Future of Retail
Katerva is delighted to sponsor the #FutureOf series at LeadersIn, written by Katerva's #Futurist Adi Gaskell. Another area that has hugely been impacted by the CORONA Virus is Retail - which Adi cnosiders in this mini-series.
The first part looks at the impact on shops and retail. Noting that the crisis has accelerated e-commerce, the following McKinsey article reimagines what stores for the next normal might look like. If you want to delve deeper into what shopping centres might look like in a post-pandemic world, watch the video below with Mark Toro, Chairman of the Board, North American Properties and Doug Stephens, International bestselling author and CEO + Founder, Retail Prophet, moderated by: Reilly Stephens | Director of Insights, Retail Prophet. (Once you are beyond the introduction it gets quite interesting ;-)).
The second article on The Future of Retail focuses on delivery, delivery by automatons in particular - be they drones or robots. It is already happening, be it Starship Technologies who have commenced commercial deployment of their delivery robots in March in Milton Keynes, UK; Alphabet company Wing, which is offering one delivery services, or large companies such Walmart and Amazon developing their own fleets, as do delivery services such as UPS and DHL. An article on RubyGarage (offering analytics & software development) looks at the future of food deliveries in particular. THe video below gives an insight into a start up in the field of logistics, focusing on last mile delivery: Flirtey.
The third article on The Future of Retail takes a closer look at the impact of the CoronaVirus on supply chains. If there is one area where the virus has pulled existing global connectivity and interdependencies into the limelight, it is supply chains. The hunt for the cheapest places of production has led most manufacturers to let go of any local production capabilities, and with it the direct and immediate access to their goods. This article looks at procurement priorities and change drivers over the next 5 years, as well as key considerations for the supply chain of the future - which resonate with the views of KMPG experts of where supply chains will (have to) go next captured in the video below.
The final article on The Future of Retail Adi looks at how Covid has impacted the customer experience, and what this means for retailers. We could not agree more with his concluding statement, “ Being deprived of those we love has reinforced just how important it is to treat one another well, and companies that can do that will reap the rewards. Those that cannot may feel the force of consumers who will develop long memories.” Organisations will only be able to truly focus on people if they understand that technology ought to support, not take the limelight. In their article of May 2021, McKinsey state that, “The pandemic has changed consumer behaviours, some permanently” and offer some thoughts on what retailers can do to keep up with customer expectations.