As the world stabilises following pandemic shake-ups at The Detail Group Limited, we are looking at 2022 as the first year of a 'new normal'.
The last two years have seen significant business disruptions, global challenges around product availability due to supply constraints and logistics constraints, and delayed new product launches. In April 2020, 46.6% of people in employment did 'some work at home', with 86.0% of these doing so due to the COVID-19 pandemic.
Consumer behaviour reflects the shift to home-based work, with most purchases moving to D2C. As we settle into the new year, it is well worth reviewing the changes that your business has undergone to determine what should stop, continue, or improve as we move into a new normal.
As 2022 progresses, many companies will look to reshape, start new activities and build on what they've learned from operating through times that have tested processes and patience. Understanding a business's needs is critical to making the right decisions around focusing attention and effort.
Here's a snapshot of some of the industries we work which underwent massive changes during the pandemic and the shifts we anticipate in focus areas for 2022:
The bike industry – saw a huge surge in demand; as a result, limited supply of key components constrained the availability of bicycles worldwide. As the supply chains work through the backlog of orders, the bike industry needs to improve its forecasting – so the supply chain can work together with accurate data to maximise what the supply chains can deliver to meet demand. Accurate information sharing will help shorten the logistics freight forwarding booking but may not help with the destination port bureaucracy!
The food industry – saw an increased cost of goods and pressure to provide environmentally sustainable solutions. Food companies will look to package differently, and there will be movements to minimise food waste.
Businesses that have seen immense growth rates during COVID –D2C brands that make your life a little better and simpler – such as Bloom & Wild or recipe boxes, such as Mindful Chef – will seek to build on growth they saw during the pandemic. Customer retention will be critical here. Other brands which saw a massive swing to D2C during lockdowns and then back again as the new normal settles in, will be aiming to rebalance channels to market and optimise how they support those channels.
A rigorous assessment of your business, examining the core activities and functions that enabled it to get through the pandemic and which drivers have changed, offers valuable insight and can steer future direction. We at TDG remain engaged with our clients to help with this journey.
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