As the second wave of COVID-19 hits Canada, the future of retail remains plagued by uncertainty. Here are some key updates from this week in retail:
The Canadian government announces an extension of the Canadian Emergency Wage Subsidy. Retail remains highly dependent on public confidence and experts suggest a “surgical, tailored” approach over universal programs pioneered earlier this year. Full rundown of the Speech From The Throne, as well as key factors of note to retailers.
As the second wave of COVID 19 hits parts of Canada, retailers have started stockpiling key, in-demand pandemic staples. Supply chain consolidation, and optimized inventory management remain more relevant than ever moving forward.
Amazon looks to encourage a surge in Q4 sales with a focus on small businesses and easily accessible gift shopping. Walmart and Target now offer stiff competition with coinciding sales events. While this strategy has yielded mixed results in the past, Amazon’s eroded market share this year highlights the importance of fast delivery and flexible pickup for ecommerce platforms.
Walmart pioneers the anti-experiential approach to in-store retail this fall, consolidating products and pushing “seamless” in-store and digital shopping integration. As retail re-envisions itself to allow consumers to get in and out of stores as quickly as possible, navigational efficiency becomes an unlikely priority.
TPG’s Top Picks is a weekly column of curated, industry-specific trends. We will focus on a new industry every week, and offer you the latest developments in a quick, digestible post.