eCommerce Strategies to Adapt as COVID-19 Impacts Shopping Worldwide
We are currently faced with one of the most daunting challenges in recent history and dealing with its impact on a daily basis has become a necessity. The COVID-19 pandemic took the world by storm and caused profound economic disruptions globally.
This unfortunate situation has led people to a stage of panic prompting them to make impulse purchases, buy in bulk and hoard other goods and health supplies. With the sudden turn of events, new laws and rules took place. And it swiftly turned the world into a different place.
As more businesses are closing and a substantial amount of goods and supplies on the shelves are declining, people are slowly moving to online shopping. At the same time, keeping them away from going outside where there is a higher risk of transmission of the disease.
In times like this, many areas of brick-and-mortar businesses are struggling and some have been forced to shut down. However, another opportunity opened that yielded other industries to flourish. The eCommerce is given an opportunity that also helps in keeping the economy afloat during this troubled time and puts ease to every distraught human being.
Long before coronavirus existed, eCommerce had already paved its way in transforming the way we shop. Gradually, people prefer online shopping over the conventional method of going to physical stores or outlets. Practically, it is accessible, convenient and keeps you from a swarm of people.
COVID-19-Adaptive Strategies for eCommerce
Coronavirus and substantial fallout of consumers have considerably affected commercial businesses to conduct their regular shopping hours. Whether your business is strictly online or a supplement to your physical store, coronavirus has greatly inflicted an enormous change one way or another.
While the world is slowly adapting to its new normal on procurement of goods and supplies, here are some engaging COVID-adaptive strategies you can implement for your online store.
Evaluate your consumers’ demand
Identify your target and ideal customer groups. Evaluate what they need specifically, know their concerns, and assess your readiness to further meet their demands. You have to anticipate and consider your options, whether you have the capacity to sustain their needs and demands.
Availability of supply chain
Once you have identified and evaluated your specific target or ideal group of customers, there are several factors to consider. Basically, in this current pandemic situation, you are likely to encounter a surge of demand for your online store and this could become an issue. Due to the fact that every human being in a community has been advised to stay at home.
Call your manufacturers and know where they stand on the production, are there any substitutes, what are the impacts of coronavirus on their business that should be disclosed ahead of time. It is best to keep yourself informed and know what to expect about all the aspects of your supply chain. This way, you can weigh your options and opt for a better solution.
Look for alternative suppliers
Gradually, consumers will turn to online shopping. A surge of demand and a shortage of supplies should be expected early on. Do not wait for the inevitable situation to happen. Eventually, it may cause supply chain issues. In this case, it is wise to have additional resources beforehand as the situation evolves to help you alleviate the risk.
Manage carrier options
Due to the depth of this pandemic, shipping carriers are limiting resources in certain areas. Some shipments may take longer to reach their destination. Check for changes in their pickup time and day regularly and negotiate if necessary.
One of the most significant indicators to a successful business is being able to recognize and fill the needs of your consumers. Think about how you can shift your approach to better serve and assist your consumers’ needs, even please them in these troubled times.
Some stores began stocking related new items, even their featured items of existing products that are important and relevant on a daily basis.
Promote social messaging
Social messaging or web-based live chat allows you and your consumers to better accommodate the requests and facilitate any changes or increase in their order values.
During this time of uncertainty, you want to make sure to communicate with your customers and let them know as much as possible if any of your services will be changing or products that are selling out more quickly and is it possible to look for an alternative.
Be transparent and provide all the necessary information as much as you can. Managing your customer’s expectations early on will likely give you satisfied consumers despite the fact that you are experiencing a slowdown in your service.
Consider offering discounts
A progressive decline in jobs may increase price sensitivity in some shoppers or consumers due to economic uncertainty. A better product offering, a special price or discounts on certain items that have a higher demand, this strategy is a good way to draw the shoppers interest.
Existing customers or not, there’s no way this type of strategy will be turned down. Given the situation, customers are more active than ever online. Compensating them for shopping on your online store is the perfect way to keep them coming back. Loyalty program encourages consumers to regularly shop with you. Apart from the fact that you’re ensuring the stability of your business, you’re also ensuring that customers feel appreciated and valued.
While the impact of COVID-19 has greatly affected the preferences and demands of consumers for supplies, online shopping will be society’s new normal while waiting for this pandemic to come to an end.
For businesses, this is a great time to market your eCommerce store and expand your purchasing options with our practical and effective strategies. With the current situation that we are facing, it is helpful to make small changes in response to satisfying your customers’ needs and demands who are confined in their homes.
Coronavirus has greatly changed the world of eCommerce. Some of these changes are great and some are real hurdles. And how you respond to these changing and troubled times is all up to you.
April 12, 2020