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.

Presented by:

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.