The current health situation has unraveled business processes and societal norms alike, leaving retail-an inherently social industry built on the exchange of physical goods-in a state of flux. We are calling it the "New Next" because let's be honest; there is nothing normal about this unfathomed event and no clear roadmap for what lies ahead.

Customers are perpetually changing the way they shop, challenging retailers to create a whole new set of KPIs that need to be monitored and a new set of business practices that have yet to be defined. As retailers work through new scenarios, they must move quickly to take advantage of opportunities as they appear. Regardless of revenue size or segment, the core business model has shifted and speed is a board-level conversation.

While the path ahead is unknown, it is the continuous reinvention of the landscape and the commitment of brands to adapt and evolve that will define the next era of retail. These strategies can help retailers plot a steady course and find their way through uncharted territories. Just as a compass can help us orient ourselves in unfamiliar surroundings, technology can help retailers make sense of the situation and make more informed choices in the face of uncertainty.

So, how can retailers navigate the New Next? We aimed to answer this question in detail via our Resource Center. Still, at a high level, we see retailers re-optimizing inventory, safely re-opening stores, and expanding customer journeys to leverage their investments differently to meet demand. Beyond the tactics, retailers must now embrace three key strategies to lead in a time of change.