Steven: Keep your ears on the ground. Do data-driven thinking. Retailers need to track the route of consumers inside stores, but don’t dismiss the instinctive side of trendspotting. Then, aside from communicating safety, you need to promote new things to lure people back. Follow social media profiles of well-known trendsetters—the world is getting smaller, but translate that to your local context.
Kakam: Expect three changes: 1) Power of one versus power of many—instead of using only one celebrity, having word of mouth started by ordinary people can be better. 2) Massive digital migration. Even the taho vendor inside our subdivision accepts GCash only. There is a resurgence of QR code use in the Philippines. 3) Value 2.0, which means consumers are willing to pay premium prices for convenience, experience and delivery. The cheapest is not necessarily the best.
Steven: Three changes: 1) Retail can no longer be brick and mortar only—be present both online and offline. Everything in retail stores should be shoppable and shippable . 2) Find ways to support local communities . 3) Pivot your products. Perfume makers can create hand sanitizers to be saleable. Jewelry can be used as chains for face shields and masks.Kakam: 1) Use of data analytics. 2) Fridge brands will tell you when you are stocked out and need to reorder.
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