The destruction of the coronavirus pandemic continues to rip through the retail industry. Many retailers have struggled to survive and shop fronts have been forced to close their doors for good.
However, it’s not all doom and gloom as the industry must prepare to pave the way for new shopping trends. Today, we will be discussing how Wisconsin-based retailers can adapt to post-pandemic shopping trends in order to survive and keep their doors open.
Extended Product Ranges
One thing the pandemic has brought to light is the popularity of certain categories. For example, studies have shown that consumers are shifting towards wellness and the demand for products like loungewear and self-care have grown drastically. If retailers want to cash in on this demand, then they can look into expanding their product range to meet the need for these specific products. If you are a clothing company, for example, then it is a smart idea to bring out a loungewear collection not only for profitability, but it will also work wonders for your business exposure.
Jump To Online Retail
During the pandemic shops have been forced to close for long periods of time. In order to get their retail fix, consumers were forced to switch to online retail in order to get hold of the goods they needed. Ecommerce was thriving and it doesn’t look like it is slowing down anytime soon. Online retail sales increased 32.4% year over year in 2020 and are up 39% in Q1 2021.
Retailers must adapt to survive and if you don’t have a platform to sell your product/services online then now could be the time to start. It would seem that the rise in ecommerce is continuing and many businesses who haven’t yet adapted to this trend could be losing out on a lot of potential profit.
Insure To Protect
Since the pandemic, retail has become uncertain. Shops are being forced to close and then re-open again at a later date. One thing that is hugely important is the protection of your business during these times. It is crucial that your business has the correct cover to protect you against damage to your products and property as well as issues such as injuries. You can get insurance for Wisconsin based businesses online and there are a number of packages for you to explore to ensure that you get the correct cover for your business. During these uncertain times, protecting your business has now become more important than ever.
Offer A Personalized Experience
Consumers are not only buying online and there are some steps retailers can take to help drive customers to their stores. It’s time to think outside the box about what you can offer your customers in-store as opposed to online. The answer for this is simple. You can offer them a personalized experience. Customers can try products in the flesh before making a purchase and they can benefit from gaining product knowledge from speaking to personal shoppers. Adopting these tactics can help keep your in-store retail alive.
This same tip can be carried over to your online stores too. If you are a clothing brand you can arrange personal shopping appointments via video call or even offer to do digital try-ons. Personalized shopping experiences have become a huge trend in the retail world and could be the bridge between your company and its survival.
Make Your Website Mobile Friendly
If it is one thing the pandemic has uncovered, it is thousands of people across the country use their cell phones heavily to search and purchase good online. Many Americans – 97% – now own a cell phone of some kind. So, it is no surprise that shopping online has also increased dramatically.
If your company’s website isn’t cell phone friendly, then now is the time to make that switch. You could be missing out on hundreds, if not thousands of potential sales. Having the ability to make a purchase from your cell phone is quick and reliable. Retailers should focus as much time and energy into making a cell phone friendly site just as much as the web store itself in order to maximize revenue in the future.
