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Retail Reset

A Virtual Forum Addressing COVID-19 Recovery Strategies

How ‘Essential’ Business Strategies Can Help ‘Non-Essential’s Pivot

Greg Buzek on Retail Reset

IHL’s Greg Buzek shares insights on some businesses categorized as “Essential” which have set good examples for others, such as Chic Fil-A, Speedway and Costco. These companies have created more convenient pickup options, better managed the supply chain, and replenished their inventory with high-demand items. The crisis has changed go-forward businesses moving forward. Buzek noted several questions retailers should be asking, such as: How do we handle returns? How do we manage orders in the supply chain? Are we now more store-forward vs. warehouse dependent? Do I want to be in a mall where I don’t have control to get in the door? “It’s an opportunity to shift from traditional way of doing things, change the culture and break down barriers that have been holding you back,” he noted.

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