It’s no surprise that COVID-19 has left us reeling. Governments, business, industry, and ordinary people now find themselves in a new world – one that defines human and economic limits based on global public health considerations before anything else.
The retail sector, still in shock, is trying to cope, especially where e-commerce is concerned. Changes in online shopping behavior in the wake of the coronavirus have not been subtle.
It’s also fair to say that the impact of the crisis won’t be limited to just a few chaotic months. In fact, online shopping will never be the same again.
How sweeping will the changes be, and how long will they last? Nobody knows for sure.
But one thing is certain: online retailers will have to adapt proactively if they don’t want to fade away.
A Whole New Game: Let Purple Dot Help You Make the Rules
If you’re an online retailer, the changes to come will force you to rethink your best buying and selling practices. You’ll be doing more business online, whether you want to or not – at least, that’s what the current numbers suggest.
We know that might not be what you wanted to hear. After all, keeping up with retail trends and buyer behavior, both online and off, can be tough in the best of circumstances. Figuring out how to cope with major post-COVID changes may be enough to drive some of you out of the market entirely.
And we think that would be a shame.
Your customers’ buying habits are already changing. Are you ready and willing to adapt?
News at 11: Panic and Patience for Online Shoppers
Listening to the news, even on a good day, is often an exercise in negativity. Most of the news is generally rotten, isn’t it?
Then there’s the coronavirus news. For months, it’s been way beyond rotten, and the lack of certainty about what comes next has fueled buyer panic. There’s been a clear surge in online transactions.
But time has been passing and people tend to calm down, even in terrible situations.
Online buyer panic has started to fade, and current trends suggest that more buyers are considering discretionary purchases. They’re slowly becoming less driven by a sense of lost control, or by fear that they’ll be deprived of essential goods.
They’re sticking around online for “want” purchases, and they’re becoming smarter and more selective in terms of the price and quality of the goods they’re looking for.
In other words, they’re adjusting to a new and changing reality. They’re becoming clearer about online purchasing practices and criteria, including price and bargain availability.
It’s Your Retail Moment -- IF You Can Seize IT
The harsh truth is that while the coronavirus crisis has caused chaos and human tragedy, it’s also created opportunities for online retailers to serve their customers more creatively.
This is a positive thing. You have a chance to present your offers to buyers in a way that saves them money and time. You can also find ways to offer them added control over their transactions.
In a post-COVID world, your online customers will REALLY like that.
Purple Dot: the Thin Edge of the Wedge
If you want shape online buyers’ behavior instead of playing retail catch-up as new trends emerge, you should look into Purple Dot’s smart discounting.
Smart discounting may be your key to shaping your customers’ future buying behavior. It puts greater control over pricing and discounts in their hands. It also means they never need to worry again about going store to store in the brick-and-mortar world to find the best price or the biggest discount.
They never need to worry about their physical security as part of the retail process. They get to control their spending for “want” purchases.
And you get to be at the leading edge of a trend in retail practice that can endure in times of market upheaval.
How cool is that?
Reach out to Purple Dot
Let Purple Dot do the heavy lifting in moving your online business into smart discounting. Your customers will thank you, particularly if they find themselves shopping from home for some time to come.