1 MINUTE READ | March 26, 2020
How Retailers Should Plan Amidst the COVID-19 Crisis
It’s no secret that the retail industry was already in the throes of upheaval before 2020, and with the current novel coronavirus crisis, they’re dealing with unprecedented challenges. And while there’s no doubt that the crisis will eventually end, the key for retailers is how they shift their planning during the crisis so that when that time comes, they are best positioned to grow. That was the subject of a RIS article that featured insights and commentary from top executives across the retail industry, including PMG’s Nick Drabicky.
According to Drabicky, “Leading brands are planning for a new creative direction in response to the crisis — moving from a reactive approach to a proactive, contingency-based approach that builds appropriate brand communications for this protracted new reality.”
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He added that leading brands have reallocated funds to higher-performing channels and that media platforms such as YouTube and TikTok will likely see a big boost as marketers reallocate budgets into digital channels. For full insights from Drabicky and other executives, check out the article.
Posted by David Gong
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