Adaptive retail is the new imperative for retailers. With global disruption, external pressures and responsibilities, retailers need to be able to adapt—fast. Adapting means evolving, and evolution is how to stay resilient.
Retailers need to adapt across three elements:
Adapt to new expectations—these include expectations of what employees may need in a new normal, how investors may evaluate your business in the future, and how consumers are looking to interact.
Adapt to new ways of working—these include redefining talent to allow work to be done anywhere and supported by technology, viewing competitors as potential allies, and partnering with the technology ecosystem for meaningful shared value.
Adapt to new global climates—these include climates like social and political unrest, economic turns around the world, and environmental challenges that demand sincere investment.
Today's retail is never outright simple. Tomorrow’s retail is always in business.