A couple of interesting points for me in this article focusing on how hospitality and retail are fighting back.
The first point is the hospitality Covid surcharge that some restaurants in the US are now charging. We see it here on public holidays and it is an accepted practice to subsidise premium wage rates, will we see it here to subsidise Covid logistics? I suspect we will in some form, as once operating again restaurants will likely need to halve their seating plans, and thus their revenue for some time to come.
The second point that interested me was the notion of ‘survival’ retailers. The retailers that have actively invested time and resources into planning for the new post-Covid realities. The use of store space and it’s link to social distancing is mentioned here which is relevant, but ‘survival’ retailing is of course far more complex than space alone.
To fight back and win post-Covid, retail ‘survival’ requires a re-write of the entire retail playbook. Everything that was accepted practice must be challenged, scrutinised and where necessary, quickly discarded or adapted. Its a time to be bold and innovative and not a time to bury your head in the sand.
View the article below: