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Title

BSS057-6 Corporate Innovation and Entrepreneurship

Assignment 1 –

Critical Evaluation of selected Vignettes

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Table of Content

Introduction 03
Innovative developments during the pandemic 03
Innovation that might be suitable for the 05
longer term
conclusion 09
Reference 09
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Introduction –

In this report we are going to take the scenarios of the organization named SST Bakery, which is
a retail segment firm and specializes in manufacturing bakery products and selling bakery
products. In this report we will se that how the organization came up with the unique innovations
in the Covid, what were the steps that were taken by the organizations to attract more customers
or to survive in the hard times. There are certain techniques in the report which helped to
maintain their customer base.

1) Innovative developments during the pandemic-

(https://www.mckinsey.com/industries/retail/our-insights/adapting-to-the-next-normal-in-retail-
the-customer-experience-imperative)

The retail sector has evolved significantly in recent years and has been proven over a long period
of time thanks to advances in customer care, supply, behavioral change and integrated
development of online and offline retail design. As customers became more and more difficult,
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retailers had to improve by changing inventory and showing strategies, intimacy, and customer-
related offers.

In this part we are going to talk about the organization name SST bakery which specializes in
bakery products have a chain of 5 retails.

COVID-19 has dramatically changed the development of the industry while changing the
emotions and lifestyles of customers. It is no longer mandatory for resellers to be online and
have an active backend. All resellers move forward at a pace and invest in development to
improve the character of their organization. We expect this rapid digitization to open up new
freedoms and transform the region.

Retaining of omni channels - The covid-19 has led to more honest receptions than ever, and
retailers are starting to look for creative strategies to promote discounts, such as offering virtual
prep rooms and video calls for discounts. So, you can benefit from combining online with other
stores. Organizations are exploring a combined process to develop customer value propositions
and reduce costs. The issue of attracting purchasing customers through various display/sales
channels is increasingly being considered.

Evolution of retail spaces with the help of the technology - Progress will lead to radical progress,
and retailers will have to invest in tech organizations and strive to succeed in the workplace.
From approved signatures to free purchases to discounts, marketing will accelerate your
transactions while reducing legitimate cooperation. Retailers need to monitor ongoing machine
development in the form of apps, robot updates, electronic reward programs, herd control,
contactless shopping and link development. Combining physical and high-tech retail through
augmented reality and computer thinking, the Fygital space is constantly infiltrating retail outlets
in India and needs to improve its design. In the online store and in the real world, they will want
to celebrate their incredible achievements and knowledge to meet the wishes and needs of
buyers. Also, given that this is a “very important requirement”, we look forward to a more active
involvement in real estate manager and tenant background checks.

With the times there are changes in the shopping space - The shopping area has strong roots and
is separate from the branded retail space, but will be a mechanism to attract, interact and retain
customers. Retailers recognize what makes their customers a unique experience and are looking
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for places that are unique for a customer. Research for success is emerging and store design will
increase significantly from an experimental point of view. You may need to
collect/exchange/return regions to activate multi-channel retail. Additionally, the A&B zone
seems to provide a reliable area for taking orders online. Last Mile stores are expected to balance
next year with the emergence of a new trading system that allows people to control everything
online.

In addition, brands can share retail ads in new stores, standard showrooms, celebrity store claims,
and pop-up windows, providing a variety of ads to connect with specific customers depending on
how interested people develop and require collaboration.

While disconnected shopping and in-store delivery will become the norm, shopping centers and
stores can be moved out of the enclosed spacious boxes with greener and more outdoor areas to
provide better lighting and ventilation. Going forward, these improvements will be needed to
shape the way people shop in malls and downtown areas.

Glimpse of changes in entertainment sector –

Multiplexed organizations face serious threats from the spread of COVID-19. 8 months full
bondage. Once started, other creators adapt to the lack of content as they send their films during
the OTT or product launch phase. As the retail industry relies on multiplex for travel and caring
for shoppers, the latest content will eventually bring customers back to the mall. It also requires
active efforts to add security measures by bringing children and teens back to the arcade area.

2) Innovation that might be suitable for the longer term –

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(https://www.mckinsey.com/industries/retail/our-insights/adapting-to-the-next-normal-in-retail-
the-customer-experience-imperative)

Customers tend to buy faster even in the classroom with basic foods where data processing is
tedious. The question is, what can a new front-line store do? Customer welfare and safety are just
the beginning. The most creative retailers will also rethink the ideas of block and cement to
introduce new, dynamic and evolving physical and super meetings.

 Experiences of In-store - Shopping by appointment is one of the most important

prerequisites for freedom of action. Event-based purchasing, first used in luxury stores,
regulates prosperity, limits and modifies management. Similarly, it can meet both
requirements at the same time. For example, Best Buy provides guidance to shopping
consultants.
For apparel retailers, pre-orders can help you plan a destination change with specific
information your customers should try. The advanced entitlement feature allows shoppers
to pre-order and customize according to customization by online shopping, choosing a
variety of sizes, and scheduling when and where to visit a retail store.
To shop better in your store, you need to activate the planogram and the ability to analyze
groups and stocks in your store. What's different from store to store suggests that buyers
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can enter the store and find items that aren't in a particular area. Home Depot and Target
are useful for showing whether an item is available in the location of the store.

Disconnected shopping is another area that deserves more common interest. Self-check-
in in retail has been possible for a long time and is expanding the experience. Trucks and
great innovations like Amazon Dash Cart and Amazon Go show us what to think about.
This simplifies the shopping process by eliminating one of the most serious drawbacks of
shopping, the queue.
 Experiences of beyond store - Stores and warehouse chains are another fast space for
freedom. Stores need to update their cycles to manage inventory and customer
satisfaction in a more user-friendly way for their online customers. For example, an
online retailer may want to attract customers when an item purchased for shipping closes
at the end of its shelf life. Substitution is generally not possible or satisfactory. Customers
complain that they have to uniquely tour other stores because they have been told that
some items are unavailable when the vehicle arrives. One solution to this problem is to
place an online order so that customers can be confident about their order.
But why do you stop there? Retailers must also allow buyers to request items that are out
of stock and add them to their pickup or forward the request when they are in stock. You
can place orders in the future as well as "auto add". Another idea is to customize the
finished paperwork so that the customer can answer a simple yes to add the item to the
truck before delivery. This increases the likelihood that customers will get more goods
they really need without shopping elsewhere, spending more energy.
 Hybrid shopping - Today, retail is primarily developed over the Internet or through the
mail. Since everything is the same, you can combine them in different ways to improve
your customers' purchasing needs. For example, a shopper can quickly shop online or get
what they need and get what they need, and at this point they plan to deliver the rest of
the items.
Independent shopping is not only required for checkout If a customer sees an item that is
in stock or on display, the retailer may also give you the opportunity to tidy it up in the
field.
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British retail chain House of Fraser Prior explored a number of options for the "shop
window" idea. Shoppers passing by in front of the store were encouraged to open the app
to view presentation images, create product content in widgets, and purchase items
directly from the app. Suit Supply has created a high-end incentive retailer that streams
customer-style live streams to customer engagement in San Francisco's flagship store.

Zegna, a gorgeous men's clothing brand, has introduced a virtual personalized customer
search. Retailers contact customers through Zoom to share custom apparel “boards”.
Employees also visit customers through the store to understand what's going on.
More examples of a firm and their solutions, how they came up with a pattern –
Shanghai, China. Lin Qingxuan is a retailer with 300 stores selling beauty products made
from traditional Chinese spices. By the beginning of the Chinese New Year, a major
shopping season for retailers, the coronavirus reached 40% of its floor area, resulting in a
90% decline in store sales.

As a result, the organization immediately adapted its execution plan to the computer's
transactional channel. For example, 100 consultants used tools like WeChat, DingTalk,
and Taobao Livestreaming to organize networking events that connect their home
customers to distribute the splendor of their stores. The course change worked.
Valentine's Day online events earned 45% more than the same event last year.

For organizations that have been more innovative during the pandemic, creativity
and innovation that can be sustain for longer terms –
In many ways, innovation is emerging as an important component of pandemic-related
retail transformation. These benefits came before COVID-19 turned the world over, but
developed after all the consequences of the crisis were gone. Going upstairs is an
impressive model.

Online operations provide dynamic customized sales channels suitable for unstable and
unexpected situations. Shoppers can search for a wide variety of products, and this search
information (along with instant shopper traffic information) provides incredibly
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consistent responses, including interest in new products. This information allows resellers
of the platform to react quickly to changes in the shop window.
For example, consider the Etsys online scene experience. During a period of soaring
interest in face masks in the aftermath of the epidemic, many buyers switched from
traditional items such as Amazon's "50-bit face mask" to trendy spiral items. Instead, they
went to Etsy to find handmade covers from 2.7 million artisans and scenic suppliers.

Etsy took hours to detect changes in search behavior, and the company restructured to
reflect these changes. Etsy wasn't dedicated to retailers, as he brought face care
manufacturers to inform them of their assumptions about the transport and distribution of
interest. In its May 2020 Income Statement, Etsy noted that 60,000 stores sold face masks
and recorded $133 million (at least 10% of gross field product) in April alone, totaling 12
million units.
Etsy's experience focuses on another important advantage of the platform model. Free
resellers can fight giants like Amazon. The flexibility of platform marketers allows you to
offer creative alternatives to buyers and take advantage of the anticipated rapid change.
Another business milestone, Shopify, announced a 71% increase in new store locations in
the second quarter of 2020 compared to the previous quarter, when customers moved to
network business. Shopify currently has over a million resellers.
Some resellers create platform features. For example, C&S Wholesale Grocers partnered
with Instacart to provide same-day distribution and business solutions to more than 3,000
C&S offline retailers in the United States over the Internet. The C&S Food Vending
Institute will move to the Instacart Commercial Center to develop and contribute to the
online business. Instacart customers can request products from food suppliers and choose
the right delivery time for their application.

Also, the opening of sale is not related to popular products when there is a big cut. With
Etsy flooding, the business also expanded without a cover class, despite the recent
wedding and collection of related items.

3) Examples of Creative idea generation/ entrepreneurial mindset might be developed in

the future -
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Smart phones turning as a change agent - Another innovation that could be recognized by SST
bakery before the pandemic is now portable mail that helps organizations do business over the
Internet.

The main component of mobile operations is synchronization, the ability to orchestrate the
availability of items or assets. At the same time, customers are receiving not only trust but also
exchange. Special cooperatives can handle the current demand and use their assets smoothly.
Here are two models:

1) Chipotle offers BOPIS (online shopping, pickup) in Burrito and expands on Chipotle ideas. In
this structure, customers request food with a handheld app and choose a pickup time. They
collect applications in the window and avoid long lines. The lack of upholstery makes it easier
for Chipotle to obtain dealer's clearance from dealers who do not need to block custom aisles.

2) Various innovations are used to manage parking in metropolitan cities, a rare asset. New
companies such as CurbFlow are working with urban areas to provide multifunctional
applications for vehicle drivers and interconnected organizations to plan paving and unloading
workouts. Deploying closures in this way is so important to the professionalism of the web
company that it alleviates the cohesion of the city with the last mile warehouse network, an area
that is receiving a lot of attention.

Conclusions

Think "Secure Retail"- Don't think of fast sleeves. Since the onset of the pandemic, customers
have been increasingly inspired by secure retail stores. Also, in vulnerabilities and crisis
situations, people need reliable data.

Enhance advanced channels. -A year ago, everyone had to discuss "physical" trading. There are
no products or customers in the real store. Retail brands and shoppers, especially those who sell
non-essential merchandise, need to rethink the customer experience and find ways to meet their
tastes and requirements through computer-defined channels. Retailers who trust their regular
customers to share their experiences will be put to the test in this new world.

Customers are looking for a brand they can trust. In addition, it must be purchased from
organizations that have earned profitable profits in the fight against this epidemic.
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References

Pantano, E., Pizzi, G., Scarpi, D. and Dennis, C., 2020. Competing during a pandemic? Retailers’ ups
and downs during the COVID-19 outbreak. Journal of Business Research, 116, pp.209-213.

Yang, K., Kim, J., Min, J. and Hernandez-Calderon, A., 2020. Effects of retailers’ service quality and
legitimacy on behavioral intention: the role of emotions during COVID-19. The Service Industries Journal,
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Naeem, M., 2020. Understanding the customer psychology of impulse buying during COVID-19
pandemic: implications for retailers. International Journal of Retail & Distribution Management.

Roggeveen, A.L. and Sethuraman, R., 2020. How the COVID-19 pandemic may change the world of
Retailing. Journal of Retailing, 96(2), p.169.

Dinesh, S. and MuniRaju, Y., 2021. SCALABILITY OF E-COMMERCE IN THE COVID-19

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Bhatti, A., Akram, H., Basit, H.M., Khan, A.U., Raza, S.M. and Naqvi, M.B., 2020. E-commerce trends
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Pantano, E., Pizzi, G., Scarpi, D. and Dennis, C., 2020. Competing during a pandemic? Retailers’ ups
and downs during the COVID-19 outbreak. Journal of Business Research, 116, pp.209-213.

Roggeveen, A.L. and Sethuraman, R., 2020. How the COVID-19 pandemic may change the world of
Retailing. Journal of Retailing, 96(2), p.169.

Aull, B., Kuijpers, D., Sawaya, A. and Vallöf, R., 2020. What food retailers should do during the
coronavirus crisis. McKinsey and Company, available at: What-food-retailers-should-do-during-the-
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