The covid-19 has turned the world upside down. So many people lost their lives. The majority of the businesses were affected by it, and half of them were forced to shut down, causing people to lose their jobs. Worlds’ economy was hit badly, as changes in consumer behaviour, supply chains, and market routes knocked the company off its feet. It has been impossible to stick to the traditional ways to run the business. By changing the traditional norms, it is possible to take control of your company and serve the customer better way.
Nowadays, eCommerce has been essential for retailers. But there are some small businesses and retailers that have been running their business successfully, without eCommerce. Most of the small businesses don’t understand the concept of eCommerce. They didn’t feel the obligation to invest in the eCommerce business.
Brick-and-mortar businesses don’t have much eCommerce experience. They are reluctant to hire new employees, spending money, and change the whole attribute of their business. They are comfortable with their current lifestyle. Mike potter, the co-founder of rewind, says that local merchants are happy with the business they have. They know their regulars, and they are much satisfied with that.
Brick-and-mortar businesses are closing rapidly across the globe, creating an opportunity to open an online store. The majority of people are still afraid to interact with others, thus they are opting for online shopping. However, many countries have banned international shipping. It crafted an opportunity for businesses to shake their hands with local merchants. For instance, if a clothing brand was importing their material from out of the country, they are now tying up with local merchants for the material.
Businesses started to find an alternative for the lack of resources. Here are a few ways you can adapt to survive in the market.
- Adapt to the changing environment:
Lookout for customers’ behavioral changes and localize into shifting customer situations and requirement patterns. Implement new trends and assess new indicators, such as public health data.
- Reimagine your customer services:
Be quick to respond to the customers, modify your products, and make your services customer-centric. Prioritize the right audiences and give them a personalized shopping experience.
- Establish a rapid working model:
Your business should involve servicing strategies, messaging, and proposals. Adopt innovative ideas to increase customer contact and create new opportunities.
- Invest in digital marketing:
Marketing is essential for any business. While people are reluctant to go outside, train your team for digital marketing. Digital marketing has a high scope in the internet-centric era.
As the majority of businesses are suffering due to the pandemic, retailers have to adapt to the “new normal.” This “new normal” will help the businesses get their loyal customers back and ensure a long run for their businesses.
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