Dale Renner is CEO and Founder of Redpoint Global, the leading provider of customer data platform and customer engagement technology.
The Covid-19 pandemic has caused societal ramifications that are endless. While some industries are more impacted than others, the forthcoming challenges weigh heavily on customer-focused organizations.
The immediate fallout has been severe. According to the U.S. Census Bureau, retail sales plunged a record 16.4% in April, including an 89% year-over-year decrease for clothing and accessories stores. Brooks Brothers joins a growing list of iconic retailers to file for bankruptcy protection, including Neiman Marcus, J.C. Penney and J. Crew. Meanwhile, changing consumer behaviors are reflected in an increase in online sales and other no-contact transactions. As April retail sales plummeted, e-commerce sales increased 8.4% during the same time frame, accounting for a 19.4% share of all retail sales. A Gallup survey reveals that 36% of Americans used a