Retail has been my world for 35 years and it is Uncrowd’s life-blood. We don’t want to see any retailer punished by COVID-19 for the want of accurate customer insight, the thing that we do. Uncrowd can throw light onto the chaos, so will provide our FRi modelling platform, our time and support free of charge. Retailers need cover only the actual cost of the data capture.
On the supply-side our retailers have been able to develop very good prediction and mitigation models, we’re ready to provide the customer/demand-side part of the story.
We know how crucial it is to put data, reliable numbers, into the mix. We can provide that, so we should provide it. One way to find a way out of chaos and uncertainty is to wash our brains in the data. The data holds the truths and truths are salvation.
COVID-19 is having a material impact on retailers, with the probability that things will get worse before it gets better. That’s not just an economic crisis, it could add to the human one too in jobs, pensions, and in the ability for retail centres to function at all.
As a team we’re able to both model the effects of COVID-19 related-issues on retailers and inform mitigating strategy. Which means, if you’re a UK or US CEO, VP, CMO, COO or insight person desperate for hard numbers, we can help.
The last thing we want is to profit from a challenge that is bigger than money, so for as long as we have capacity we will run COVID-19 Impact Modelling Analysis for any retailer that needs it at just the cost of data collection – everything else, including our time and the platform is free.
Those costs are between £10k-£30k/$12k-$36k from cold per sector (depending on how many shopper missions you need to cover) and if any retailer wants to club together with ‘rival’ colleagues in the same sector we’re happy to pool the data and cost across a number of retailers.
It’s about increasing the chances of our retail colleagues navigating the least damaging path through this crisis; at the same time as decreasing the uncertainty of the effect of customer reactions to a changing situation.
There’s two sides to this coin; the one is making sure that retailers have the best possible models to be able to anticipate the impact of the crisis. The other side of that coin is about mitigation and recovery.
Overall, we’re looking to provide the insight that helps retail in general bring customers back to physical stores as well as online as quickly as possible as things improve, as they inevitably will.
Changes in retail spending often leads both into and out of recessions; COVID-19 is pushing our economies in the direction of recession – we can help retailers work out which of the available levers need pulling and by how far in order to avoid a retail-led recession by keeping customers spending.
This is not an advert; the reason we’ve put this service up live on Microsoft Azure Marketplace is because that’s the quickest and easiest way to get it to where it’s needed.
Any retailer that already has an Azure contract/budget can add our COVID-19 tool to that contract with just a couple of clicks and in doing so shortcut the usual internal challenges of procurement and so on, comfortable in the knowledge that we are delivering to a safe and qualified standard.
This approach means we can get this spun up for desperate retailers in the UK and the US super-fast.
Imagine American Eagle are looking like they’re going to be the first fashion retailer to experience big stockouts.
Working out what to do to keep customers engaged is the challenge, running numbers on our platform with this simulation might show that a basic-supply service, the clothing essentials is something customers need right now, regardless of it being the newest stock.
If people are going to find themselves isolating for periods of time, then maybe Home Depot can adapt to offering project-packs with contact-free home drops?
They can model that with our platform and be able to see if it’s a sensible financial and customer move or not before investing precious resources.
Walgreens are obviously a big part of this story; the potential to impact regular customer business is significant.
Let’s set them up with the insight that gives them the numbers that can support providing emergency pop-up locations for example.