Retail brands need a radical rethink in a post-Covid world – Campaign US
The past few months has thrown up some unexpected bumps in the road for brands and their people, including me. I left my CMO role at Dreams – a brand and job I loved – in April as part of the retail shutdown.
Time on the sidelines has given me a chance to view the current goings-on more closely – more impartially, maybe – as non-essential retail has reopened this month and hospitality is set to follow on 4 July.
As we think less about what’s happened and more about how to navigate out of this pickle and into a brighter future, we can be confident that the market will come back – but differently.
Two key factors will dictate demand on the other side: consumer spending power and consumer confidence to shop.
Somehow, the new “normal” world could shimmer even more for the best of us, if we consider some of these themes.
It’s time to really start thinking about the post-crisis world
Positively and constructively. What have you learned about what has changed that may permanently shift the dynamics of your business? How it will affect your brand(s)?
There will also be a wider economic aftershock, following the initial Covid-19 explosion. The best brands will work out the new landscape the quickest. Brands that looked after their people the best will surely retain the best people – and in turn be better, stronger businesses for it.
As ever, the consumer really holds the whip hand. Management need to lead their businesses like a consumer more than