While Black Friday and Cyber Monday were successful days for the retail sector, these two days alone are not a panacea to the sector’s performance challenges. Some retailers will continue this momentum. Others will not. The difference between the two sets of retailers? Knowing when and how to act as the water around you gets hot.
In our world, there are two kinds of frogs — those that jump out of the pot when it’s boiling and those that boil. Smart retailers jump out of the pot before it boils. They are keenly aware of changing conditions on the ground. And they don’t allow personal opinions about the cause behind the changing conditions to stand in the way of decisions and actions.
The global push to meet today’s needs without compromising future generations’ ability to do the same is one such boiling pot for retailers. Some are ignoring customer interest in all things environmental and social. Smart retailers, on the other hand, have realized the water around them is getting hot and they are proactively taking action. As a result, these retailers are cutting costs today, planting growth seeds for tomorrow, and setting the stage for accelerated strategic agility well into the future.