Transforming Experiences

(Retail, Restaurants, and Grocery) Surviving the Perfect Storm of Black Friday in 2021

Episode Summary

Your hosts Zack Hamilton and Mike Debnar sit down to talk about the upcoming perfect storm happening in retail and that’s Black Friday. For many retailers, this is like The Super Bowl. However, there is significantly less labor working than there was this time last year. We still have COVID-19, we still have supply chain issues; how will shopping habits differ this year? Zack and Mike weigh in with their thoughts.

Episode Notes

Your hosts Zack Hamilton and Mike Debnar sit down to talk about the upcoming perfect storm happening in retail and that’s Black Friday. For many retailers, this is like The Super Bowl. However, there is significantly less labor working than there was this time last year. We still have COVID-19, we still have supply chain issues; how will shopping habits differ this year? Zack and Mike weigh in with their thoughts.

What You’ll Learn:

• How to properly prepare for this holiday season’s perfect storm.
• What customers actually care about in their shopping experience.
• What to do with out-of-stock and other supply chain issue items.

Key Takeaways:

• Black Friday and Cyber Monday are happening! It’s retail heaven! [0:50]
• What factors should retailers be aware of this holiday season? [1:00]
• Holiday deals are starting early. This is like The Super Bowl of the holiday season. [1:25]
• We have to be aware of the labor shortages that are happening. We also have supply chain issues. Product is being docked on ships with it unable to go anywhere. And! We also still have COVID-19. We are going to see a perfect storm happening. [2:00]
• Where does the term Black Friday come from? [3:10]
• What is the definition of a “supply chain,” really? What does that actually look like in retail? [5:00]
• Why are shipping containers stuck at the ports? [7:50]
• Although we are just talking about retail, this lack of labor is a serious problem for all industries. Many industries ship life-and-death products that people depend on. [8:15]
• What’s important to consumers and shoppers during the holiday season? [10:25]
• We need to be providing more attention to the employee, not just the customer. How can you help them serve the customers better? [14:30]
• When you’re out of stock, the best policy is communication. Talk to your customer and be transparent. [21:10]
• Customers are going online first to see if you have that item in stock before they physically go to your location. You want to keep your store updated in real-time. [24:50]
• The retailers are going to win this holiday season! [27:35]
• Mike recently visited New York City, which has a COVID-19 mandate, from Texas and it was like living in two different worlds. He’s curious to see how retail will be affected across different regions based on this. [30:25]
• Will we ever get back to normal? [31:45]

Continue on Your Journey:

Medallia.com

Zack on LinkedIn

Mike on LinkedIn