Why it matters
Fledgling industries will witness heightened challenges in the face of COVID-19, both as small- and medium-sized businesses are often the major players, and as many firms have not reached maturity – be it in developing supply chains or building brands – and so could struggle to outlast the crisis.
- With opportunities for discretionary spending limited due to widespread lockdowns, brands that can offer momentary respite and pleasure could stand to benefit.
- A test-and-learn approach to innovation, where brands monitor digital demand for limited-time offers, could help engage consumers and point towards potential revenue streams.
- Delaying product...