Post Covid-19 Retail - Part 1

April 07, 2020

In this blog post, we will be looking at some of the long-term effects to anticipate once the stores re-open. With normal life coming to a rapid stop, is important to remember that this pandemic will come to an end and normal life will return. When it does, it is very likely that the following aspects of retail will change.

STORE SANITATION WILL BECOME A CORE KPI

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It is hard to imagine a reality in which store sanitation does not become a yard stick upon which store operations are measured. The virality of COVID-19 has compelled retailers to adopt strict measures to stop the spread. Although some measures may not survive post-COVID retail; initiatives such as hand sanitation upon entry into a store may be feasible and could have a huge impact on store sanitation.

HUNGER FOR HEALTH

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Health and wellness have been on the rise for a long time. However, in a situation where people are compelled to seriously consider their own health, these products and services will emerge from this disruption in a big fashion. In recent weeks we have seen avid gym-goers turn to online home workouts and it is highly likely that this hunger for health will continue.

MORE AUTOMATED STORES

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Love it or hate it, automated stores are the future and the outbreak of COVID-19 has created a great use case for more automation in stores. Whilst there is a need to limit close contact between people it is likely that the more retailers will look to self-service ordering, self-checkout, and scan-and-go technology.

IN-STORE ANALYTICS IS NO LONGER A VITAMIN PILL

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A comprehensive retail analytics system is no longer a vitamin pill or a nice thing to have. For the foreseeable future, retaining market share and market position is the top priority. Retailers are dealing with the immense challenge of rebuilding their sales pipeline, whilst seeking to take the most profitable key decisions to retain market share. Managers can quickly go into panic mode and implement a range of initiatives and programs that deliver little value to the business. Retail Analytics is a pain a pill that will inform the decisions that are most likely to help on the road to recovery.

If you would like to learn how you can transform your existing security cameras into tools for retail analytics get in touch with us via hello@auravision.ai.

We have also launched a COVID-19 Global Lockdown Tracker to help you track the progress of lockdowns across the globe as they unfold.