For Bacardi, “For us this is part of our larger, long-term strategy," said Lorran Brown Cosby, vp of digital commerce at Bacardi North America.
Longevity in the coming year will require “re-imagining at home consumption,” said COO Brian Smith, with restaurants and hospitality down at the moment. Here are some takeaways about how the wine brand has strategized in this current economic climate.
Poshmark CEO Manish Chandra said Posh Stories, its version of the short video format, is expected to replicate the success that social shopping has achieved in markets like China.
Freshly for Business launched this week to provide employer-subsidized meal delivery for remote office workers. CEO Michael Wystrach thinks "many employees would rather get free meals instead of a desk," which can push the service to grow long past the pandemic.
Like other delivery-related trends, text-to-order may finally see mainstream adoption. "Every brand will have a website to feature products and phone numbers for customer service and transactions,” Iris Nova's Zak Normandin said.
Unlike most grocery retailers, the membership wall makes it harder for Thrive Market to tap into the current demand for Thrive Market. "Those coming in aren’t just looking for a short term delivery solution," said CEO Nick Green.
"Focus on storytelling right now," said Higgins. “DTC is predicated on having a one-to-one interaction," with the customer that can't be emulated if there is a middleman.
Growing coalitions between brands via community and content is one bet for them to survive. During the pandemic, they're "banding together to weather the storm."
Former ad exec Wiener said that with many brands, it’s not so much changing what they were doing but doing it faster. "It’s not going to be an evolutionary change, but revolutionary."
Micro-fulfillment solutions company Takeoff Technologies’ has seen a surge in grocery clients' orders. Chief business officer Curt Avallone explained how the company is solving the last mile problem and why major supermarket chains are getting on board with delivery.
It's impossible to predict the future, but Vuori senior director of retail Catherine Pike thinks "huge advancements in brick and mortar retail" are coming now that brands are out of their comfort zone.
This quarantine period could prove to be a winning factor in the virtual fitness category. Startups in the space, including Mirror, Tonal among others, are doubling down on the timely trend by introducing new digital products.
As more people experience financial difficulties and become in need of interest-free finances, alternative e-commerce payment methods are seeing bigger interest than ever in America.
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