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6 July 2020 \\ Retail
Author: Alexander Boast
Businesses around the world are still scrambling to react (not adequately respond, but react) to the world-changing events of the Covid-19 pandemic.
Whilst research is still being done on the hardest-hit industries, anecdotal evidence can easily pick out travel, tourism and hospitality as some of the biggest casualties, but new headlines emerge daily about the retail industry shaving hundreds or thousands of jobs from their stores if not closing them outright.
What if I told you that some businesses haven’t been hit very hard, or are outright growing? Would you believe me?
Today we’re going to look at the types of businesses that have amazingly been able to adapt and thrive to the current socioeconomic climate.
D2C – in fashion retail, Direct-to-consumer is all the rage right now and goes hand in hand with the digital first theme. We’re seeing new brands pop up all over the place and manage their own relationship with their customers via online communities rather than through a retailer’s physical store.
The Wetherspoons example – when it was announced that UK pubs would have to offer table service and the ability to collect contact data of customers, this was no problem for Wetherspoons, who have been doing this already for ages in a great example of innovation at the time.
People, Process, Technology – the last piece of the puzzle
13 July 2020 \\ Technology
Author: Alexander Boast
The global pandemic sweeping the planet has made many businesses realise that they have too many people, too much process, and not enough technology.
For the tech sector, there are emerging opportunities within the threats presented by the on-going socioeconomic crisis.
The advances in technology were accelerating long before the coronavirus gripped the people of the world, and the resultant lockdowns have further increased our reliance on technology.
Savvy business owners and entrepreneurs understand that whilst the market is highly-competitive, it is also ever-changing, and “unprecedented” scenarios such as the time we are living in offer gaps in the market in desperate need of filling.
The result is a global tech renaissance that we should all be thrilled about, eventually.
This isn’t about keeping up with your competitors, it’s about surpassing them by stealing market share, pivoting if needed and doing the right thing for your stakeholders, whether they’re staff, partners or customers.
Take paperless payments, for example – they’re more sought-after than ever. Technology such as this allows you to protect revenue, reduce overheads and run in a lean and agile manner, all you need is the technology to do it.
We’ll look at key aspects of your business such as management and culture, operations and processes, internal communications, marketing, and sales, then provide you with an overview that will help you understand your business pain points and areas for improvement detrimental to growth.
Importantly, we can help you uncover risks you might not be aware of.
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