The world economy is gradually gaining momentum after the lockdowns and business disruptions caused by the Covid-19 pandemic. In the last one and half years, the pandemic has affected the world in different ways, which has significantly affected customer journeys across all sectors of the economy. While some of these changes are temporary, others could be a permanent. The economic downturn, job losses, reduction in disposable income, shift in tastes and preferences and digital transformation by business organizations to cope better with the pandemic has transformed consumer journeys.
A survey done by eMarketer found that a 27.6% surge in retail eCommerce sales. McKinsey reports that the growth in online sales in eight weeks was observed to the same as in the last decade. As far as consumers and possible future shopping habits in the three key sectors, retail, travel, and finance, is concerned, the following are the noticeable trends.
What has changed
Today consumers are increasingly using smart devices to get all the information they need for making informed decisions. The interaction between brands and consumers nowadays happens on TV and devices digital devices with the share of the latter growing quickly.
The consumers want to be made to ‘feel special’ and ‘be assures’ that the products and services they purchase are safe and healthy, and provide them with unmatched convenience.
Pandemic has resulted in shopping moving to online platforms. Some of the trends that can be easily noticed include:
- Increase in online shopping to meet varied needs
- Decrease in physical shopping frequency
Omnichannel is the new black
Although digital transformation worldwide has shifted brand information mining to the ‘Search tab’, offline touchpoints are not yet completely obsolete. Being omnichannel is as good as it gets for brands. In-store shopping, live customer interaction, launch and trade events, curbside pick-up and delivery, etc are some of the hybrid consumer experiences that brands offer today. The crux lies in complementing tactile experiences with contactless and secure payment options, online reviews and videos for real-time customer feedback and convenient capabilities for online ordering and fulfilment.
Amp up your online search strategy
Brands should consider having their online strategies in place to cope with the sticky purchase scenario. Real-time delivery of the most relevant information to meet the consumer needs will go a long way in maximizing brand presence, engagement and online reputation.
Brand’s official site and app are key assets
As consumers are going online to look for relevant information to make informed decisions, it is imperative for brands to have a great online presence. Brand websites and apps should provide a memorable user experience to enhance customer recall and consideration. The content should be persuasive and should address key pain points of customers.
The need of hour for brands is to cope with the evolving customer journeys. A careful look at transforming consumer behaviour is crucial to understand customer journeys better. It will enable brands to take remedial measures in time to enhance customer acquisition and retention.
Adapt your business with evolving customer journeys? Log in to www.pulpstrategy.com to connect with our Strategists.