January 1312:00 pm–12:30 pm
Is this the next Great Depression or is this The Great Compression? Ecommerce was 15% of all commerce prior to the pandemic. It then soared to close to 50%. Where will it land? Does that matter? Probably not. The Great Compression is our new reality: during the short span of a few months, consumer's buying behavior fundamentally shifted. Physical retail stores are now forced to think less about the "experience" and more about how to get consumers to transact. DTC and online retailers are now forced to think about not just getting consumer's to buy, but how to build a better shopping experience. We have everyone from pre-K children to our most elderly now fully-digitized, online and ordering. How do retailers rethink many of their commonly held beliefs about what works in commerce today, and what the future may look like? Welcome to The Great Compression.