What can you expect with retail re-opening post-covid

What can you expect with retail re-opening post-covid and the importance of getting closer to the customer

Many changes are expected with retail re-opening post-covid. Retailers need to get closer to the consumer with social selling and keeping the conversation going with consumers

According to HBR, brick-and-mortar retailers can’t expect to go back to what is envisaged as “normal retail” too quickly with the same habits pre-pandemic as brick-and-mortar retailers were already competing with the larger online e-commerce players and those challenges have accelerated at staggering speed during the pandemic.

Source Harvard Business Review

According to McKinsey report we can expect continued digital stickiness. As consumers expanded their digital habits during covid, these habits are expected to stick with continued online shopping, click and collect service and online wellness services. It reports that through January 2020 to January 2021 an increase of 35% penetration of credit and debit card spend was seen.

figure continued digital stickiness

Source: McKinsey Survey: US consumer sentiment during the coronavirus crisis

It also shows that while brands from larger companies grew more during the beginning of Covid, we also saw a growth increase of online sales among smaller companies.

figure small companies growth

Source: McKinsey Survey: US consumer sentiment during the coronavirus crisis

What’s Next for Online Retail?

Online Retail needs to get closer to the customer and keep them in the conversation

As online retailers you need to keep your eye one the ball and keep up the conversation with your consumers. Getting closer to the consumer with Social Commerce or inviting consumers to share their experiences and needs with your brand.

Social Commerce

Selling through your social media channels not only provides another sales channel, you can also expect increased social interactions, reviews, recommendations providing a more interactive and immersive experience for your customers.

Invitation to Collaborate

Consumers like to share their experiences and their needs. If you have a healthy email marketing subscriber list, invite those subscribers to become part of an “Advisory Panel” for your products or services. Provide a survey and a compensation gift such as a free product or an entrance into a draw.

Who knows, it might result in a new product or service being offered that you just haven’t thought of yet!

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