Rethinking
Retail Business Models
for a Post-COVID-19 World
#mcgillric
First Edition Retail Innovation Challenge Winners
2nd Place Winners/Company
Bacaro
Team McToronto
Foodchain
Team Business Model Streams
Cafe Barista
Team Covideate
Can-Am
Team Renegades
1st Place Winners/Company
Bacaro
Team Revenue Optimizers
Foodchain
Team Ivey Digital Disruptors
Cafe Barista
Team W2E
Can-Am
Team MaLa Chai
Best Undergraduate Presentation
Team Business Model Streamers
Grand Prize Winner
Team Mala Chai
About the Retail Innovation Challenge
Like most sectors of the economy and maybe even more so, retail has been strongly impacted by COVID-19, especially retailers focused on non-essential goods and services with the closure of almost all physical stores, significant layoffs and a dramatic drop in demand, even for those with an on-line offering. And a recent study by McKinsey & Company reveals that as the economy opens up, only 20% of Canadians feel optimistic about Canada’s recovery.
The Bensadoun School of Retail Management at McGill University invites university students across Canada from different academic fields to come together and generate actionable solutions to assist the retail sector as it adapts to and emerges from the COVID-19 pandemic.
The challenge presents an experiential learning opportunity to mobilize the knowledge and creativity of university students and embolden them to solve real problems in collaboration with businesses during this period of economic recovery.
Your Mission & Schedule
Phase 1 — Ideation
June 3-7
June 3 - Evening
Instructions sent to student teams
June 4 - 8PM ET
Launch of the Retail Innovation Challenge & student teams receive their respective business cases
June 7 - 8PM ET
Ideation submission deadline
Phase 2 — Implementation
June 8-14
June 9
Announcement of the top 5 teams per company for phase 2 with the new instructions
June 11 - 8PM ET
Townhall
Lightspeed: Moderated Q&A with Lightspeed Hospitality Leads
June 13 - 11:59 PM ET
Implementation submission deadline
June 14
Semi-finals online presentations in front of separate jury per company (members of company & case writing team)
Phase 3 — Business
June 15-21
June 15
Announcement of the finalists
June 17
Mentoring from McKinsey & Company (30mins)
June 17 - 8PM ET
Townhall
Canada Post: Moderated Q&A with Mélanie Béland, Senior Development Manager, eCommerce Eastern Canada
June 19
Mentoring from McKinsey (30 mins)
June 20 - 3PM
Submission deadline
June 21
Finals online presentations in front of independent jury & winners announcement
Presentations will be presented in front of a virtual panel of judges who will evaluate the proposals by its impact on:
Viability of
Idea
Use of
Supporting Data
Quality, Clarity
and Creativity
Impact on
Business
Impact on
Stakeholders
The winning teams per company and overall will receive monetary and other exciting prizes!
This edition’s theme is The Food Sector.
Teams will be allocated evenly across companies in the following three streams in the food sector and make use of data sets provided from the partner companies. Teams will have the opportunity to express their preferred stream in the registration form and we will try our best to accommodate their choices.
Grocery
Restaurant
New Business Models
Why Participate?
Get real-world experience working on a real business case
Potential for senior-level mentorship to further develop your ideas
Make an impact on the future of retail during these unprecedented times
Win prizes like monetary gifts and internship opportunities
Resources
McGill ReporterCOVID-19 Q&A: Jennifer Ronholm on staying safe while shopping for groceriesRead Now |
Retail InsiderSpecial Edition 12:
|
McKinsey & CompanyA global view of how consumer behavior is changing amid COVID-19Read Now |
The Bensadoun School of Retail ManagementWhat can we learn from China as we prepare to open up the retail sector?Read Now |
McKinsey & CompanyGlobal surveys of consumer sentiment during the coronavirus crisisRead Now |
AccentureHow will COVID-19 change the consumer?
|
How to Record a Power Point presentationRead Now |
Power Point Presentation TemplateDownload Now |
Frequently Asked Questions
- How do we submit our presentations?
- Is using the Powerpoint template provided mandatory?
- One of our team members dropped out, can we add a new one?
- What platform should we use to record our presentations?
- Are all members of the team expected to be featured in the recording?
How and when do we submit our presentations?
Only one submission from each team should be sent. Team leaders are expected to submit the files via e-mail to us at bsrm [at] mcgill.ca.
The subject of the e-mail should follow this format: Retail Innovation Challenge - Submission - [Insert Team Name]
Is using the Powerpoint template provided mandatory?
No, the template we provided is not mandatory. You are free to use any platform and presentation structure you like. That said, if you’d like help with your presentation structure, you can access our template here.
One of our team members dropped out, can we add a new one?
Yes, you can replace a team member. Please ensure that they fill out the pre-registration form.
What platform should we use to record our presentations?
You can use any platform of your choosing. We have provided instructions on how to use Power Point to record audio for your presentations. However, you are free to use a software like Zoom, Quicktime, Premiere, Google Slides, etc.
Are all members of the team expected to be featured in the recording?
No, you can structure your recording however you'd like.
Partners & Sponsors
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