Pandemic Strategy Pivots that Worked
The news from the business world regarding the effects of the COVID-19 pandemic has been mostly negative. The shutdowns and supply chain issues, to name but two, caused many businesses great harm.
Today, I'd like to talk of two firms that pivoted quickly and performed admirably–Best Buy and Chick-fil-A.
Best Buy, an electronics retailer, and Chick-fil-A, a fast food chain, both pivoted quickly to online sales and then filled orders with curbside and drive-thru delivery and through direct-to-home delivery.
The results were impressive.
They retained about 80% of pre-pandemic revenue
Profits maintained or improved
Staffing issues were lessened
Chick-fil-A is as busy as ever now, as they are just reopening their stores.
I welcome your feedback.
What do you think of these observations?
What examples do you have?
How has your firm improved during the pandemic?
What are you doing in this time of unprecedented change to remain successful? If you are trying to simply hold on until we get back to "normal," then you are failing to take advantage of opportunities to leap ahead of your competition.
If you want some ideas to dramatically improve your product strategy and commercialization, let’s talk.
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