Multichannel Retailing in the Age of COVID-19: Key Strategies to Adopt

by Tech Addict Writer, Blogger

What the world had initially assumed would be just a few weeks of lockdown has turned into a pandemic that continues in full swing even after over a year. So, suffice it to say that the coronavirus pandemic has truly changed the world as we know it; and it is not just how we go about our daily lives, but also how we do business.

Some industries were already operating online, some were able to make that transition and survive. Survival tactics apart, there is still one industry that was easily among the worst affected in the world: The retail sector. The reason? That is obvious — the lockdown, of course, as well as the eventual need to maintain social distance even when governments across the globe lifted restrictions. Now, as the sector continues to pick up the pieces and continue on the journey to return to normalcy, there are some realizations and challenges the sector must acknowledge.

Sure enough, most governments have lifted pretty much all restrictions, meaning retail stores are back in business. Unfortunately, that still doesn’t mean it is business as usual. First, retailers must now adapt and adapt quickly. Second, they also need to put together a future-proof strategy that will allow them to survive the blow dealt by another such global occurrence, if not completely alleviate the challenges that come with it. Interestingly, there’s one thing that offers hope in this regard: multi-channel retail. Studies have found that the best online channel growth rates were achieved by retailers who offered multichannel services.

So, we put together a list of some multichannel retail strategies that you must consider as the world continues to battle the coronavirus pandemic.

E-commerce is not optional anymore: E-commerce was a challenge before the pandemic struck, but now it has been rendered a critical means of survival for retailers. But don’t think just about any e-commerce website will do; so be sure to properly understand your target audience, the latest trends, etc. and integrate modern technologies to deliver the kind of experiences your customers want.
Buy online, pick up in-store: In the face of COVID-19, buy online, pick up in-store options have managed to become quite the rage in the sector. With the pandemic showing no signs of slowing down, they will be rendered even more important. So, adopt such options and means to inform your customers of their availability. Use SMS and email marketing plans strategically to achieve intended results.
Continue investment in modern technologies: As time as well as the pandemic has shown — technology will help you sail through pretty much anything. Plus, they have also been known to be highly effective when it comes to enhancing customers’ satisfaction and delivering better shopping experiences. Long story short, retailers must keep up investments in technologies that will help you with ensuring agility, effectively tending to customers’ expectations, innovate with marketing campaigns, and more.

It is clear to see that retail, in all its different forms and sizes, is here to stay, even as the world gradually overcomes the challenges posed by the coronavirus pandemic. The only matter that one must, then, figure out is the right strategy for your business. Now, as the above discussion demonstrates, a multi-channel e-commerce management system is a highly recommended way to go. With that being said, no matter the strategy you choose, be sure to base it on the bigger, future-based picture and goals.