The e-commerce tsunami formed by the pandemic earthquake shook both consumers and companies to a new transaction reality. Although recent growth already hinted at the need for all players to adapt and excel in the online environment, the rapid developments of the pandemic represented a hard landing for those players that took their time to act, with many struggling to fulfil consumers' needs and expectations.
COVID-19 pandemic has accelerated changes in employees’ work preferences and employers’ attitudes towards remote working. While during strict quarantines companies were forced to enter remote working, many are planning to retain teleworking options for their employees, expand investments into communications and IT solutions facilitating successful remote and hybrid work models.
This episode is part of a series we have recently started, that explores how hybrid working has impacted several industries in Western Europe. This is the second episode in the series. We will focus on how retailers in the food and nutrition space are responding to this recent change in working patterns, in terms of retailing, product assortment and distribution.
Consumers are approaching a return to pre-pandemic life in different ways based on their comfort levels. Certain consumers are eager, whilst others are hesitant, to resume their normal activities, creating The Socialisation Paradox. This impacts a range of industries, from travel, food service, alcoholic drinks and home. Some consumers will continue to invest in making their home a sanctuary, while others will seek hedonistic endeavors. For some, foreign travel is an exciting prospect, while anxiety of others continues to buoy domestic tourism.
The global economy faces new headwinds following the Russian invasion of Ukraine in February 2022, while the COVID-19 pandemic is not yet over. The war in Ukraine and its resulting sanctions imposed on Russia are projected to cause accelerated energy and commodity prices, further disruptions in global supply chains and reduced business and consumer confidence.
Historically, urbanisation drove snackification. Convenience and portability were key due to time pressures and a growing on-demand culture. Two years following the onset of the Coronavirus (COVID-19) pandemic, digitalisation and technology have become key elements, whilst premiumisation has been negatively affected by the economic costs of the pandemic. Lastly, health priorities have gained importance, offering innovation opportunities.
The apparel and footwear industry was among the worst hit by the COVID-19 pandemic, but just as recovery was taking place faster than expected, the industry is now facing more turbulences around the fast-moving uncertainty in Ukraine, galloping inflation rates, which mean rising production costs, further supply chain woes, not to mention weakened consumer spending.