Transforming retail landscapes in the face of crises
The Covid-19 pandemic has expedited the growth of e-commerce and it’s imperative for retailers and consumer packaged goods vendors to reimagine their operations if they want to stay competitive. We ask Microsoft and its partners how they can achieve this
iStock
Supply chain disruptions, store closures, fluctuating product demand and rapidly changing consumer behaviours have significantly altered the retail landscape since the onset of the Covid-19 pandemic, with a larger proportion of sales moving online than ever before. According to McKinsey & Company’s Adapting to the next normal in retail: The customer experience imperative report, e-commerce sales for apparel, beauty products and department stores have increased by almost 10 per cent this year, while e-commerce penetration in the grocery sector rose from three per cent up to 10 per cent during its peak.