The Only Constant is Change
Change. It’s constantly redefining our retail landscape, whether triggered by technology innovations, cultural shifts, or world events. Organizations have always understood and planned for change, putting continuity and recovery plans in place to help them return to “normal” operations as soon as possible.
But what made the coronavirus pandemic so different? Organizations were faced with changes so large, so fast, and so many, there was no “normal” to return to.
In some cases, businesses saw existing trends suddenly accelerate. In early 2020 and into 2021, for example, there was a massive increase in their remote workforce, and a subsequent exponential increase in security concerns. And in other cases, organizations saw new dynamics appear, such as the need to re-examine workplaces and evolve business models to balance worker and customer engagement with personal safety.
In the retail sector, customer behaviors changed virtually overnight, and retail operators were forced to radically change many of their products, customer experiences, and delivery models. Customers became so accustomed to this new way of shopping, so quickly, that many now expect this will be the “new normal” going forward.
Looking forward, even as the world emerges from this pandemic, there is every reason to assume that there will be other business outliers that will emerge. Each year, the business community—and the global population—faces increased risks from:
further large-scale health crises and pandemics;
climate change, potentially resulting in increased natural disasters as well as climate refugees and extensive global climate migration;
changing levels of urbanization, immigration, and population;
increased data security breaches as a result of the global digital revolution;
and many more major local, national, and world events that are impossible to predict.
In this whitepaper, we examine how telecom retailers can prepare themselves for the unknown, and create resilience in their business by being agile and adaptable.