Yes, the shoppers WILL be returning. But boy, have they learned a lot during these pandemic times. They are far more comfortable with online shopping, and in many cases, eager to continue that. And the convenience of "contactless" features like curbside pickup and BOPIS (Buy Online, Pickup In Store) are welcomed. In fact, an extensive survey from McKinsey & Company* provides considerable detail about the newly-learned online shopping behaviors of customers, and their expectations of continuing to use these new-found skills.
Particular changes with presumed staying power:
But hold it. Wait just a minute. Our countervailing view is that the "homebody economy" will wear thin. And while customers do care even more about basics and value, especially when it comes to Holiday shopping, they will want "special."
These are the shoppers who will welcome the chance to shop in-store. But be ready. Many of them will feel like they are coming to your store for the first time. And they are more discerning than ever! The key is: what will they find when they enter your store? Here are a few "musts."
This truly is your second chance to make a good first impression. Make it fun for you and your shoppers! ----- * The great consumer shift: Ten charts that show how US shopping behavior is changing. Tamara Charm, Becca Coggins, Kelsey Robinson and Jamie Wilkie, McKinsey & Company, August 4, 2020.
So, say you have re-opened your stores. Then what? Did the customers come back? Or, were many of those who did show up just there to say "Hello!" And "We missed you!", but not to buy? Sigh. We are not surprised. And here's why.
The constant challenge for retailers is to anticipate what their customers really want. And this year, there seem to be plenty of choices available.
It is all part of the on-going challenge of retail; the art and craft of being a merchant. Then there are the customers who are reacting to the constant drumbeat of news about supply chain issues, merchandise shortages, and looming price increases by starting their shopping early.
Adding to this stampede, some major chains were launching their Black Friday specials before Halloween!
What is the definition of "value" for customers? Pretty straightforward, actually.
Wait. What? "Benefits received?" "Burdens endured?" Turns out, the only single answer to "What is value?" is, "It depends." Don't just roll your eyes. What constitutes value for your customers increasingly is a make-or-break part of retailing.
This Holiday season is bringing three big waves for retailers, in rapid succession. And each one requires a strikingly different management response.
Faced with the shipping delays (and surcharges), customers have turned to brick-and-mortar stores. The savvy retailers are ready for them.
As more stores are able to reopen, and more shoppers are willing to emerge, what will they encounter?
For retailers, the Fog of Uncertainty that began in April 2020 around the pandemics keeps coming back. Just when it appeared that we were ready to "get back to life" if not "back to normal," the Delta variant has surged. This has created more uncertainty. How willing are your customers to actually go out and shop? Even more important (to you): how willing are YOUR customers to shop with YOU? So, here's an idea: Why not ask them? Really. Send them a short questionnaire.*
Incredible value! 👀
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