The Coronavirus (COVID-19) crisis has led to a major structural change towards a complete digitalisation of operational structures of lifestyle brands, which in turn has reset the importance of customer experiences, building trust and strong relationships as part of the customer journey more than ever in the “new normal”. Consumer-centric mindset alongside changing operational set-ups such as remote working are all helping to establish a new value-based economy.
This report comes in PPT.
The e-commerce boost is here to stay, accelerating the process of store reinvention as the bifurcation of the in-store experience and e-commerce becomes more stark. The pandemic will have made omnichannel adoption even more critical for lifestyle brands.
DTC brands are finding more space online following the surge in e-commerce sales during and in the wake of the pandemic. These brands will leverage existing stores to improve service elements, and differentiate in brand engagement to stand out from existing e-commerce marketplaces.
Physical stores will be revitalised as service hubs, incorporating more elements of delivery fulfilment and click and collect. These activities can be a gateway to more online engagement, especially relevant for retailers with high store footprints and potentially low e-commerce traffic.
Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.
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