For all the talk of digital transformation in recent years, prior to the pandemic, many retailers continued to rely heavily on physical stores. In 2019, less than a third of U.S. retailers had implemented a digital transformation strategy, and just 4% of the 500 largest retailers offered online ordering with curbside pickup.
When the Covid-19 pandemic hit, the American retail landscape transformed overnight. Major brands shuttered storefronts and dove headfirst into a variety of omnichannel experiments, including services like curbside pickup; same-day home delivery; and buy online, pick up in-store (BOPIS). By the end of last summer, the share of retailers offering curbside pickup jumped to 44%. Brands that had long avoided prioritizing ecommerce, such as Costco and TJ Maxx, scrambled to set up online stores. Walmart launched two-hour home delivery in April of 2020, and Walgreens pharmacies implemented a BOPIS option in May.
Now, as lockdowns come to an end and the economy thaws out, many retailers are wondering whether these changes will stick around post-pandemic…
Read the full article online at Harvard Business Review.
This article was produced by Footnote in partnership with Texas A&M University Mays Business School.
