The Largest In-Person Gathering of Retailers: Best Practices for Retailers for COVID-19 & US Retail Overview
Daniel Hodges, CEO of Consumers in Motion and Founder of World Retail Forum, presented best practices for retailers for COVID-19 and the U.S. retail overview at the China International Retail Innovation Summit 2020 earlier today in Shanghai. This is the largest in-person gathering of retailers in the world. In an analysis of global best practices, the World Retail Forum offers eight factors for retail success in the age of COVID-19 which is the Consumer Engagement Index (CEI) factors.
Kevin Peng, Secretary General of the CCFA, which is the China Chain Store & Franchise Association (http://www.chinaretail.org) and organizer of the China International Retail Innovation Summit 2020, said, “The overview of the U.S. retail marketplace and success factors by Daniel Hodges was really informative to our delegates at the conference today and was very much appreciated.” In an analysis of global best practices, the World Retail Forum offers eight factors for retail success in the age of COVID-19. The China Chain Store & Franchise Association (CCFA) is the official representative of retailing & franchise industry in China. Currently, there are more than 1,000 enterprise members with over 388,000 outlets, including domestic & foreign-invested retailers, franchisers, suppliers, and relevant organizations.
The China International Retail Innovation Summit 2020 video link: https://worldretailforum.com/us-retail-overview-summer-2020/
According to the experts, the coronavirus pandemic will end at a time of its own choosing. We believe the most effective game plan is to embrace the eight rules of consumer engagement outlined below:
1. The Human Touch: The ability to empathize with customers is crucial to retail success.
2. The Use of Technology: Technology that interacts with shoppers as part of their in-store experience is now a winning strategy.
3. Store Design: The best store designs match form with function.
4. Brand Story: An engaging brand story, often traceable to a visionary founder or a particular market need, helps to cultivate customer loyalty and can often transform loyal customers into brand evangelists.
5. Employee Training: The general rule in retail is to hire for attitude and train for skill.
6. Change: The ability to capitalize on rapidly changing trends in consumer behavior is usually what distinguishes winning brands.
7. Unique Value Proposition: It should go without saying that a store offering distinctive products within a unique, focused concept is destined for success.
8. Shopper Safety: Is the number one priority today.
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