Please visit the COVID-19 response page for resources and advice on managing through the crisis today and beyond.
How will Fay shop in the future? How will COVID-19 impact your industry and what role should your company play to stay relevant for the next generation?
DOWNLOAD THE MAGAZINETo cope with the coronavirus pandemic, consumer goods and retail organizations need a holistic supply chain strategy. Together with a digital foundation, this helps anticipate disruptions and provides proactive recommendations to keep pace with the fluctuating demand and fulfillment cycle.
In this Special Report the team from Cognizant’s Center for the Future of Work consider what the world will look in 2023 – a period far enough away for the implications of the virus to have materially changed things, but not so far away that pure idle speculation reigns supreme.
Retail has a long history of relying on mass channels and traditional thinking about value creation for consumers. When it comes to innovation, the industry has mainly pursued new initiatives within the boundaries of past success, opting for short-term thinking rather than a futuristic focus.
We have started the conversation with the next generations, how they view the future and how they think your organization will stay relevant in their lives.
To help improve brand engagement, high street retailers should not treat consumers as ‘shoppers’ but instead learn more about how individuals consume life. Discover how Cognizant studies the lives of consumers, and analyses changes in shopping behaviour to help retailers deliver improved customer experiences. This aligns with the changing face of consumption and purchasing patterns.
Customers don’t like being treated like numbers. They want retailers to know them and treat them as individuals. That desire to connect will pay big dividends for retailers: More than half of shoppers agree they’re likely to spend more time and establish loyalty with retailers they feel understand them.
Distributed ledger technology solutions enable fashion brands and retailers to improve supply-chain visibility across their diverse ecosystems, helping them to communicate product provenance to partners and customers, as well as mitigate environmental and reputational risk.
By increasing the metadata transparency, retailers can help consumers make more informed purchase decisions – and compete more effectively with digital pure plays. Here’s how they can accomplish this goal, using machine learning and deep learning techniques
Maximize customer service and profits and meet changing demands amid increased competition and complex supply chains.
Optimize merchandising, increase supply chain efficiency and generate product mix forecasts for better retention.
Adjust prices, fine-tune inventory planning and deploy next generation point of sale systems to enhance the customer experience.
Embrace the future of shopping by delivering concepts and solutions for in-store selling through social networks.
Solutions to improve sourcing strategies, elevate label management, optimize pricing, improve commerce and boost business effectiveness.
Foster innovation, decrease time to market and create more powerful brands with our industry experience and digital techniques.
We help you drive innovation in the fast‑paced global electronics industry, from product design to customer delivery.
Respond to changing consumer, supply chain and technology dynamics by leveraging Cognizant’s digital experience.
Overcome product commoditization, spiraling R&D budgets and ever‑changing consumer demographics with insight and innovation.