When are we flattening the curve? What will be the post-pandemic scenes of covid-19? How will the life that we get back to be different from the one we had in the pre-pandemic world? Will there be a lengthy impact on our routines and finances? - Everyone everywhere is desperate for the answers to these questions. As the spread progresses, definitely a new normal is emerging not only with respect to life and lifestyle changes but also with the economic conditions by bringing a huge shift in the shopping behaviours and purchasing habits of the masses. The shuttering of businesses and dying of jobs has already started putting the peoples’ paychecks and their personal finances at risk, forcing them to change their “preferences”. As this crisis continues to evolve, how will customer preferences change in the Post Covid World? With a lot of unknowns, though no one can exactly figure out what will happen, below forecasts will give an idea of what to expect. So, give this article a quick read and find out the answer to this burning question.
Customers will embrace digital commerce
The normal which people took for granted has come to a halt now. Simple activities like venturing into public domains or a trip to the nearby grocery store have become a risky move and demand people to be armed with basic weapons like a bottle of sanitizer and a mask. So, with new hygiene and contagiousness concerns, many people will avoid physical stores and push themselves into the online commerce pool. From basic staples to personal care products, from healthcare supplements to hygiene products, from gasoline to non-essential products, people may migrate online for shopping their necessities and ramp up their shift towards digital purchases. So, direct customer-facing companies need to rapidly adapt to this new habit of their customers and accelerate digital options with prompt development of digital functionalities to ensure their continuity of services and also survive the hard hit that the covid19 pandemic has delivered. Amidst this crisis, at the other extreme, some customers are also expected to get back to their old behaviours of rushing to city centres and shopping malls any time soon. So, keeping a real-time pulse on customers’ sentiment and their changing preferences is the key to any customer-facing company’s survival.
Simple Ways to take the business online
- Design and build a website showcasing products and services.
- Make a presence on social media like Facebook, Twitter, etc. by creating business pages.
- Build mobile apps and make the business stay within the customers arm’s reach.
- Have a standalone eCommerce website and build an online store.
Customers will grow love for local
Experts say that the products of local and regional players will fly off the shelves more and outperform the sales of market leader brands. The reasons like easy availability of the products and cost conscious buying behaviour of the customers are said to heavily contribute to this automatic buying of lesser known brands and hyper-focus on shopping local. However, this shift may short-live or may stick around for the years to come depending on the aftereffects of the pandemic. So, before the sales take a negative hit, local businesses should invest in establishing their online presence, formulating marketing campaigns, providing home delivery options, rolling out coupons and hefty discounts, delivering bulk versions of their offerings, etc. to retain their customers and become more profitable.
Customers will consume consciously
Customers will be more conscious of what they are adding to their carts than ever before and will think twice before making a purchase. While the focus on stocking up on groceries, medicine, cleaning supplies and other household essentials continues, discretionary spending on apparel, travel, transport and other dispensable things will witness a significant drop. In short, customer purchases will be centered on things that are more utilitarian than just attractive or luxurious.
Customers will limit their spending time
As thousands of businesses are going bankrupt and millions of people are losing their jobs, the economy will diminish drastically and personal incomes will fall sharply, which will force the customers not only to limit their spending but also their spending time. This condition is expected to persist until the economy recovers and income restores.
In the post Covid world, customers will be responding in a variety of ways and have differing preferences and purchasing habits. So, regardless of the industries the businesses are in, the brands should devise proactive plans to deal with the aftermath of the crisis and fulfil the customers demand in a dynamic way. This effective adjustment and adaptation will also make the delicate strides that every company takes to get their brand to the next level very easy and smooth.