As we work our way through business recovery, and organizations navigate the phases of reopening, questions linger about the retail industry and what, if anything, will be different. While the retail industry has been historically resilient, it has been transformed by the COVID-19 pandemic. Insights into the current nature of consumerism and lessons learned as the crisis unfolded may foretell a permanent change.
Extracting and acting on lessons learned will be vital—not only for retailers to return to profitability but also because we’re not necessarily past the crisis.
Loss Prevention Magazine spoke with industry experts, including WorldAware founder Bruce McIndoe, to discuss how the retail industry will be reshaped and what can be expected moving forward. McIndoe addressed the convenience of online shopping versus traditional shopping habits, the value of mobility and location awareness, and the importance of paying attention and learning from this period.
Read the full feature here: In Sickness and In Health: Retail Is Forging Ahead Transformed by Pandemic