eCommerce Transformation and Retail Disruption in the Wake of COVID-19 | Recap
By John Kunschner
Earlier today, I had the pleasure of hosting a virtual panel-style debate with industry experts Janie Yu (Partner at Fung Capital) and Chad Annis (Chief Executive Officer at Market Defense) – see the recording here.
The discussion kicked off with a big picture question: How are retailers, retail-tech, brands, and eCommerce players looking to adapt, innovate and invest to adjust to changing consumer behavior and a rapid acceleration of online commerce during COVID-19, which we also believe will leave major, lasting impacts on the industry.
To get to the heart of the matter, we debated the following points:
• What specific COVID-19 crisis-related tailwinds are impacting your immediate focus / strategies?
• Do you expect the acceleration of certain ecommerce categories to continue or are these temporary, herd driven trends that will migrate back to prior patterns?
• What will consumer behavior and buying patterns look like post COVID-19, and how best do brands and retailers serve these customers?
• What impact will the current market challenges and restrictions have on major retailers, department stores, top tier brands – what will retail look like when we emerge from the crisis?
• In an increasingly online market, what technology elements & digital tools will drive success for retailers & brands?
• What changes are needed within the logistics & fulfillment aspects of ecommerce to adapt to the new demands and market trends?
• How will the current trends impact your investment themes/preferences or business development strategies in the future?
The rapid acceleration in consumer adoption of eCommerce across all segments as well as retail dislocation has increased visibility of retailer’s under-investment in the supply chain and a weakness in data tools to monitor what is in their stores/warehouses.
Finally, Janie and Chad discussed trends they are seeing in the market and the importance of evaluating what the consumer behavior is going to look like in a post COVID world. The rapid acceleration in consumer adoption of eCommerce across all segments as well as retail dislocation has increased visibility of retailer’s under-investment in the supply chain and a weakness in data tools to monitor what is in their stores/warehouses. The panel touched on the importance of brand’s relationships with their consumers across channels (and why Big Brands will likely fare better) and how large channel players like Amazon and Walmart have bolstered their capabilities in different ways (and why Amazon’s 50% online market share and existing infrastructure are such an insurmountable advantage).
Leveraging our deep network to keep us all connected, Landmark Ventures, a leading investment bank, events platform, and corporate advisory firm, will be hosting an ongoing series of digital events featuring renowned thought leaders in industries ranging from cybersecurity and industrial tech to digital marketing and social impact. To learn more about our digital series as either an attendee or partner or for an industry trend’s briefing, please contact me – firstname.lastname@example.org
And in case you missed it, check out the recording!