Much of the retail sector has changed over the last few months. Some retailers are closing their doors, others are moving their business online, and still others need extra help to get back on their feet. Retail is changing and evolving post-COVID19 and creative entrepreneurs need to change with them!
This reminds me of the 2008-2009 downturn in the economy. Even though I was a successful sales representative at the time, everything seemed to change overnight. I saw some of my best retail stores disappear — some even before I had a chance to tell them goodbye. It was a difficult time for me as many of those buyers had become close friends.
But this time is a bit different than those days and with a little shifting, I think we can make it through.
Lela Barker with Lucky Break Consulting recently posted an article: 10 Ways 
Retail Could Change After the Pandemic. Many of her points warrant a solid plan of action for the coming months.
Here are some of her insights:
A SUSTAINED SURGE IN ONLINE SHOPPING. E-commerce jumped a whopping 49% percent in April of 2020, and I don’t anticipate that this is a “flash in the pan” trend. Several analysts have suggested that the pandemic hit the “fast forward” button on America’s migration to online shopping by shaving 5-10 years off the timeline. …
EVEN MORE EMPHASIS ON FREE SHIPPING. Amazon Prime has trained American consumers to expect free shipping, and we increasingly turning our noses up at hefty shipping fees. If you haven’t already, consider implementing either free shipping above a certain threshold or reasonable flat-rate shipping. Remember that free shipping is an incentive, and incentives are designed to get shoppers to act sooner or spend in larger sums than they otherwise would. …
GREATER DEPENDENCE ON “BUY NOW, PAY LATER” SERVICES. As consumers feel the economic strain of the pandemic and ensuing lockdown, they’re exploring ways to fit coveted indulgences within their budget. Buy Now, Buy Later (BNPL) services enable shoppers to instantly apply for a small loan at checkout on your site. Essentially, a third-party vets the applicant makes a quick lending decision and manages the loan in its entirety while shielding your company from risk …
SHOPPERS DEMANDING BETTER ONLINE EXPERIENCES. Take a look at your website and checkout process with fresh eyes. Is the navigation clear? Do the “add to cart” and “checkout” buttons pop off the page? Is the checkout process quick and intuitive? Are your product descriptions clear, complete, and compelling? Are there multiple product reviews for each product? Is your contact information easy to locate?
INCREASED ENTHUSIASM FOR LOYALTY PROGRAMS. E-commerce loyalty programs reward shoppers with a variety of benefits. They offer tremendous flexibility for merchants who are eager to turn casual shoppers into loyal fans. Think: free samples with each order, point systems that earn free shipping or future discounts, and early access to new products. …
Now is the time to get creative with your business as retail is changing and beginning to re-open!
