Retail Crisis Management: Advice from Experience

Hi and welcome to Retail 90! Today, we’re
talking to Open 24 Seven about dealing with a crisis. So back in 2013, we were a
thriving ecommerce company. We just bought a new premises, we were getting ready for one of our busiest and biggest years. And on March the 5th 2013, I got a phone call, basically to say that my warehouse was on fire. We had probably one of the most difficult periods in this entire company’s history. We’ve had
some challenges, but losing essentially everything overnight, I think was
probably one of the biggest. If it wasn’t for the systems that we had
integrated and the backups that we had, we could have potentially lost
everything. We could have lost all of our data, we could have lost all of our stock.
Luckily everything was cloud-based, so although we had a catastrophic fire and
although we lost all of our stock, we still had all our systems in place. I think the key after you’ve experienced
something that significantly impacts your business, or in fact
personal life, the key is just to remain calm, make a plan, know what you need to do and then just execute it. As long as you’re
methodical and you know where you want to be and you have a vision, there’s no
reason why you can’t come back from it.

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