PERSPECTIVES

As the global efforts to "flatten the curve" of the coronavirus pandemic continue, there is another curve that is being flattened. That would be the seasonality of retail sales. 

And this may prove to be what really defines the New Normal for retailers. 

The customary peaks of retail spending have been flattened.

"Retailing dead?" Hardly!

“Retailing” is selling to the ultimate consumer. That is not going away, in spite of the current perception. 

What IS (appropriately!) endangered? Deadly retail real estate! Conventional, impersonal, and boring brick-n-mortar stores are deadly.

Maybe you know someone like this. Or are related to them. Or are looking at them each day in the mirror.

You know; the restless, impatient ones. The entrepreneurs; the risk takers.  Those who want to be their own boss. "Do it myself!"

Our theory is that the changes spawned from these triple pandemics – the coronavirus, the economic meltdown, and the civil unrest – will also be evident in new business startups. And that includes all kind of new retail concepts. 

Out of this period of unprecedented frustration can come new-found backbones. 

That's a sign of the times, isn't it?

While retailers are more accustomed than most folks to cope with change, 2020's unrelenting flexibility tests have been a challenge. Forget about five years. Retailers have to be ready for the next five months! It's back-to-school and then Holiday.

The only certainty about the next five months is that they will probably feel like the past five months. Yet you still must run a retail business. And that means you still must buy and sell merchandise. 

The opportunities – and the pressures – are mounting.

Yes, we know. Owning a retail business these days is one flexibility test after another. And there are no one-size-fits-all solutions. 

In the United States, one of the most widespread impacts of the virus is uncertainty. With no end in sight. It is the virus that is in charge. As the president of Alaska Airlines noted, "We don't know what the future looks like."*

But the fact remains, whomever is selling to the ultimate consumer has leverage. Might that be you?

So, say you have re-opened your stores. Then what? Did the customers come back? 

Or, were many of those who did show up just there to say "Hello!" And "We missed you!", but not to buy? Sigh.

We are not surprised. And here's why.
 

For retailers, the uncertainties caused by the impacts of the Covid-19 pandemic are unrelenting. 

• "'It seems that social distancing mandates won’t be the only thing keeping crowds down at businesses moving forward,' said Ted Rossman, industry analyst at CreditCards.com. 'A significant number of Americans plan to stay away on their own accord.'” ¹

So, what should we do with this additional "found time," waiting for the customers? That's a question we CAN answer!

As you are sorting out how best to reopen, we encourage you to be bold about embracing technology. Not just a POS system upgrade with better e-commerce capability. There's much more that warrants your attention. 

There's a whole alphabet of resources out there, already being embraced by many: ML (machine learning); AI (artificial intelligence); AR (augmented reality), QR (Quick Response matrix barcodes). All enabling chatbots, robots, digital displays and much else to become "smarter" and more applicable.