Customer Value In A Time Of COVID

Robert Hazeleger
Customer Value In A Time Of COVID

COVID-19 has rapidly accelerated digital transformation; resulting in unexpected growth across the eCommerce sector as online shopping grew exponentially in a short period of time. Retailers have had to be creative. When there were logistical challenges, they used smart logistic solutions. When stock levels dwindled, they were strategic with their inventory.

However, although stores are opening again, it seems as though the future lies in what we might term ‘hybrid’ shops. Looking ahead, it’s now of prime importance that eCommerce businesses employ strategies that will help them continue to be successful as we move into a changed, post-COVID world.

Shift In Consumer Behaviour

The pandemic led to an unprecedented shift in consumer trends – one that has called for new ways of doing business – prompting bricks and mortar companies to adapt their entire business models and implement the necessary infrastructure by investing in tech.

People got used to online shopping during the pandemic and their habits changed. The variety of products bought online has increased. Take grocery shopping, for example, or hygiene products – as well as home furnishings, decorative items, and office equipment – which all gained momentum. Even discretionary categories such as skincare and makeup, apparel, jewellery, and accessories grew in terms of online

Impact On Return Policies

Another important issue worth considering is the newly-created demand for return policies – which can be challenging when it comes to the large items. Retail stores have to meet the changing habits and expectations of their customers if they want to stay in the game.

Overall, the growth in online shopping calls for more flexibility in terms of range of goods offered, delivery, and returns. All of this incurs additional costs retailers have to deal with. Moreover, the competition is increasing and businesses are urged to work with lower margins. To respond to these challenges, retailers have to come up with creative strategies to increase sales.

That said, improving customer experience and offering value in the form of logistics, guarantees, and services, will help them stay ahead of the competition. After all, people will still pay more for better service and retailers need to find their ways to keep their customers loyal.

If you are looking to implement what it takes to drive engagement with your target market, don’t hesitate to reach out to the team at Cursum who can help you respond to changing customer needs.