Retail is witnessing a time of unparalleled change. Since March we have seen the retail sector hit by bankruptcy after bankruptcy. As a result, here at Globant we have analyzed how the industry is responding and the best practices to adapt effectively to the crisis.
In this report we examine how the severity of the impact of the Covid-19 pandemic depends on the intersections and combinations between product category, digital maturity, and brand strength. We describe a Rubik’s cube of disruption tearing through the industry.
We provide examples of how retail executives are responding, and the factors that determine whether their organizations are in survival mode, adapting to the crisis, or thriving and leading the way. And we provide guidance on how to pivot your business depending on your current situation, and outline the steps to put place, or rapidly improve digital operations.