The retail industry was already facing widespread change prior to the COVID-19 pandemic, with shifts underway towards online shopping and fast delivery. The pace of change accelerated during the pandemic, with government restrictions on in-person retail experiences and a customer preference for safe, contactless delivery and return options.
Although digitized shopping is by no means a new phenomenon, the surge in demand during the pandemic has created unforeseen challenges for retailers and wholesalers with retail operations. Business operations are being stretched to their breaking point, as retailers and wholesalers try to adapt to and manage an increasingly complex set of risks, from cybersecurity to supply chain disruptions.
BSEEbix’s experienced Retail & Wholesale Practice specialists can help your company anticipate emerging risk management needs and implement strategies to ensure stability and profitability in an era of uncertainty. The Indian retail industry is evolving rapidly, with increasing customer demand for the “four Cs” — convenience, choice, cost, and communality. Retailers are doing their best to adapt, although this effort has met challenges in the form of the COVID-19 pandemic, severe weather events, and a growing social justice movement that is requiring businesses to examine how their practices may be contributing to inequalities. Now, more than ever, your company needs to focus on resilience in order to minimize risk and protect its customers, employees, and bottom line.
BSEEbix’s Retail & Wholesale Practice is composed industry experts with many years of experience in the industry. We provide a full suite of services and solutions uniquely tailored to your business’s risk management needs — today and in the months and years ahead.