Coronavirus and retail marketing: a challenge with a strategic solution
The exceptional restrictive opening measures on establishments after the legislative decree was passed on 15th March is having a significant impact on retail marketing. Buying habits have been forcibly changed due to the effects of the coronavirus pandemic, and the big challenge for retail has become about suddenly adapting its strategy in order to keep its consumers loyal.
Customer buying habits have changed all of a sudden. Reconsidering the strategy in light of the ever-changing situation is a new challenge for retail.
The impact from the pandemic has meant that initially the consumer has had to go back to the most basic necessities of Maslow’s pyramid, consuming mainly basic products such as non-perishable food, hygiene and cleaning goods. We will need to see further down the line as the isolation continues how consumer buying habits evolve once people are more settled; some experts believe that maybe then society will be interested in other types of purchases.
#Covid19 can be seen as an opportunity to reinvent oneself and to generate value proposals that will keep the target public loyal.
Companies need to look at this crisis as a chance to evolve. Consumers are still there, so they need to stay in contact with them, mainly by way of technology and digital channels. The key is to create new experiences and to be in contact with the consumer, so that when they have got used to this new lifestyle or when it is over, they will still look for us.
It is the chance to bring together brands and consumers in light of this change in context and reality.
Post-coronavirus opportunities for retail marketing
Retail marketing needs to perceive the situation as a challenge with a strategy rather than a problem. At Evvo Retail we present three opportunities that have come about from the pandemic in order to respond as a brand to this new context and to give added value to this new reality.
Innovating and creating emotions
It’s time to boost creativity and readjust to the new situation, creating strategies that will capture the attention of consumers that are isolated from society. In light of this unusual situation, opportunity is about creating something different that will make us stand out.
Brands have the opportunity to empathise with the consumer and to act to improve people’s lives: helping them to adapt to the new situation and supporting them in the change of habits, providing them with new solutions and services.
Digitalisation as a priority
Non-food and basic necessity retail needs to take advantage of the digital channel to stay in contact with clients, providing them with value and continuing to develop loyalty strategies so they are always on the consumer’s mind.
Due to the uncertainty of the crisis, many business owners have seen e-business as an entry point for survival as well as an opporunity to boost their digital growth.
Creating strategies focussed on the consumer
More than ever before, we need to create strategies that will show the brand’s commitment to the consumer and make the company seem more human. In this aspect, we must take into account the environment and the context that the consumer is in, and offer adjusted services during isolation, considering their current needs and guaranteeing safety (for example, home deliveries).
Customer service needs to be superb. We must strengthen the positive impact at this time of uncertainty so that the consumer doesn’t find themselves helpless at home.
With today’s uncertainty, it is important that companies respond quickly in creating strategies that will face this new period; they must design plans while considering lengthy recovery periods and contemplate different scenarios in order to keep everything under control.
The mistake? Becoming passive and falling off the consumer’s radar. Contact us and reconsider your retail strategy.