Covid-19 has changed how the retail business works. The way customers buy is not the same as it was before the pandemic, for example, this year, online shopping has increased exponentially. On top of that, relations between customers and food retailers have changed.
Behaviors such as being ecological, environmentally friendly, and having sustainable offers, are of greater importance nowadays. Having the technological and logistical capacity to adapt in a small margin of time to a changing demand has become a necessary quality to survive.
Retailers have been forced to increase their technological capacity to make the lives of their workers and customers easier. In the United States, aspects such as online shopping and hygiene are factors that have increased their power of influence by 17% when choosing a supermarket. Purchase models such as BOPIS (Buy online / pick up in-store) and Grocery delivery, have increased by 28% and 57% respectively. It seems that these new trends have come to stay. To survive in this “new normal”, retailers must be able to focus and change if it’s necessary. They must adapt to market fluctuations.
Here are three steps retailers could make:
Step 1: Adjust promotions and products to the new market trends
E-commerce was a big trend even before the pandemic, but we’ve seen a rise in demand for products that did not have online-demand before. Necessities such as fresh food, flour, baby and household products, have experienced incredible online growth. For retailers, being able to adapt their promotions and their stock capabilities to these changes and channels, is essential. Retailers must work on omnichannel personalization strategies to foresee these variations in demand and be successful.
Step 2: Increase online and offline loyalty
We are all facing a complicated situation and showing empathy as a retailer is important. Having the right security measures in-store is now more important than ever. Security measures help the customer feel more secure and invite them to return to the stores, a huge driver of customer loyalty.
In the same way, having an accessible website, attractive, and easy to use is also important. Making the user feel comfortable while he’s purchasing online is essential to promote loyalty. All of this must be complemented with a good personalization and loyalty strategies. Retailers must offer adequate promotions that adapt to customers’ demands and be able to offer accurate communication through the right channel at the right time.
Step 3: Adapt or create new channels to reach customers
Retailers have to work on customer loyalty constantly. Customization is a good strategy, but must be complemented with an omnichannel delivery to have a solid marketing strategy. Having a website and physical stores is no longer enough. Retailers need to have a good, functional app, and a good loyalty program. Retailers have to be able to satisfy a demand that is increasingly omnichannel.