The COVID-19 pandemic has brought the world to a standstill. Since more than half of the world is in lock down mode, consumers are staying within their homes. They are spending money on buying essential items, which is why the retail industry is going through a crisis. The following article talks about 5 ways retailers can reach consumers who aren’t spending during the COVID-19 crisis and can minimize their losses.
1. Communicate effectively
You must communicate the steps you have taken to curb the spread of the virus. You can send emails periodically that state the safety protocols and sanitation procedures that you have adopted to keep your store/outlet clean and free of germs.
2. Increase customer knowledge
The retail industry is heavily dependent upon customer knowledge – what they like, what they dislike, what they aspire to own, how much are they willing to spend, customer buying patterns, etc. The COVID-19 pandemic has given birth to new needs, and retail companies need to know them.
3. Use digital methods to engage
Since the implementation of the lock down, people aren’t allowed to venture in the streets. This has caused a huge loss to the retail industry that is over-dependent on brick and mortar stores. It’s time to make a shift towards adopting digital methods of selling. Three things that you should start with are:
- Set online payment methods
- Create a mailing list to update your customers about new products daily
- Conduct team and client meetings through video conferencing tools.
A retail CRM will come to your help.
4. Provide a better customer experience
Find ways how you can provide a better experience to your customers. A retail CRM can help you in the following ways:
- Enable chat bots that can provide access to important information to customers and record their pain points.
- Create an FAQ section where customers can get answers to perennial problems.
- Enable digital methods to buy and cancel products.
- Automatically return cancellation fees to the account linked with the customer’s profile.
5. Cement long-lasting relationships with customers
The retail industry is suffering at the customer relationship front. But enterprising businesses will find opportunities even in a barn of hay. Find new offerings that encourage customer stickiness. For example, Netflix and Facebook have come up with watch parties where friends can watch a movie together from the comfort of their home. You can also give gift cards that can be redeemed online.
The COVID-19 crisis has dismantled the way the retail industry works. But this is the right time for learning new skills, upgrading yourself, and planning for the post-COVID-19 world. This is where we can help. At Sage Software, we are home to world-class Retail CRM software that helps you streamline customer data, manage and schedule orders on-the-go, and has a convenient billing management system. To know more about it, SMS SAGE to 56767. You can also write to us at email@example.com.
Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.