Novel Solutions for Novel Times - New customer behaviours
The third episode from the “Novel Solutions for Novel Times” webinar series, focusing around the new behaviours in the new world.
Antony Welfare - Managing Director of Blockchain Practice @ DXC Technology
Najib Rehman - Data Strategy Lead @ FarmaTrust
Nikhil Vadgama - Deputy Director @ UCL Centre for Blockchain Technologies
Peter Bambridge – Global Director, Retail and Consumer Goods @ Oracle
Key takeaways from the panel:
Covid-19 has magnified the impact blockchain can have across various industries.
Blockchain and DLT may be increasingly adopted during the health crisis, especially in situations concerning trusted, immutable and shared data.
The challenges posed to global supply chains will persist, and leaders need to address them to be better prepared for a potential second wave of Covid-19.
Significant differences can be observed in retail behaviours since the beginning of the pandemic. Consumers are exponentially engaging with e-commerce, while suppliers have narrowed down their product offering.
Due to increased online shopping, the cost model of retailers needs to be re-evaluated, to account for fundamental changes in home delivery capacity, item picking etc.
Just-in-time to just-nearby: a shift towards a more localised supply chain, driven by the need for sustainability and traceability.
Cost and value-driven consumers may demonstrate a preference for smaller and more local retailers, partly due to limited budgets.