We're all hoping for COVID-19 to become a thing of the past. While we impatiently wait for numbers to drastically go down to zero, one thing is for sure, the landscape in which businesses operate has changed.
But as Redbubble's co-founder and chief executive Martin Hosking told The Australian this week, the one industry that is not going into reverse is retail and in particular, online retailers. Without a doubt, lockdown and isolation have exposed many more people to online shopping and Hosking predicts consumers "will continue to purchase goods that way, even as offline retailers get up back and running."
The rapid shift to online retail and the skyrocketing demand for online shopping (with Australia Post struggling to keep up with the rush!), are a reminder to retail brands (online or not) to dig deep into their customers needs and wants.
How and where are they consuming their information from? At what time of the day?
What strategies do you have in place to ensure brand love?
What tailored promotions are you pushing out to ensure customers keep coming back?
These simple questions will go a long way.
Specifically, more consumers that have adopted online shopping will continue to shop in this way. The underlying trend has been accelerated — it has not changed. Bricks and mortar were already struggling. That is not going to reverse.