At least one analyst believes that 2021 will be a major reckoning for retail. Huge changes are afoot, and everyone will be affected: Retailers, suppliers, and consumers alike.
“With every great party comes the hangover – and this will be retail’s Great Reckoning. Just making it to the party phase isn’t going to be enough to offset the pummeling that much of retail took over the last year. However, with the right plan, retailers can navigate the Great Reckoning to a stronger future. But as with any reckoning this big, it means retailers must take a long hard look in the mirror and finally face what is needed to be ready for the omnichannel future that the pandemic has dropped on retail’s doorstep.”
P.S. 2021 will bring another set of sea-changes to retail. 8th & Walton experts stand ready to assist your supplier business at this time. We also offer web-based classes that can get you, and your staff, up to speed.