The great acceleration of ecommerce, fueled by American’s response to COVID-19, has stretched our infrastructure and compressed growth timelines.
Brands and retailers are forming a shared responsibility for growth. This shift has prioritized agility, necessitated a closer connection to the consumer, and upended the traditional approach to scenario planning.
In this episode of Retail Sound Bites, we bring together a panel of industry experts to discuss the changing media and marketing landscape with a special focus on the role that agencies and technology partners can play to help brands navigate the new world of omnicommerce.
Key takeaways include:
- Diversify your supply chain. Maintaining availability and readiness to start pushing products from various supply chains will provide a significant competitive advantage, especially in a potential second wave of the pandemic.
- Employ an omnichannel marketing strategy. Brands that follow the consumer through their entire purchase journey stand a greater chance of winning the ecommerce battle.
- Be nimble. The more efficiently you can move spend to more effective channels, the better chance you have of capturing an engaged consumer.
- Invest in scenario planning. Shore up gaps, rationalise SKUs, find new partners, and leverage new datasets to ensure your brand is prepared for a second wave.
- Capitalise on current shopper needs. Tailor your marketing campaigns for the realities of 2020 back-to-school and holiday to pull Q4 demand forward.