Though businesses are now reopening, many consumers may be reluctant to return to their previous routines or give up newfound conveniences, which means curbside pickup and contactless delivery are not going anywhere and retailers must continue to adapt. Read more…
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With retail sales doubling over the last decade, the beginning of 2020 was full of excitement for the retail industry.Â eMarketer predicted that total retail sales would grow 2% to $5.574 trillion, while e-commerce sales is expected to stay strong at a 12.8% growth rate to $666.28 billion. Meanwhile, retailers across all categories were steadily shifting toward delivering more personalized and curated shopping experience â€” online and offline â€” that grabbed consumersâ€™ attention. Read more….
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Coronavirus effects have been devastating on the economy. Online commerce sales have helped keep some retail businesses afloat, but not enough to offset losses from physical store sales. According to the research firm Forrester, retail sales may see a $2.1 trillion dollar loss globally, reinforcing that physical stores remain an important part of retailers’ success. Read more….
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Some good tips on how to handle your marketing during this period. Even with most transactions frozen, this can be a good time to talk to customers, experts say. But retailers need to send the right message.Â Â Read the article..
Care, creative thinking, and new tools can address customersâ€™ acute needs today and forge stronger ties in the post-COVID-19 era. This McKinsey article deals with 4 actions that deal with the immediate situation and prepares for the future. Adapting-customer-experience-in-the-time-of-coronavirus
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