As a Retailer, you are already anticipating some permanent changes in consumer behaviour. Therefore, consider not to reinvent but rather re-adjust the wheel for the road ahead so your digital retail business stays on track.

Tip #1: Expand the digital store

By including engaging content and relevant product information, the digital store helps brands to connect with customers. It helps to diminish the differences between brick & mortar business vs online-only businesses.  The shelves in the digital stores must provide detailed information on product description, ratings & reviews, images & videos, pricing, availability & promotions, if any. The advantage of digital products is that you can display the products despite the fluctuation in demand and can make them available when the demand is high.

Tip #2: Seamless Customer Experience

Using an Omnichannel model allows a seamless customer experience. Consumers currently rely heavily on online channels to buy essentials and non-essentials. Retailers need to be able to streamline their delivery models to support increased demand in online orders. Sometimes it is not necessarily an online channel, but new engagement models like buying online & picking in-store are also becoming increasingly popular.  Also, increased buying through mobile apps has created a new demand for mobile apps.

Tip #3 Build strong customer relationships

Retailers must stay in touch with customers through the trough period to build lasting relationships. As a Retailer, you must personalise your interactions with your customers. Retailers can achieve Personalisation by engaging with customers on a social media channel, chatbots & other customer-friendly tools.  Communicating regularly through emails with customers to not just sell but to keep in touch will help customers bond with your brand.

Tip #4 Create a sustainable Product Information System(PIM)

Having all the information about your products in a database can help disperse consistent information on the product efficiently. Selling products through different distribution channels like websites, mobile apps, social media platforms, the digital marketplace becomes more manageable by having a single source of information. Moreover, the information accuracy helps the customer understand more about their product & hence fewer returns & disappointments.

Tip #5 Reset Your Strategy

The traditional way of operating will not work for Retailers anymore. It is not only the digitalisation of service but being creative & responsive to customer needs is a prerequisite for the online channel.  It may not be the right time for aggressive expansion plans; instead, a slow, cautious step could be a reliable strategy.

Plotting the different consequences of the COVID -19 pandemic help retailers to prepare well ahead. In this process, retailers must review consumer behaviour changes and develop macroeconomic perspectives based on potential economic impact across key markets and categories.

Please let me know your feedback & thoughts on the tips by emailing me @ info@hkadvsiory,co.uk. You can also contact me for further advice by connecting at https://www.linkedin.com/in/raji-vaidyanathan