How retailers can counter Covid-19 challenge

Retail industry is facing unprecedented challenge due to Covid-19. Customers are adjusting to new normal in form of social distancing and in some cases isolation too. Retailers are scaling back the operations and temporarily shutting their doors out of concern for employees and customers, and local administrations are mandating closures and curfews with great uncertainty as to when all this will end.

In fact, entire retailer’s ecosystem is feeling the fallout of this crisis. Things may look temporarily gloomy in this climate but these situations also create new opportunities. I am talking about ways for retailers to adjust their operations, keep customers and employees happy and perhaps set the stage for a new way of working after the worst of this pandemic is over.

All of us are doing our bit to adapt to situation in our own way. From retailer’s perspective it’s very critical to gaze this behavioral change early.  Our customers are stuck at home but it does not mean that they don’t want to look good, eat right and feel good. As people are adjusting their lifestyles, self/personal care is top of mind. Probably they have more time to look at the information as a brand you can give it to them. So it is a good to engage with your customers with relevant content.

For fast fashion retailers, instead of talking about regular catalogue, perhaps rebrand some of your collection as “work from home wear”. Launch new collection around active carbon clothing. Highlight unique or unexpected product adjacencies to keep things interesting.

Staple food retailers: Emphasize on healthy meal preparation and educate customers on how to work with fewer ingredients.

I was delighted to see how beautifully Apple stores in India pithing Apple care plan to the customers. Similarly, electronics retailers can pitch extended warranty and support plan.

On the beauty side, think about featuring video how-tos and encourage customers to try new products and looks that might not be as risky now that she can experiment in the comfort of her home without having to rush out to the office.

Suppliers and vendors are dealing with the same issues retailers are, so keep abreast of their situations, how their limitations will affect your business, and communicate with customers accordingly. Manufacturing and distribution workforces may be reduced, which will have a direct impact on your ability to meet customer demand. You likely alert customers when items they’re browsing are low-in-stock –, now, given the speed with which certain items can disappear, consider adjusting the criteria that trigger a low-in-stock notification. When items do sell out, allow customers to easily set up back-in-stock alerts and make sure the updates you provide are timely and accurate. 

In these times, it is imperative to connect the online and offline worlds to create closer, more efficient, and human customer experiences.

Use QR codes based engagement to create non-touch experiences. Allow customers access to endless aisle to browse your catalogue and inventory without human interaction.

Make it easy for customers to engage with you digitally through educational content, such as tutorials and guides that explain how to use your mobile app or journey through your website. 

Keeping your customer happy and engaged can pay huge dividends when the crisis is over.