These measures can help retailers thrive in uncertain times.
This article shares some strategies used by direct-to-consumer (DTC) companies that could be beneficial to brands across categories. To be able to withstand disruption, companies must own their infrastructure, experience and customer relationships.
Owning infrastructure could mean automating efficiencies, applying multi-tier distribution and being operationally responsive to serve consumer needs. To be able to own the experience, brands must offer expertise at every stage, shift stores from sales to service and develop complimentary offerings and resources to cater to a broader audience.
Owning customer relationships would require leveraging AI to understand personal data that can power one-to-one relationships. Further, trusted members and loyal fans must be invited to share their feedback on products and services. Offering connected services and rewards is also recommended.
[3 minute read]