On Thursday 25th of March, Abacus employees, Michele Masnaghetti, VP of Analytics and Ben Collier, Business Development Director took to the virtual stage at Epsilon Abacus Insights Day to review the Home Shopping Trends in 2020 which includes unique insights into the 2020 multi-channel retail market compiled from transactional data provided by the Epsilon Abacus Database.
We were also joined by futurist and Retail Analyst Kate Ancketill from GDR Creative Intelligence to discuss Retail’s hard reset: How cataclysmic events accelerate trends, transformation and innovation.
Kate outlined how retail can bounce back stronger from the cataclysmic events of 2020. She argues that the combination of the pandemic experience, the climate emergency and significant geopolitical events has given us the impetus to make the fundamental changes needed to future-proof our businesses.
Kate highlighted the pure players and physical retailers who have pivoted very successfully during the pandemic, and posits that the “hard reset” innovations that make sense for the three Ps – People, Profit and Planet – will be the ones that are here to stay. Kate goes on to state the five key ways that physical retailers should be approaching their own hard reset, before revealing five essential changes they can implement right now.
Kate closed her keynote by looking a bit further into the future to discuss the implications of the smart city and the opportunities that technologies like 5G and automation will create for retail.
The session ended with a panel discussion, speaking to brands like Beer52, Moshulu and Charles Tyrwhitt and we received some great Insight into customer engagement, strategies to focus on in 2021 and how they had the courage to build on challenges faced during the past year that will reshape their businesses going forward.
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