Master in Strategy and Creative Brand Management – UPF-BSM Learn to conceptualize a brand and define its creative and communication strategy. Master in Strategy and Creative Brand Management – UPF-BSM Learn to conceptualize a brand and define its creative and communication strategy. One of the trends that have marked the last decade has been that of changes in consumer habits and the eclipse of traditional store spaces. Shopping centers have been in crisis and in recent years the “retail apocalypse” has become a recurring element in analyzes of where the future is heading and how brands and companies will have to operate.
The coronavirus crisis has not been very favorable to industries that continued to operate traditional models. The confinement processes that different countries have progressively implemented have been forcing the stores to close. Only those businesses that sold essential goods, such as Cocos Islands Keelings Email List supermarkets, could continue to open and operate, although with special rules and controls. For department stores, for example, the crisis could have become the final blow. This commercialization model, which appeared in the 19th century and which had become the great route to modernity for commerce, was already in a difficult situation prior to the coronavirus crisis. The virus could be a final blow: in the United States, Macy’s recognized overwhelming losses and Neiman Marcus, who had the strongest position in the market, entered bankruptcy.
The crisis also impacted Europe. El Corte Inglés, although it opted for electronic commerce and was able to remain open in part thanks to the supermarket, has also faced a difficult situation and has worked to be more multichannel than ever. Even John Lewis, the British giant, has had to temporarily lay off tens of thousands of employees and saw sales plummet. Be that as it may, department stores will not be able to return to the starting position in this new normal and it must be taken for granted that they will be forced to accelerate their transformation. But they will not be the only ones: perhaps, the problem is much broader and touches retail in a broader way, even those players whose store infrastructure had resisted until now which faced a complex crisis in recent years, had already been the victim of an excess of presence.
He had too many physical stores, which now that consumption patterns migrated to e-commerce was being detrimental to him and what had diluted his brand too much. Other chains, with more select locations and with a stronger e-commerce presence, such as the Inditex group, did not have this problem, at least until now.