In this together: the long-term effect of a collective crisis on the retail and service sector

Abstract

PurposeThis research explores anticipated long-term change in the retail and services marketplace, directly arising as a result of the Covid-19 pandemic.Design/methodology/approachA series of 20 in-depth interviews were conducted with retail and service stakeholders (executives, suppliers and thought-leaders) from across Asia-Pacific (New Zealand and Australia), the United Kingdom, Europe and the United States.FindingsWe identify six guiding principles for long-term change in the retail and services sector required to guide future business development and practice, including embedding new ways of working, rethinking the role and purpose of physical space, prioritizing digital elements, integrating employees in community, building agile supply and planning for future turbulence.Originality/valueThe Covid-19 pandemic is different from prior disruptive experiences in that it was a sudden shock to business and was collectively experienced by firms, workers and consumers across the globe. This research provides a view of decision-makers’ sensemaking and anticipated changes impacting the future retail and services marketplace.