What keeps CEOs up at night: Coronavirus impact, global recession, and mass protests and movements for starters.
As this PEST analysis shows, retail executives and their teams need to juggle a variety of complex market factors as they revise their 2020 strategies to navigate new risks.
UPDATED Jan. 2021: 2021 Retail PEST Analysis
Overarching themes include:
So much change in so little time has humbled even retail giants.
2. CARING FOR CONSUMERS
Retail companies are genuinely trying to listen, learn and adapt to consumers’ needs, ranging from safe stores to diversity and inclusion.
3. PRIORITY SHIFTS
Although sustainability still matters to consumers, companies face an urgent need to address issues like health, safety and solvency.
What factors would you add?