Retail Industry

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Roughly three months have passed since businesses began shutting down across the US as a result of the COVID-19 outbreak, signaling the start of an economic downturn and a completely new way of operating for many brands and retailers. [/tatsu_text][tatsu_text bg_color= \”\” color= \”\” max_width= \'{\”d\”:\”100\”}\’ wrap_alignment= \”center\” text_alignment= \'{\”d\”:\”left\”}\’ margin= \'{\”d\”:\”0px 0px 30px 0px\”}\’ box_shadow= \”0px 0px 0px 0px rgba(0,0,0,0)\” padding= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_style= \'{\”d\”:\”solid\”,\”l\”:\”solid\”,\”t\”:\”solid\”,\”m\”:\”solid\”}\’ border= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_color= \”\” border_radius= \”0px\” text_typography= \'{\”d\”:\”\”}\’ hide_in= \”\” css_id= \”\” css_classes= \”\” animate= \”1\” animation_type= \”none\” animation_delay= \”0\” animation_duration= \”300\” key= \”XbSXLKaib\”] Now, as restrictions are slowly lifted (to varying degrees), business leaders are tasked with reshaping the way they manage almost every part of their company. [/tatsu_text][tatsu_text bg_color= \”\” color= \”\” max_width= \'{\”d\”:\”100\”}\’ wrap_alignment= \”center\” text_alignment= \'{\”d\”:\”left\”}\’ margin= \'{\”d\”:\”0px 0px 30px 0px\”}\’ box_shadow= \”0px 0px 0px 0px rgba(0,0,0,0)\” padding= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_style= \'{\”d\”:\”solid\”,\”l\”:\”solid\”,\”t\”:\”solid\”,\”m\”:\”solid\”}\’ border= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_color= \”\” border_radius= \”0px\” text_typography= \'{\”d\”:\”\”}\’ hide_in= \”\” css_id= \”\” css_classes= \”\” animate= \”1\” animation_type= \”none\” animation_delay= \”0\” animation_duration= \”300\” key= \”qvv_fmgdo\”] Recently, the Thrive Commerce team hosted a roundtable discussion with CEOs, CMOs, eCommerce leaders, Senior Marketers and retail consultants to hear what companies, big and small, are doing differently in the post- COVID era. Here are a few trends that surfaced: [/tatsu_text][tatsu_text bg_color= \”\” color= \”\” max_width= \'{\”d\”:\”100\”}\’ wrap_alignment= \”center\” text_alignment= \'{\”d\”:\”left\”}\’ margin= \'{\”d\”:\”0px 0px 30px 0px\”}\’ box_shadow= \”0px 0px 0px 0px rgba(0,0,0,0)\” padding= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_style= \'{\”d\”:\”solid\”,\”l\”:\”solid\”,\”t\”:\”solid\”,\”m\”:\”solid\”}\’ border= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_color= \”\” border_radius= \”0px\” text_typography= \'{\”d\”:\”\”}\’ hide_in= \”\” css_id= \”\” css_classes= \”\” animate= \”1\” animation_type= \”none\” animation_delay= \”0\” animation_duration= \”300\” key= \”cs6wIgFrd\”] 1. Buying cycles and inventory management may have changed foreverAs brands and manufacturers look to take more control of their own destiny, the traditional cycle of seasonal sell-in is quickly fading. The need to react to the moment and operate under shorter lead times and inventory turns, paired with the desire to reduce the risk of inventory backlogs due to uncontrollable macro-factors, means 6-months buys and seasonal planning are starting to morph into the cycles used by fast-fashion and hype brands. Brands that are able to build a zero-inventory model (manufacturing on-demand), even at diminished margins, or can create a more flexible supply chain, hold a clear advantage. [/tatsu_text][tatsu_text bg_color= \”\” color= \”\” max_width= \'{\”d\”:\”100\”}\’ wrap_alignment= \”center\” text_alignment= \'{\”d\”:\”left\”}\’ margin= \'{\”d\”:\”0px 0px 30px 0px\”}\’ box_shadow= \”0px 0px 0px 0px rgba(0,0,0,0)\” padding= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_style= \'{\”d\”:\”solid\”,\”l\”:\”solid\”,\”t\”:\”solid\”,\”m\”:\”solid\”}\’ border= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_color= \”\” border_radius= \”0px\” text_typography= \'{\”d\”:\”\”}\’ hide_in= \”\” css_id= \”\” css_classes= \”\” animate= \”1\” animation_type= \”none\” animation_delay= \”0\” animation_duration= \”300\” key= \”V1LudxBp2\”] \”This moment could be extremely eye-opening for D2C Brands\” says John Woodman, Global Ecommerce Sr. Director of Reebok. \”Traditional wholesale models that large companies tend to rally around makes no sense to the consumer and has no bearing on the consumer, but yet it drives a lot of our decision making and the go-to-market process. Companies may start to realize how much they are missing out on by sticking to this antiquated wholesale selling milestone model.\” [/tatsu_text][tatsu_text bg_color= \”\” color= \”\” max_width= \'{\”d\”:\”100\”}\’ wrap_alignment= \”center\” text_alignment= \'{\”d\”:\”left\”}\’ margin= \'{\”d\”:\”0px 0px 30px 0px\”}\’ box_shadow= \”0px 0px 0px 0px rgba(0,0,0,0)\” padding= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_style= \'{\”d\”:\”solid\”,\”l\”:\”solid\”,\”t\”:\”solid\”,\”m\”:\”solid\”}\’ border= \'{\”d\”:\”0px 0px 0px 0px\”}\’ border_color= \”\” border_radius= \”0px\” text_typography= \'{\”d\”:\”\”}\’ hide_in= \”\” css_id= \”\” css_classes= \”\” animate= \”1\” animation_type= \”none\” animation_delay= \”0\” animation_duration= \”300\” key= \”W6-Z0v7SK\”] 2. Product seasonality is also changingThanks to changing workplace policies – and work from home / flexible hour opportunities – some products that were once stuck in pockets of seasonality are now year-round hits. Slippers are home office footwear of choice, and no longer a cozy winter commodity, said one Sr Director of Marketing for a Top