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SUPPORTED CONTENT


POST COVID-19: THE NEW NORMAL


☛ WEB VERSION: https://bit.ly/2O2XEjv


Preparing supply chains for the new retail landscape


By Louisa Hosegood, digital and strategy director, Bis Henderson Consulting


The Coronavirus has radically and abruptly changed the way we work and live our lives. How will this alter consumer behaviour and attitudes? And what will this mean for retail and the supply chains that support it?


W


e may not have a crystal ball, but there are some trends


and features that are near certainties. Interestingly, many of these are not solely the result of the current crisis – in many cases they are amplifications and accelerations of trends that were already on the horizon.


Finding the new normal It may take months, even years, for the shape of the new retail economy to become clear, and firms that reap early profits from an initial return to ‘normality’ may not necessarily be best positioned for success in the longer term. They will discover that true resilience isn’t about bouncing back to business as before; it is about bouncing forward to grasp new opportunities in new conditions.


Governments have of necessity taken control, and to some extent ownership, of large parts of their economies – they may prove reluctant to loosen their grasp. The


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liberal laissez faire free market philosophy may to some extent be replaced by state support for domestic manufacture in key sectors; the reintroduction of tariff and non-tariff barriers, and domestic preference in public procurement. For retailers there may be new market distortions: for example, effective subsidy for physical High Streets, and new pressures and burdens on online retail, creating disincentives towards adopting new technologies, techniques and business models. On the other hand, government may learn some useful things: for example, the current loosening of Competition law to allow food retailers to share physical assets, workforces and demand data may suggest that there are ways of encouraging supply chain collaboration that are economically beneficial, serve the Green agenda, and do not constitute a conspiracy to disadvantage the consumer.


Direct Commerce | homeofdirectcommerce.com


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