Covid-19 was an unprecedented event that rattled 2020 and its aftershocks can still be felt on the retail businesses all over the globe. With nations going into lockdowns fearing the virus, the brick and mortar stores have been hit the worst. Customers have migrated to online stores and looking for home-delivery services. There is no doubt that the online retail stores are the winners of the pandemic and the future of the brick and mortar businesses is still questionable. There is a looming uncertainly that whether the retail stores would survive the pandemic’s wrath or would just go into extinction.
Concept of the brick and mortar businesses that backfired
These businesses operate from a physical location. They directly sell their services and products to the customers and operate as a physical store. The brick and mortar businesses are literally not built using brick and mortar. They are just general physical stores like the local coffee shop or the nearby grocery store. People usually prefer purchasing from these stores because shopping is a personalized experience and you get to ‘try before you buy’.
However, countries all around the world going into lockdown these businesses have been hit hard. Even post the lockdown many people are fearing to venture out and shop from retail stores.
So, are the customers not buying stuff?
Well, that’s not the case. Shopping acts like therapy for many and people staying indoors are still shopping every day. The only difference is that now the purchases are being made online and delivered at the doorstep.
Changes in customer behavior
During the lockdown, people have discovered the convenience of online shopping. As retailers are struggling to meet ends and worried about the declining footfall, online retailers are happy and busy seeing their sales shoot up. Retailers are looking for new and innovative ways to entice the customers into their shops, but the online market is booming as people with the purchasing power are still shopping and clicking on the ‘add to cart’ button.
Complement the brick and mortar store with digital retail
The pandemic has forced retailers to reevaluate their business models. The traditional model isn’t going to work until and unless you get into digital marketing and get people to notice your brand. Blending online and in-store retail can be a great strategy to stay ahead and beat your competitors.
Ways to get your business on track post COVID
The future is not bleak yet for the brick and mortar businesses. There are a few strategies that one can embrace to stay turn the table around and fetch in profits. They are:
- Open the doors for cashless payments
- Join hands with other local businesses
- Offer home delivery services
- Offer online customer care services
- Start taking orders online
- Go fully digital with your business
The pandemic was an unexpected turn of events, but as an entrepreneur, one needs to be ready for such situations. Unprecedented lockdowns should not lock your business. The best way out is to go digital and stay in touch with your customers online.Want to know more about how you can benefit by getting your store online?