COVID-19 has brought about massive changes in consumption patterns, spending and concerns about health and hygiene. Growing business models such as recommence, rentals and subscriptions face new challenges as they respond to changed consumer expectations.
The session provided data and insights on how the retail startup landscape is shifting, and examined how some of the best-funded DTC startups in the industry are transforming their business models given the challenges of COVID-19.
During this session, Shoptalk interviewers conducted fast-paced interviews with Amy Errett, Founder & CEO of Madison Reed and James Reinhart, Founder & CEO of thredUP. With hair color and resale being two businesses at the center of the dialogue about changing consumer behavior, the conversation showcased how startups can be role models for adapting to the current pandemic.
This session was teed up by a conversation between members of the Shoptalk team as they discussed the additions to the Shoptalk Retail Framework for COVID-19 and the input they received from Shoptalk’s Slack workspace, virtual conference attendees, industry experts, daily news coverage and updated data on the effects of the pandemic.