What you need to know about the new realities of retail during COVID-19

Two recent consumer surveys conducted by Arlington Research and PFS web’s (NASDAQ: PFSW) operations business unit, identified that seven in ten consumers still expected delivery times within a week or less during the COVID-19 lockdown. Additionally, these same surveys revealed:

 

  • Social distancing and the COVID-19 Pandemic have encouraged over 6 in 10 consumers (63%) and 75% of Millennials to buy goods online that they had not considered buying online before the COVID-19 Pandemic vs. 39% of UK consumers and 52% of UK Millennials
  • 55% of US Consumers have bought more products online from 1+ category during the COVID-19 Pandemic vs. 53% of UK Consumers.
  • Over 7 in 10 Consumers in both the US and UK (71%) expect delivery within a week or less during the COVID-19 Pandemic vs. 83% in the US normally (90% in the UK not during COVID-19).
  • Millennials are the most demanding age group with 24% currently in the USA (19% in the UK), expecting delivery in 24 hours or less vs. 26% in the US normally (21% in the UK not during COVID-19).

 

Keeping these considerations in mind, it’s fair to say that knowing who your customers are, what they want and connecting to them 24/7 is no longer an option but a necessity. In fact, 71% of consumers said a memorable online experience would encourage them to shop at a brand’s brick-and-mortar store. 

 

As you drive forward into 2021, recognize that change is inevitable. Leverage data, customer sentiment, industry best-practices and inventory management to truly take control of your retail business. What’s to come may be unexpected, but like many journeys there are often positive surprises along the way.

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