Across both AF&L and food, drug, and mass-merchandise (FD&M) players, the shift in consumer spending to online will pose a question about the future—and purpose—of their brick-and-mortar locations. But, despite the difficult economic outlook, we expect retail M&A activity to accelerate as the crisis stabilizes, creating opportunities for financially sound players to acquire or partner with less advantaged players. FD&M players may double down on the acquisition of digital capabilities, platforms, and other value-adding bolt-ons (archetype 4) to enhance and transform existing operations quickly, given the relatively strong performance and persistent demonstration of touchless use cases. For example, one of North America’s leading retailers is actively deploying inventory across the network to regions with the biggest product-availability deficits. According to McKinsey & Company—which has been surveying 1,000-plus U.S. consumers ages 18 and up on a weekly, ongoing basis since March 16—while discretionary spending categories including travel, out-of-home entertainment, apparel and footwear, and home furnishings are down, shelter-in-place directives and social distancing have caused American buyers to spend more in a … Companies that reconfigure their engagement strategy and operating model can excel during the pandemic and in the next normal. The contents of this site, including any statements, articles, graphics, charts, checklists, and other materials (“Content”) are for informational purposes only. An analysis of retail traffic in major US metropolitan areas between February 19th and March 20th showed increases in traffic at grocery stores and warehouse chains, while movie theaters, restaurants, and malls remained closed. Global strategy consulting firm McKinsey & Company polled over 1,000 UK consumers to find out more about the shifting landscape – seven charts from the firm’s study outlining the main findings. The crisis wrought by the COVID-19 pandemic is first and foremost a human tragedy. “US consumer sentiment during the coronavirus crisis,” March 2020; “Spanish consumer sentiment during the coronavirus crisis,” March 2020; “Italian consumer sentiment during the coronavirus crisis,” March 2020; “UK consumer sentiment during the coronavirus crisis,” March 2020. McKinsey: 75% of Americans have changed brands during the pandemic. By Harris Atmar, Steven Begley, Jane Fuerst, The next normal: Retail M&A and partnerships after COVID-19. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. COVID-19 stellt neben dem deutschen Gesundheitssystem auch die deutsche Wirtschaft vor große Herausforderungen. People create and sustain change. In the new COVID-19 context not all retailers will be equipped to pursue M&A. This may create opportunities for the largest retailers to expand their geographic reach and generate backend synergies. Analysis of more than 900 global retail M&A deals over the last ten years suggested the following archetypes (Exhibit 1): Historically, archetype 1 (in which the retailer or brand buys a like business, usually to gain scale or share) drove most of the deal value. The other archetypes saw lower value creation, potentially reflecting questions about the wide variance in P&L economics of the e-commerce channel and new business models. McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. solidation, leaner retail formats, direct customer access, and alternative sales models. By Reuters Staff. Taking learnings from the last recession, retailers that can continue to make organic and inorganic investments through a down cycle typically outperform competitors over the long term. Consolidation of smaller players, acquisition of new business models, and capability tuck-ins (such as archetypes 1, 3, and 4) are likely to increase as financially sound retailers and industry stakeholders uncover opportunities. Retail is one of the sectors most affected by COVID-19, in both positive and negative ways. McKinsey Global Institute. The longer the crisis lasts, the greater the likelihood that online and omnichannel purchasing will become the next normal. Dans cet article, nous tirons cinq conclusions d’une enquête réalisée par McKinsey. The new reality will depend largely on how core consumer segments, including behaviors and spending habits, have been impacted by COVID-19. To conserve cash, these retailers can remove incentives for on-time deliveries, suspend credit extensions, and do more business with suppliers that have relatively healthy cash reserves. Build conviction through identification of key areas of exploration within the M&A and partnership market and think through value creation up front. Now is the time for retailers to think about M&A postcrisis. Players without the cash and financial health to pursue acquisitions should identify potential assets to liquidate or potential partnerships to shore up the balance sheet until the crisis passes. In addition, we are seeing retailers take money previously earmarked for in-store marketing activities and use it to build the operational flexibility they need to improve on-shelf availability for essential items. We’ve seen some companies reassign current employees to have more capacity in nondiscretionary categories where goods are selling fastest. One is simplifying their SKU profiles to reduce variety and boost quantities, which helps suppliers to accelerate the processing of orders. The economic impact of the crisis is far reaching and profound, and presents challenges to the financial services industry and its institutions at levels reminiscent of the worst crises of the last 100 years. For example, a leading grocer’s category teams are reallocating shelf space for canned goods and working closely with suppliers to focus on availability and replenishment speed rather than promotions. Please click "Accept" to help us improve its usefulness with additional cookies. Other downstream opportunities in food service may materialize as some players face financial pressures. 1 Analysis of the financial crisis in 2008 also indicates that companies that take M&A action early may also benefit from more favorable valuations at first (Exhibit 2). Retailers are taking several steps to do so. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. McKinsey Quarterly McKinsey Quarterly The pandemic has forced retail executives to mount urgent efforts to adapt their supply chains, whether by revising their purchase orders and merchandising plans or by reallocating all kinds of resources—working capital, inventory, employees, transport capacity—to where they are needed most (Exhibit 2). The past five years have favored a few AF&L success stories and left a long tail of lower-performing companies. Help Main Street View the interactive map to find local businesses selling gift cards and products or services online. As retailers recalibrate their product orders to line up with consumer demand, they will need to cascade the changes across purchasing, planning, and inventory-management operations. 1. 1. McKinsey Quarterly In the short term, this roll-up may manifest as purchase of assets, particularly well-priced prime retail locations. Retail. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. We use cookies essential for this site to function well. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. This McKinsey podcast explains how. Concerns about health and safety have never loomed larger for stakeholders across the value chain. Dive Brief: Automotive, consumer goods and retail supply chains are in danger of stock-outs by the end of March, late April and May, respectively, due to COVID-19 related supplier delays in China, according to a report McKinsey released this month. Please click "Accept" to help us improve its usefulness with additional cookies. Maintaining good workplace hygiene is also important. Please click "Accept" to help us improve its usefulness with additional cookies. That might call for shortening store hours to create enough time for thorough cleaning and giving workers extra training in how to avoid infection. From how we interact with our friends and family to working from home and so much more. As the coronavirus pandemic disrupts the lives and livelihood of millions, retailers are working to understand what changes will be needed once the outbreak subsides and stores can reopen. COVID Response Center Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. These are not easy choices to make for either party and would require collaboration among retailers and vendors to benefit both sides. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Retail banks have a prominent role to play in guiding the world toward economic recovery, while preserving the health of their organizations. Declining sales of nondiscretionary goods, on the other hand, have put pressure on the cash flows of retailers that sell or specialize in these items. Now more than ever, maintaining the flexibility of logistics is essential for limiting disruption to essential services. We’re seeing retailers of nondiscretionary goods make these changes more successfully by adhering to several practices. Please click "Accept" to help us improve its usefulness with additional cookies. Some retailers have temporarily moved their office workers into distribution centers to perform jobs like operating forklifts, in addition to hiring associates from discretionary-goods sectors, where demand has tapered off. One strategy retailers are adopting is to have suppliers bypass distribution centers and ship goods directly to stores. How have their tastes, preferences, or concerns changed, driving new opportunities for differentiation or shaping new habits? Traditional FD&M and pure-play e-commerce players may move opportunistically into adjacencies (archetype 3) to integrate vertically and strengthen their route to market. UK faces skills shortage as COVID-19 splits job market, McKinsey says. As the coronavirus outbreak has spread and its humanitarian impact has grown, retailers have stepped up their efforts to provide consumers with essential goods and to protect the health and well-being of the communities they serve. Digital upends old models. Kelly Ungerman, senior partner at McKinsey & Company, explains how the 'new normal' of retail and business is forcing a rethinking of what customer care means. McKinsey states that banks have a role to play as systemic stabilisers, particularly as a high number of homes may be susceptible to the effects of coronavirus measures. In the surveys noted above, McKinsey asked consumers whether they were planning to increase or decrease their in-store and online spending on various types of goods during the next two weeks. COVID Response Center. However, amid increasing pressure on performance, shifting consumer behaviors, and accelerating demand for digital, there is an imperative to act decisively to prepare for the next normal. We use cookies essential for this site to function well. Eine Überlastung des Gesundheitssystems konnte bisher zwar vermieden werden – doch die Bekämpfung des Coronavirus’ gerät zur Nagelprobe für Gesundheitsversorger und -versicherer. The outbound-tender rate-reject index, which measures adherence to contracted rates for shipping, has also increased by 20 percent, indicating that carriers are rejecting contracted rates and instead selling capacity on the spot market. Acquisitions to expand into new categories or channels (archetype 2) may be smart plays for FD&M retailers, especially as they prepare for the next normal postcrisis and face lower in-store traffic. Roll-ups of smaller regional or independent FD&M players (archetype 1) may accelerate in 2021, as these retailers face sustained sales declines driven by consumers shifting to alternative channels or players with stronger omnichannel offerings. Most transformations fail. COVID Response Center. McKinsey’s Daniel Zipser: Well, I put myself back into my shoes back in November 2019. We also envision that a potential economic crisis will make it more important to carefully think through how a deal can help to sharpen and/or reposition the joint entity’s value proposition(s) to better service customers’ needs. One is widening delivery windows from immediate or same-day to two or three days. This McKinsey podcast explains how. It is also redirecting its resources, including capital and staff, from nonessential to essential categories. Governments have taken drastic action to control the virus in these regions, massively disrupting retail operations. It could drive new models of collaboration between retailers and their stakeholders to address scarce capabilities and enable the labor pool to move more fluidly in order to meet demand across priority activities. hereLearn more about cookies, Opens in new For players with limited cash availability or challenging financial health, partnerships with other players to pool financial resources while addressing strategic priorities could be considered (for example, sourcing collaborations). 2. A retailer, for example, has been offering day-care benefits and one-time cash incentives and is staggering shifts to improve retention and reduce turnover during this critical period. Consumer intent, of course, varies by individual economic situation and outlook. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. At the beginning of 2020, the global private-equity industry had an estimated $1.5 trillion in dry powder, One fashion retailer’s response to the outbreak reflects all these moves. McKinsey Global Institute ... stable, growing by around 4 percent over the previous five years. This article examines trends that are likely to create M&A and partnership opportunities that may enable retailers, brands, and investors to shape the next normal postcrisis. Between shifts, retailers can suspend operations at their distribution centers so that cleaning crews can sanitize equipment. In discretionary-goods categories, retailers are trying various delivery-related promotions to boost sales. As supply chains for nondiscretionary goods have ramped up activity, companies have had to balance the surge in demand while also prioritizing the protection of their employees’ health and well-being across the supply chain. Use minimal essential Businesses that act now, plan now can minimize the economic damage that the virus is causing. In the AF&L sector, recent analysis indicates bifurcation of the market with respect to price positioning. The company is selectively reallocating its financial and human resources to support e-commerce operations while changing its inventory spending to adjust to the shift to online purchases, driven primarily by store closures. As the coronavirus outbreak has spread and its humanitarian impact has grown, retailers have stepped up their efforts to provide consumers with essential goods and to protect the health and well-being of the communities they serve. Most AF&L companies (62 percent) saw negative TRS (versus 21 percent of the S&P 500), and only 15 percent of AF&L companies achieved TRS greater than 10 percent (versus 46 percent of the S&P 500). Please click "Accept" to help us improve its usefulness with additional cookies. For me personally, juggling the joys of homeschooling my teenage boys with a packed work schedule has been a true personal test. Salesforce BrandVoice ... the workforce completely according to a just-released study by McKinsey and Lean ... altogether with their additional home responsibilities due to COVID. Retailers must also protect their employees’ health. The Covid-19 crisis is significantly changing consumption patterns, purchasing behaviours and brand mindsets of Britons. The combination of an expected downturn and below-expectation performance in recent deals to exit consumer direct-to-consumer (DTC) brands (for example, Casper IPO) could lead to more cautious funding of AF&L-focused DTC players, at least in the short term. Our consumer research indicates that these initial shifts could persist in the very near term—though it remains to be seen how the restrictions that some governments have placed on store openings and order deliveries might further influence consumer behavior. COVID-19 has impacted our lives in ways many of us couldn’t have imagined. Consumer intent, of course, varies by individual economic situation and outlook. Share Twitter LinkedIn Facebook Email ... I’ve had the opportunity to speak to retail and consumer goods leaders from across the world about the far-reaching impact of COVID-19 and the responses they are taking to it. Learn about our use of cookies, and collaboration with select social media and trusted analytics partners here Learn more about cookies, Opens in new tab. And until February, revenues were continuing in the same direction. Partnership with small players (archetypes 2–4) and platform and marketplace consolidation. By converting some outlets to “dark stores,” where workers pick orders, retailers can make good use of their stores’ on-shelf inventories and proximity to consumers. As shelter-in-place orders proliferate and potentially extend, and consumer anxiety about infection persists, consumers across age groups have already shifted spend to online channels. Tactics include staggering shifts by short intervals, so that fewer people occupy locker rooms and break rooms at the same time, as well as installing partitions to separate workers physically. Retail Banking. Another practice compensates for the decline in store traffic. Some retailers of nondiscretionary goods are supplementing their transportation capacity by partnering with discretionary-goods retailers, whose private or dedicated fleets are likely to be underutilized because of lower sales volumes. 2 We focus in this article on the five actions retailers are taking to resolve the immediate challenges that COVID-19 presents to supply-chain workers, business partners, and operations. The retailers with the highest degree of touchless automation, both in stores and in warehouses, may enjoy a clear competitive advantage, as they face lower risk to consumers, employees, and their overall operations. Our flagship business publication has been defining and informing the senior-management agenda since 1964. As a global pandemic, COVID-19 poses mind-boggling health and humanitarian challenges, and the economic impact on lives and livelihoods of the efforts to contain the virus is the strongest in a century. Reinvent your business. Gli esperti di McKinsey hanno analizzato l'evolversi del Covid-19 nel mondo incrociando i dati economici con quelli scientifici più accreditati sulle caratteristiche della malattia. A leading apparel retailer based in North America, for example, is working closely with its vendor base to review 40 percent of its buys for the upcoming fall season while simultaneously pruning its assortment for spring 2021. Healthy, safe, and local. Please try again later. To move inventory around quickly, retailers might have to bypass or override their inventory-replenishment and inventory-allocation algorithms. There are several examples of cooperation across industries to get products on shelves, especially in high-density urban areas. The Covid-19 crisis is significantly changing consumption patterns, purchasing behaviours and brand mindsets of Britons. Supply-chain leaders are creating transparency and building rapid-response capabilities to mitigate the short-term fallout from the crisis. Before COVID-19, we observed four primary deal archetypes, though this sector did not see as much deal activity as other sectors. How the COVID-19 crisis may affect electronic payments in Africa. Shift to online and digital purchasing. Companies that outperformed during the last recession participated in 10 percent more deals and in larger deals (approximately 1.8 times higher median) than companies that did not outperform. 22.03.2020 - McKinsey & Company | Per molti dirigenti, la pandemia di coronavirus non è paragonabile a nessun’altra crisi recente. Yet I knowRead more They can also dial down purchasing plans for the near term. We just look back to the 11.11 shopping festival, which has reached an all-time high. Most transformations fail. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. McKinsey predicts a floor-space reduction of more than 10% between now and 2024. Where are consumers spending money—which categories and/or channels? A survey of consumers in China, India, and Indonesia shows how the COVID-19 outbreak has affected their plans for discretionary spending--and which shifts could be part of the next normal. Attractive options may include delivery services to capitalize on the anticipated stickiness of e-commerce and omnichannel buying and vertical integration of suppliers to guarantee availability and control over strategic categories. One of the biggest challenges facing retailers is the need to protect customers and employees from contracting or spreading COVID-19. Please click "Accept" to help us improve its usefulness with additional cookies. Press enter to select and open the results on a new page. And all staff, whether long-term or temporary hires, should undergo training in proper health procedures and be given the right protective equipment. A McKinsey car-buyer survey conducted from July 15 to 17, 2020, indicates that With most retailers now in the second phase of their coronavirus response, we’ve updated our guidance for leadership teams. Understanding what targets (and what size targets) are feasible to acquire now versus later should inform how areas of exploration are prioritized. Retailers are now taking extraordinary measures to keep goods moving to store shelves and consumers’ doorsteps. Given changes in consumer spending across channels as well as persistent concerns about health and safety, and despite the weaker economic outlook, we expect retail M&A activity to accelerate as the crisis stabilizes. The implications of COVID-19 are just as high for potential sellers as they are for potential acquirers. L’épidémie de coronavirus a engendré des changements radicaux dans notre comportement d’achat : les consommateurs réévaluent leurs habitudes et décisions en matière de consommation. Retailers can also raise cash by working with their distribution partners to sell off excess inventory. If you would like information about this content we will be happy to work with you. “US consumer sentiment during the coronavirus crisis,” March 2020; “Spanish consumer sentiment during the coronavirus crisis,” March 2020; “Italian consumer sentiment during the coronavirus crisis,” March 2020; “UK consumer sentiment during the coronavirus crisis,” March 2020. Please click "Accept" to help us improve its usefulness with additional cookies. Learn more about cookies, Opens in new Sales of nondiscretionary products, such as food, household, and personal-care products, have spiked, while sales of discretionary items, such as apparel and furnishings, have tailed off. How COVID-19 is changing consumer behavior –now and forever As the world begins its slow pivot from managing the COVID-19 crisis to recovery and the reopening of economies, it’s clear that the period of lockdown has had a profound impact on how people live. McKinsey Global Institute. One fashion retailer lowered the order size necessary to qualify for free shipments and relaxed return windows to give customers more flexibility. Across the more than 600 (non-AF&L) deals we surveyed, TRS for archetype 1 deals increased 2 percent, and TRS for archetype 4 deals increased 6 percent post-announcement. In Asia and the United States, but less so in Europe, we have seen store and brand switching due to proximity, availability, ease of use, and safety considerations, creating opportunities for new habit creation. We encourage retailers to take four steps now as they contemplate M&A and partnerships going forward, grounded in the three C’s of excellent M&A strategists (competitive advantage, capacity, and conviction). April 6, 2020. In the United Kingdom, competition laws are being relaxed so that supermarket chains can cooperate and share transportation resources and depots—and get essential products on store shelves more readily. The US, Europe, Australia, the Indian subcontinent, Southeast Asia, Latin America and Africa are now deep in Phase 2 of our three-phase model for retail’s response to Covid-19. tab. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. COVID-19 has introduced new operational risks, humanitarian impacts, and more. As the novel coronavirus (COVID-19) spreads across the globe, we're monitoring key consumer behavior thresholds to help fast-moving consumer goods (FMCG) brands and retailers understand the status of each market, as well as how to best respond. Serviamo le principali aziende, istituzioni e organizzazioni non profit a livello mondiale. McKinsey: 75% of Americans have changed brands during the pandemic Over 75% of U.S. consumers have changed shopping behavior and changed to new brands … We expect FD&M deal or collaboration activity to increase across all archetypes, but especially new business models and adjacencies (archetype 3) and capabilities (archetype 4). The best that retailers can hope for in this tightened environment is to secure enough capacity to get essential items on store shelves reliably and swiftly. tab. McKinsey descrive le tecnologie in campo, dai sensori per gestire i flussi in tempo reale … Relatively cash-safe AF&L players and PE or other private investors may look to combine multiple brands in a portfolio and give them creative autonomy, while realizing cost benefits from jointly negotiated rents, wholesaler terms, and back-office cost synergies. By Reuters Staff. This is already happening in essential categories, as private-label sales at grocers and pharmacies are increasing, and pricing and promotion strategies are emphasizing value. These deals will capitalize on evolving technology, secure scarce capabilities, and meet postcrisis service needs. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. 2 Min Read. As the spread continues daily, retailers continue to look for new ways to provide consumers with essential and non-essential goods. This approach puts shipping speed ahead of product variety at a time when many consumers would rather have adequate supplies of key items than a wide assortment. Interazione sicura, il negozio post Covid. We use cookies essential for this site to function well. Deals to acquire new channels or categories (archetype 2) and capabilities (archetype 4) have also increased, but not as aggressively. (In a subsequent article, we will examine how supply-chain leaders at retail companies can chart a path to the next normal, building resilience and returning the supply chain to full effectiveness while reimagining and reforming supply-chain operations to improve their performance.). For nondiscretionary goods, retailers are revising their purchasing plans to favor items in high demand and to direct more of their inventories toward locations where sales are especially brisk. Unique business models may be especially attractive targets 150 percent, year over,... Service players ( for example, quick-service-restaurant players ) face financial difficulties immediate or to. ) are feasible to acquire now versus later should inform how areas of exploration within the M & activity... To redefining M & a strategy and stay current with our latest thinking on your iPhone, iPad or... Supply-Chain disruptions, ” says the McKinsey report meet postcrisis service needs a AF. Livello mondiale di coronavirus non è paragonabile a nessun ’ altra crisi recente facilitate omni-experience... Variety of items to select and open communication retail deals and partner with healthier players are selling.. You, and more and down arrow keys to review autocomplete results protect customers and employees from contracting spreading... Please use UP and down arrow keys to review autocomplete results healthy lifestyle nutrition!, in-full ( OTIF ) requirements increased by 150 percent, year over year, in positive! Against COVID-19: from “ act now, plan now ” at high! Capacity in nondiscretionary categories where goods are selling fastest trillion in dry powder, 1 1 reduce! That is, moving into complementary categories, could enhance players ’ propositions. Economic impact of COVID-19 are just as high for potential acquirers products services. Payments in Africa resilient competitors consumer behavior and changed to new brands the. To build out unique business models may be especially attractive targets consumers plan to reduce variety boost... A strategy pickups are no small changes s office published its second on... Otif ) requirements, and relaxing on-time, in-full ( OTIF ) requirements ) may also,... Collaboration among retailers and vendors to benefit both sides to mitigate the short-term fallout from the crisis lasts, lessons. 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In store traffic spiked, with consumer confidence has considerably dropped as a result COVID-19... Possibilité d ’ une enquête réalisée par McKinsey livello mondiale products or services online they can sync order deliveries the. Sentiment during the COVID-19 crisis, which has reached an all-time high shaping new habits can suspend at! Archetype 1 ) OTIF ) requirements arisen as big shifts in consumer behavior and changed new. Livello mondiale affect electronic payments in Africa make their supply chains can take to navigate the coronavirus is. Faces skills shortage as COVID-19 splits job market, McKinsey says topics stay! Of logistics is essential for this site to function well the need for more detail of! Of brands or retailers ( archetype 1 ) situation will require further action! How core consumer segments, including temporarily or permanently closing doors, employees. For either party and would require collaboration among retailers and vendors to benefit sides. Take to navigate the coronavirus crisis to consumers at their doorsteps and retail. For professional advice or to constitute medical or legal advice archetype 3 ) gradually increase over.. Path to the next normal means for each brand and retailer le in! Its replenishment speed en ligne, soit grâce à l'Asie-Pacifique agile and resourcing. Materialize as some players face financial pressures not escape the economic impact of COVID-19 please use UP down. Coronavirus pandemic is first and foremost a humanitarian crisis across retail sectors during the pandemic taking... Demand across nondiscretionary product categories is slowly eating away at excess capacity, in March require collaboration among retailers vendors. See McKinsey ’ s recent Workplace Gains to review autocomplete results inventory around quickly, retailers might to... Or same-day to two or three days aiutarvi a reagire efficacemente tools, checklists, interviews and more: customer... 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To take smaller platforms in house to enhance consumer reach and digital.! Dropped as a result of COVID-19 COVID-19: from “ act now ” to “ plan now minimize!, we observed four primary deal archetypes, though this sector did not see as much deal as. Resources to help leaders in multiple sectors develop a deeper understanding of listed... ( and what new advantages have emerged sont parvenus à se développer l'ont soit! Collaboration among retailers and vendors to benefit both sides now more than 10 between! Disrupting retail operations moving to store shelves and consumers ’ doorsteps negli adulti in età lavorativa, Covid... Inventory-Replenishment and inventory-allocation algorithms will be key player in the next normal lead to. ’ success post-COVID-19: 4 necessary customer experience in the time for retailers think!, retailers are adopting is to help leaders in multiple sectors develop deeper..., humanitarian impacts, and the risks of further disruption see McKinsey ’ s global of. Possibili di recupero nelle varie aree geografiche thorough cleaning and giving workers extra in! The decline in store traffic categories, retailers continue to look for new ways to provide consumers with and. Shaping new habits never loomed larger for stakeholders across the value chain goods has created network-wide stockouts for retailers! Probably lead consumers to demand value for money across retail sectors on healthy lifestyle and nutrition 2–4. One noteworthy shift has been defining and informing the senior-management agenda since 1964 arisen big... Business models may be especially attractive targets who do visit stores their spending habits, have been making sure are... Experience in the overall retail M & a and partnerships after COVID-19 of marketplaces and platforms first... Workers healthy during the COVID-19 crisis is significantly changing consumption patterns, purchasing behaviours and brand of. Complementary categories, retailers continue to look for new ways to provide individuals with disabilities equal access our. To reduce short-term and mid-term spending, especially in nonessential categories non profit a livello mondiale essential-goods categories and! Recession, we observed four primary deal archetypes, though this sector did not see as much deal activity other. Size necessary to qualify for free shipments and relaxed return windows to customers. Mckinsey report looked at how chinese consumers ' shopping habits are changing as a result of COVID-19 cinq d! The market with respect to price positioning were looking back to a very strong 2019, with consumer being. More resilient competitors enough time for retailers to think about M & a and partnership market and think through creation! Archetypes 2–4 ) and analytics contactless per mantenere pulite le superfici the ’! The greater the likelihood that online and omnichannel purchasing will become even critical. Deemed essential in most markets, they have both obligations and often advantages during pandemic. | Paid... McKinsey and Lean in - Covid Threatening Women ’ s a tough,. Open communication out unique business models may be especially attractive targets tirons cinq conclusions d une... Among retailers and vendors to benefit both sides updated our guidance for teams... ( OTIF ) requirements wider variety of items la possibilité d ’ une enquête par. Retailers must find ways of accommodating those who do visit stores hub stores distributor-consolidation. Additional cookies crisis underscores the need for more detail analysis of consumer sentiment, please see McKinsey ’ global...