Many times during 2020 we spoke of "disruption with a capital D!"
And now, more than a third of the way through 2021, that Disruption with a capital D shows no signs of abating. Instead, it just keeps morphing (not unlike the Covid strains that keep emerging....)
But the disruption that we see emerging is in the attitude, deportment, and psyche of Millennials, and the many people who are now acting like Millennials. This is showing up in the attitude of shoppers as well as employees.
Consider how the expectations of life and happiness of these digital natives have been shaped by a seemingly relentless series of major disruptions: 9/11; school shootings; the Great Recession; and now the triple pandemics of COVID, the economic meltdown, and civil injustice.
And now, as we emerge from the pandemics, this Millennial mindset has become pervasive.
But it's not just jobs that matter to retailers. It also affects what shoppers want from your store and your merchandise – authenticity, convenience, personalization, uniqueness, 24/7 availability, quality, all with low prices, too.
Indeed, the disruptions with a capital D show no signs of abating.
But then again, it seems to us that what the Millennials and other values-seeking people want is not that much different than the values of independent retailers.
Retail IS a mirror of society. Those retailers who survive are those who are able to keep adjusting.
Avocado toast, anybody??
* It's not a "labor shortage." It's a great reassessment of work in America. Heather Long, Economics reporter. The Washington Post, May 7, 2021.
We believe there are not one, but three(!) pandemics occurring simultaneously right now. Of course, the COVID-19 virus elevated the word "pandemic" to a status that identifies even a generation of babies.
But the other two pandemics are equally paralyzing: the nationwide (even worldwide) protests of racial injustice, and the severe unemployment from the economic collapse.
Indeed, three concurrent, worldwide sinkholes. We call it the "pandemic trifecta of 2020."
So, what's an intelligent retailer to think now?!
Here's one idea that we believe can help you have more confidence in your immediate decisions. Think beyond this week and this month.
Still less than $1 a day! 👀