Constructing Pitfalls: Post COVID-19 Rehearsal
Tags: startup, blockchain, datascience, management
Published: 2020-08-17 14:37:57

In a war towards sustainability, even the most intact businesses are diving towards changes. Accessing the revolutionary patterns with the hope to establish a stable foot eventually.

Some spotted changes are: Fewer stores with less physical interaction and more automation, cashless payments, advanced anti-microbial surfaces, and more safety measures, greater integration with online retail, and zero contact curbside pick up is just an example of the current pandemic measures.

E-commerce will see more economic activities, and restaurants will encounter transformation contrasting chances that the industry has experienced since Prohibition.

Investing in some of the unique digital capabilities — forecasting and predictive analysis, real-time inventory management, personalization, co-creation, and AI-powered search functions— can create distant shopping experiences. A retailer can use these innovative capabilities to create an interactive, social, experience wherever customers are — that’s something no physical outlet can provide.

Portraying a single clothing item on multiple models to show what it looks like on different body shapes and sizes or using videos to demonstrate how real customers use a tool.

Retailers have to make sure their sites offer integrated services such as “buy online pick up in-store” (BOPIS), are mobile responsive, and deliver a consistent, well-grounded digital experience across devices and channels.

One survey of several thousand small businesses, including hotels, theatres, and bars, states that only 30 percent are expected to survive a pandemic that lasts 3 months.

Daniel O’Connor, a visiting executive at Harvard Business School and the veteran retail consultant said, “I suppose that retail capability is reduced, relocated, and repurposed. Reduced means thousands of restaurants can crash. “Flat out, I’m telling you plenty of today’s edifice locations are going to become gyms,” O’Connor mentioned. Relocated means that several restaurants that survived will learn they can face the pandemic no more. They’ll rummage for some new location or change to a food truck.

O’Connor said, “Repurposed means the restaurants of 2010 aren’t going to be the restaurants of 2025”. “The pandemic is going to accelerate the shift to contactless delivery of meals, groceries, and products of all types.”

Ultimately, Consumers have had to terminate and consider what they can afford (with widespread job losses and salary cuts), and what matters, which could lead to a new era of mindful consumption. Restructuring your business plan and amending these changes should be a priority. Many businesses work on providing you infographic reports analyzing your go to plan. Shoppers have had their lives put on pause during the COVID-19 crisis; a very real “punctuation point” in the evolution of purchase behavior.

Retail spending in March subsided by the largest number on record the U.S. Commerce Department reported. If you include refunds, Travel spending—including on airlines, hotels, and cruises—is down more than 100 percent. After having experienced years of decline, department stores and clothing stores are facing an extinction-level event. Pockets of durability and even strength include grocery stores and liquor stores, which in March had their best month of growth on record. Home-improvement spending is up as well.

One solution: takeaway booze. “I’ve spoken to lots of restaurants who say that alcohol delivery has preserved their company,” H. G. Parsa, of the University of Denver, said. 
As these anchor stores fade, hundreds of malls that were already shaking in 2019 will be knocked out in 2020.

At a time when the economy is degrading several million jobs per week, Amazon, Walmart, Instacart, Walgreens, Dollar General, and Kroger collectively have job postings for more than 700,000 full-time employees or contract workers. 

A recent UBS analysis predicted that Online shopping’s share in COVID-19 will immediately increase that share from 15 percent to 25 percent from approximately one percentage point per year.

This all-delivery economy will need either a giant leap in autonomous vehicles and drone technology or a significant rise in delivery workers. 

Blue dot navigation with Indoor positioning technologies can enhance the shopping path for new or temporary employees who are fulfilling these types of orders. This reduces the amount of time they have to saunter the store looking for BOPIS items, boosting efficiency. Also, knowing the exact location of a ready-for-pickup order gets the customers to enter and exit faster.

Point-of-sale data is appreciable for knowing what is selling in stores, but when it comes to comprehending what’s happening in your stores, indoor positioning and location data is vital to answer this question. The existence of real-time location data is becoming vastly more important to retailers given the fast-moving changes to the industry brought on by COVID-19.
Amid closures, Cultural institutions around the world are presently live streaming content. When organizations open their doors and public, in-person experiences come back, planning for accessibility will be an area that continues to develop in AR.

Watching, listening, and feeling possible realities through the power of AR can blend our willingness to embrace and activate positive change in the world. Let’s build it our collective commitment and goal to shape for the best of humanity.