Your company has already faced a lot of transitions this year — probably more than you had previously thought possible. And yet, looking ahead to 2021, there are still some big transitions in store.
The question is: Will your business survive, adapt or grow?
According to Forrester’s latest report, most brands and retailers will fall into one of these three categories within the next several months:
“As they navigate the next wave(s) of the global COVID-19 pandemic in 2021, retailers, brand manufacturers and ecosystem players…will determine whether they are in survival, adaptive, or growth mode — and chart paths from there.”
Determining which of these areas your business is headed for next may require some new ways of thinking.
That’s because what you’re doing now is only part of the picture. Where you decide to focus efforts next will have a big impact on your ability to stay ahead of evolving trends. For example, if you’re currently faced with overstock and understock issues, it may be time to start looking into logistics options such as subscription buying and drop shipping.
Based on Forrester’s 2021 predictions, brands and retailers will soon be facing many decisions like these — ones that are likely to separate winners and laggards. More specifically, adapting and growing in 2021 will mean investing in new logistics, distribution and payment models.
The report covers several of the most mission-critical areas, including:
- Retail business models
- Payment methods
- Logistics issues
- Distribution strategies
If you’d like to find out which strategies are most likely to lead to success, this is one report you won’t want to miss. Read it now to begin preparing for the year ahead.