Retailers who attended the webinar organised by Retailers Association of India (RAI ) agreed that businesses across India will take considerable time to recover from the impact of the COVID-19 lockdown and suggested finding new opportunities and staying positive. As consumers will still be hesitant to venture out into crowded places to shop, retailers said it is a good time to develop omni-channel capabilities. Omni-channel is a cross-channel content strategy that organisations use to improve their user experience and drive better relationships with their audience across points of contact.
Members said that opportunity could simply mean a line extension, trying out a different line of business or a different way of working. It could also be in the form of new collaborations and partnerships or an opportunity to readjust the focus on consumers by getting to know them better.
All members that participated in the webinar acknowledged that businesses now need to change the way they look at competition, online and new technologies.