Retail Observer

RETAILOBSERVER.COM OCTOBER 2021 50 M ore than a year and a half after the pandemic started, we're closing the chapter on how customers reacted during the crisis, and we're now looking at how it created permanent change. There's no denying the pandemic changed how Boomers, Millennials and Gen Z shop. Online stores and e-commerce solutions will continue to drive successful businesses well into the future. March 2020 saw 20% of Americans using a buy-online, pick-up-in-store service, and that number continued to grow – to 24% a year later. Consumers are researching the possibilities, finding what they want, buying it sight- unseen, and coming in to pick it up or having it shipped. In addition to store pickup, a recent EY survey found that 38% of consumers intend to do more shopping online, and only visit stores that provide great experiences. What this means is that one of the first impressions a customer is likely to have of your company is either your digital ads or your website. Understanding that reality should drive home just how crucial it is to have a website and consumer experience that leverages technology to provide a smooth and easy customer journey. Harvard Business Review suggests using the Four Cs to help make better marketing decisions, create more relevance with consumers, and build stronger human connections with your brand: • Content — Create engaging marketing content that focuses on gaining new customers and rewarding repeat customers. • Commerce — Have an excellent in-store and online customer experience. • Community — Create value by being an expert in your community. (Example: Hosting a Facebook live event on repairing or replacing parts.) • Convenience — Offer consumers coupons or benefits from a loyalty program. Retailers also need to consider who they're marketing to. And in this post-pandemic world there are certainly more ways to identify consumer segments, beyond basic demographic and geographic qualifiers. Consider these five consumer identities that the EY Future Consumer Index recognizes: 1. Affordability first (32% of consumers): Living within their means and budget, focusing less on brands and more on product functionality. 2. Health first (25%): Protecting their health and that of their family, choosing products they trust to be safe and minimizing risks in the way they shop. 3. Planet first (16%): Trying to minimize their impact on the environment and buying brands that reflect their beliefs. 4. Society first (15%): Working together for the greater good, buying from organizations they find to be honest and transparent. 5. Experience first (12%): Living in the moment to make the most of life, which may often make them open to new products, brands and experiences. Consumers are becoming more focused on buying from companies that share their values. It's a change in the retail business that is sticking around and that has caused discomfort as we shift our perspective. Ask yourself: Do I have a website that is easy for consumers to use? How can I make the customer journey seamless between online and in-store? Does my online and in-store product assortment match? How do I maintain the experience all the way to the consumer's doorstep? These are only a few of the questions we must ask ourselves as we try to create a customer journey that will provide multiple touchpoints and value along the way. Zach Moore B2C Marketing RO Zach Moore, Member Marketing Manager, Nationwide Marketing Group UNDERSTANDING THE PANDEMIC'S LASTING IMPACT ON THE CONSUMER

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