Managing Change by Retailers

“Pain is a fundamental driver of change… Seize the moment when pain exists because when pain goes away, so does the motivation and energy for change associated with it” – Craig M Macallester

Businesses are witnessing dramatic changes during the Covid 19 crisis. Governments have enforced lockdowns in most parts of the world. Consumer preferences are going to witness marked shift. Economic environment is drastically getting altered, economic slowdown is getting converted into recession all over the world.

Businesses witnessing pain due to dramatic changes can also benefit by proactively adapting to the situation. Kirana stores initially were benefitting, but with supply constraints and government restrictions they have also suffered. Large retailers like DMart, Big Bazaar have moved to home delivery, whereas Amazon, Flipkart traditional home delivery models have suffered. Post the lockdown, as the Covid crisis is expected to continue for a longer duration, large retailers will definitely benefit, as they would adapt faster to supply chain disruptions and improving safety measures to counter the Pandemic Covid 19.

Author:
Nityanand Jha, Assistant Professor, Unitedworld School of Law (UWSL)

Disclaimer: The opinions / views expressed in this article are solely of the author in his / her individual capacity. They do not purport to reflect the opinions and/or views of the College and/or University or its members.