Closing offices and keeping people self-isolated would have been unthinkable in 2000, but today we have the technology to easily work from home. More importantly, it also allows us to shop from home
We are aware that this is a moment of uncertainty for the world, not only because we are afraid of the pandemic, but for the imminent recession of the global economy.
The thing is, online stores have the opportunity that offline doesn’t have, and the path is clear, you only need to check the behavior of China and Italy, even though they are different, they both shows how to fight and avoid the collapse of ours stores and services. For instance, JD.com, China’s largest online retailer, has seen sales of household staples such as rice and flour quadruple against the same period the last year. There have also been more than 222 million downloads from Apple’s online store in China since the beginning of February, a surge of 40% compared to the 2019 average.
Consumers are more likely to turn to online shopping as they seek to avoid risking infection in crowded spaces such as grocery stores. If we are smart and not afraid to change, this will be the new era of retailers. And the ability to response quickly is vital on the game of selling and delivering.
Here are some tips for keeping you on board.
It’s unlikely your customer has seen all you have to offer. How you promote a product you’re currently retailing still has the potential to create excitement. You need to be creative and on top of the changing narratives regardless of the coronavirus, that way you seem updated and someone who understands the problem.
Get your future assortment right
The wrong investment on stock can seriously impact on retailers or brands ability to manage coronavirus or the outcoming of the global recession. What you can do is tighten your operations by cancelling unnecessary orders, that way the assortment goes to a minimum, meaning less costs. Consider local suppliers, is a good way to avoid risk of contagion and you’ll help your neighborhood to be on float.
Reconsider your discounting strategy
As we were saying, this is the time for changing, and keeping up with the market trends right now, you surely have seen a lot of discounts on this pandemic. Stay with the ‘instant gratification’, consumers are buying what they need now, and you have an opportunity to align yourself closer to your customer’s needs.
Focus on the customer experience
With all of this chaos around this outbreak, it is important to keep customers on a sight. Talk to them in a clear and direct way, announce ahead of purchase if your delivery methods have changed due to the pandemic. You need to be extra aware of address those frustrations due to coronavirus that way you’ll give them a positive impression that can become brand loyalty to you in the end and we all now that’s the customer we want to maintain.
That being said, we have an amazing offer for you: Pay what you can! from March till July 31st.
As always you can schedule a free 1 on 1 call with one of our conversion experts right here, we´ll be happy to help you make sense of your data and give you some ideas on how you can use it to be successful in this crisis. Schedule it right here