Planning for the Holidays
While some of us are keeping our eyes on turkey prices for Thanksgiving many are wondering what other ‘fixings’ may not even make it to the shelves.
Current predictions have us looking at next summer before there’s any relief in sight for the congestion at the ports, while others predict it may be even longer.
While the challenge is complex, we’ve been doing some research and talking to those who are directly involved about how this is impacting the industries TZR serves and want to share some highlights with you:
There’s a push to get consumers to shop sooner for the Holidays. Hello, every day now feels like Black Friday…
In this new hybrid reality, it’s essential to create convenient, frictionless, omnichannel offerings that bring the store experience online and the digital experience to stores.
Observing the 2020 trends, 2021 holiday shopping predictions are starting to illustrate similar patterns, with the thought that multichannel retailing will penetrate more than the last year.
According to this source, multichannel retailing opens several channels of revenue. It also supports your online platform – enabling customers to learn about products, then pick-up from the physical store. For an alternative perspective see what we had to say about omnichannel benefits here. Also noted:
- Supply chain disruptions continue to plague most industries leading to uncertainty around available products/inventory for the holidays
- Consumers have high expectations for the retail experience both in-store and online regardless of the challenges retailers are facing
- As the pandemic drives on, demand remains high and consumers are ready to spend
- Labor shortages in all areas from logistics to in-store, on top of supply chain issues, will be another huge challenge for retailers during the Holidays
- eCommerce capabilities could make or break a business this season
Merchandising and Display, and Demand
Even in a pre-pandemic world, this time of year is referred to as ‘peak’… but if the shelves are remaining empty what does that look like for forecasts, and simply the ability to fulfill orders already placed?
“I’ve been doing this for 43 years and never seen it this bad,” said Isaac Larian, founder and CEO of MGA Entertainment, in this article one of the world’s largest toymakers. “Everything that can go wrong is going wrong at the same time.”
While Steve Azarbad, co-founder and chief investment officer of the hedge fund Maglan Capital, says “Retailers are having a really hard time filling their shelves,” Azarbad said. “I talk to a lot of suppliers, and they’re telling me ‘I just can’t fill all the orders I’m getting.’
How can TZR help?
From labor and equipment shortages to customs and capacity, we are not sure when all the ‘fun’ will end – and that is something to consider especially when you think that the supply chain and businesses have not had a chance to ‘return to normal’, even as we plot and pivot toward what tomorrow may look like.
Whatever the ‘new normal’ may look like, TZR is with you:
- Provide specialized services to identify the best of the best in the industry
- Help fill key openings that will help the season (no matter how long it lasts!) go smoothly
- Help pinpoint where current strengths and weaknesses lie within your organization and provide guidance as to who has the potential to 1UP right now
Make smart/efficient hiring decisions now as organizations compete for top talent in an ever-shrinking pool of available people