Retailers must go beyond cost-cutting and embrace a comprehensive transformation to stay competitive. Key strategies include managing a shift in skills by investing in talent and reskilling, adopting an agile and omnichannel operating model, and leveraging automation across the organization. The pandemic accelerated existing challenges, such as declining store traffic and the rise of e-commerce. To adapt, retailers need to focus on talent, integrate online and offline operations, and automate processes to improve efficiency and cut costs, positioning themselves for long-term success.

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