Retail. The West delays whilst the East is innovating
From Hong Kong to the Emirates, the retail of tomorrow is being invented in the Far East.
Where a business has reopened, retailers and property companies are charting a new course. Business practices and trends are in place that would astonish the old guard 3 months ago.
Asia and the Emirates are one step ahead in the global health crisis, and for retailers, showing how to initially manage the aftermath. Whilst Europe and the U.S.A. are protecting themselves with restrictive health measures while trying to hold on to loans, others are inventing the retail of tomorrow. We examine how the battle lines are shifting.
Omnichannel is no longer optional.
For those who have delayed implementation, the market players show this is THE short-term priority. An example is the fashion sector. Front line retailers receive a million pieces from Asia and deliver more than 90% to stores for sale, with only a small number of products held for the e-commerce warehouse. By redirecting products already in a store to be sold via e-commerce, retailers satisfy customer demand even if the item is not in a warehouse. Historically, this was “out of stock”, whereas now margins improve. The proof of this flexibility is the ability to quickly
Other articles in this issue
From Hong Kong to the Emirates, retailers and property companies are charting a new route. We surveyed how.
And also:
- Department stores. What prospects and strategies?
- What are Ikea’s projects for China and the U.S.?
- Luxury. “Do you provide luxury or accessibility? Of course, we offer both!”
- Which technologies favour social distance?
- Business case Etam Group. “There is more interest in trusting one’s clients than in distrusting them.”
- U.S.A. Making cash-strapped consumers spend money
- China. Retail support by state intervention
- “Big retailers will come out of this crisis in a better position”. Exclusive interview of Victoria Glanz, Senior Partner at Full Jet
- Why is Daniel Kretinsky investing in Macy’s?
- Luckin Coffee. Dismissal at the top at the “Chinese Starbucks”
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