The Surprising Resilience of Emerging-Market Consumers
Although anxiety over health and finances is high, attitudes remain surprisingly resilient. And some behavioral changes—including greater use of digital commerce and tools—are sticking.
Although anxiety over health and finances is high, attitudes remain surprisingly resilient. And some behavioral changes—including greater use of digital commerce and tools—are sticking.
Companies have made dramatic changes to stay afloat. But they must go further, refocusing on longer-term actions that will carry them through the pandemic.
The COVID-19 pandemic is radically transforming grocery retail business models. Winning companies will be best at distinguishing permanent trends from those that are temporary.
To reopen safely and profitably, stores should take a holistic approach that includes a long-term strategy, a dedicated team, and a rollout plan that they can adapt quickly in response to initial outcomes.
Many retailers are in the process of reopening their doors to a changed world. The COVID-19 pandemic has altered what consumers are looking for and has driven an even more radical shift in how they shop to meet those demands. Moreover, as consumers worry about their health and the prospect of a prolonged economic downturn, a return to pre-pandemic levels of shopping and spending is far from guaranteed. For retailers, this raises a daunting question: how can they reignite consumer demand in a way that reflects the new reality?
How a Lighthouse capability can help companies navigate the uncertainty.
The pandemic has accelerated consumer shifts in six months that otherwise would have taken five years. Many of the changes will stick.
Many early-stage digitization efforts haven’t led to lasting gains. At a time of relentless financial pressure, retailers can supercharge their progress by zeroing in on five critical areas.
New technologies can lure consumers back to stores with experiences they can’t get online. Here’s how retailers can ensure a fast, effective rollout.
The beauty industry is already using AR to give customers an immersive and wholly personalized experience. Other consumer categories need to get on board.
Avoiding empty store shelves in the COVID-19 trade environment is the greatest challenge food retailers have faced in decades.
Customers expect a personalized shopping experience. All retailers—even leaders—must advance their capabilities to deliver it.
COVID-19 and the New Leadership Agenda
The COVID-19 outbreak underscores the need to be resilient in the face of transformative global risk.
Giving the customer infinite pathways, omnichannel is the new frontier in shopping. This first video in BCG’s series on the future of retail takes us to China to learn how customers and retailers both benefit.
Consumer and investor pressure is not going away. Companies must double down on sustainability as they emerge from the COVID-19 crisis.
The US−China trade deal leaves in place tariffs that add $31 billion in costs for US retailers. But there are ways to mitigate the hit.
Chinese Consumers and the Digital Economy
China represents one of the biggest retail opportunities in the world. To seize it, companies must understand the digital and economic trends that are driving Chinese consumers.
Brands should take stock of the preowned boom and what matters most to the people behind it.
Recovery from the COVID-19 crisis requires a radical business redesign. Brands must cut operating costs, boost e-commerce, and invest for the future.
Stakeholders and consumers agree: New York Fashion Week—and the entire fashion industry—must become more sustainable. The pandemic slowdown may be the perfect opportunity.
Companies that make sustainability a priority will gain a durable business advantage, and rebuild a stronger fashion industry after COVID-19.
Facing a disrupted consumer environment, F&L brands need to likewise disrupt their usual approach, by planning sales strategies more than a year in advance.
Our changing times and changing consumer attitudes are redefining “luxury,” pushing brands to rethink every aspect of their business.
Companies need to act now to mitigate the damage to sales from the pandemic, including minimizing costs and shifting to e-commerce.
International businesses are missing out by underestimating Africans, making costly assumptions about diversity, preferences, and buying power. BCG Consultant Nomava Zanazo shares what companies need to know to succeed on the continent.
A customer-centric transformation can help grocers cut waste by up to 30%, freeing resources for reinvestment in price, service, customer experience, and other competitive advantages.
Amazon’s purchase of Whole Foods was a shot across the bow. To compete with e-commerce players, established retailers must improve their value proposition, their internal operations, and the customer experience.
