Omnichannel Buying & Merchandising | Retail Marketing | Fulfillment
Future of brick and mortar
Store operating systems need to be very hygienic and this is a crucial step that brands need to take in order to ensure that apparel trials are carried out in a very checked environment. Introducing queues and having only 8 to 10 people in the store at a time can also be a good idea to reduce unnecessary crowding in order to maintain social distancing. Training the staff and making them wear masks and gloves throughout the day will help prevent unnecessary panic in the minds of consumers arising due to the ‘touch scare’. So, initially, the 8 to 9 months will be very crucial and stressful. But once reforms are brought in and everyone starts to operate within a system, it is bound to get easier to strike a chord with the consumer.
Will brands still invest in marketing campaigns?
Marketing tools or mediums will become more affordable in the time to come. So, if as a brand you have a good story, a good line, or merchandise that you know deserve to be marketed, then it is always better to market the line and not stop on budgets. Having said that 80 to 90 percent of brands will definitely curb their marketing budgets in the post-pandemic world.
Cash preservation is a
It is the right time to hold on to the capital and only invest in the necessity. Slow and steadily grabbing back the market is the strategy to adapt and whatever little a brand decides to spend, a portion of the same needs to be used to invest in technology.
Technology adaptation has to be fast-forwarded
This is the time to say yes to technology in whatever ways it suits your brand and it will help you become more agile and prepared. Not only that, now the focus should be on omnichannel and the faster a brand builds on their omnichannel presence the easier it will be for them to grab customers on varied touchpoints and this will ensure cash flow too.
Product lifecycle management and the challenges ahead Given the scenario at hand, we can’t think conventional and now is actually the time to fuse 2 seasons in one. We can’t afford to have a 9-month collection cycle, rather we have to make it a 3-month cycle and that’s how we can bring back periodicity into the way we function and build up the product lifecycle once again.