The COVID-19 pandemic has brought many changes to the retail industry, changed consumer behavior, and created a ripple effect of changes in the eCommerce landscape that will be felt for many years to come. In fact, recent surveys indicate that a massive decline in retail sales in April alone in the United States. But in exchange, it also caused an inadvertent shift in consumer spending as most of their purchases are now done over the internet by over 20.5%.
With that being said, how retail marketing professionals respond to consumer tendencies this COVID-19 outbreak? Get to know the details as we are tackle this topic in today’s entry.
Consumers Are Now Expecting More From Retail Marketing Professional Than Just Promoting Products Or Services
According to a survey conducted by the Intelligence Node, 59% of the people who are participated in the survey said that they are more inclined to patronize brands that have a proactive effort in being part of the solution as a whole, and will likely to shop to these retailers until the health crisis is over.
And because of this, retail marketers have to be very sensitive to what products to services to promote to drive sales to the general public. To be specific, they have to focus now on marketing brands that are making a conscious effort to fight the negative effects of the COVID-19 crisis. Moreover, retail marketers have to be very cautious in the way they deliver the message to consumers to capture their interests exclusively.
Conforming To Consumer Expectations To Dominate Market Share
Retail consultants and marketers also have to be sensitive to the needs of the consumers based on their income brackets. In the same survey, it was found out that more than half of the participants will expect online stores to shift their products into essential items such as face masks, face shields, alcohol, sanitizers, disinfectants, and ventilators. Also, people under the $25,000 bracket are likely to shop in online retail stores that will offer the essential items as mentioned above, while people with a lower income bracket are likely to remain loyal to brands if will pitch in to help with the current crisis.
Such information can be helpful to retail marketers in conceptualizing the right campaign according to their target consumers and grab the majority of the market share this COVID-19 pandemic.
Consumers Are Now Aware Of The Importance Of Supporting Local Retailers
While big brand retailers continue to get the most attention, consumers are now aware of the importance of supporting local retailers because it’s their way of helping these businesses sustain operations during the outbreak. So retail marketers also have to invest in promoting these small businesses to keep their heads above water.
Overall, retail marketing professionals have to go the extra mile in attracting consumers to a specific brand. And whether they are promoting stores with proactive efforts to fight COVID-19 or supporting local retailers, what really matters is creating a trusting relationship with customers in these uncertain times that will ultimately result in a stronger bond even after the coronavirus crisis is over.