Feature image: By 2026, $700 billion in annual spend, or 41%, is expected to shift away from traditional grocery. And much of that spend may go into online, supercenters, club and discount channels. Pick your retail partners carefully, as there will be a tremendous amount of disruption, especially in grocery. This visual and additional content about it is contained in the Visual Dataset.
Platform Updates Summary
There is significant dislocation that hit this week in the U.S. with the COVID-19 virus. I am feeling those effects in a big way with several of my businesses and projects. Effects vary from person to person and business to business, but here’s a few things I am doing to help manage and learn from this event.
Patience and understanding
Everyone is under stress and strain and managing as best as they can. And it is not just work stress, but personal stress associated with things like having to work from home, managing kids out of school or trying to shop for groceries and other essentials when stores are cleaned out and there are lines to get in.
Realize that things may grind to a halt with my businesses for a time here, which may be followed by pains on restarting things and getting back to normal.
Don’t let this pain go to waste
What can I learn from this event to better prepare for the future? I have a few risk analysis tools and frameworks to help think through risks like COVID-19 in Section 1 of University. .
Are there opportunities being created that I can take advantage of?
Customer Behavior Changes
Might this event change my customers or target market behavior for which I need to adjust?
Data-Driven Retail Growth Strategy
I have a workflow posted to which I want to draw people’s attention. It is a way to think about growing in retail based on geographic data. See it here.
I created a new category on Inspiration and added posts.
- People will forget what you said people will forget what you did but people will never forget how you made them feel
- On persistence and luck
- Consumption leads to thoughts leads to action – make better consumption choices
- All the good stuff happens when we act even if we don’t know for sure
Basecamp InQb8r Platform
Basecamp InQb8r members must be logged in to access the links below.
All updates are recorded in the Changelog:
- Section 7, Resellers: Evolution of Retail – added to this section with retail observations and impact on growth strategy
- Sock company (apparel) COGS data
- Cross-border ecommerce
- Weighted blankets (bedding) ROAS metric (2020)
Data Platform Updates
- We are continually adding in new records based on our research.
See Calendar for details.
- Open office hours scheduled as follows:
- Thursday, March 26, 10:00 am.
Other Items Worth Sharing
The following visuals and additional content about them are contained in the Visual Dataset