes it easy to say “there was nothing we could do.” But that sort of thing makes it difficult to learn from a situation.
15 billion euros in potential sells and thousands of shops and jobs lost. This is the inauspicious forecast made by Renato Borghi, President of the Italy-Confcommercio Fashion Federation, which prompted us to create our first fashion business case, which can be downloaded here.
In this scenario the limitations of the “old” mentality with which many Italian companies have faced the advent of e-commerce become even more limiting.