Consumer behaviour has forever transformed with the onset of the COVID-19 pandemic. Retail, like all other industries, has been disrupted in its own ways. To begin with, the closure of most physical stores due to lockdown measures and social distancing has left retail businesses looking for new channels to reach their customers.

Retail has seen one of the most significant shifts till date after the onset of the COVID-19 pandemic – Retail consumers are adopting digital commerce and omnichannel modes of purchase and this is likely to stay post-COVID-19.

_As per Accenture’s research, there will be a 160% rise in eCommerce purchases from new and low-frequency consumers. _

So what does it mean for retail organizations? Those who viewed digital and omnichannel networks as secondary need to reorganize their strategies to point towards them.

There’s an opportunity here to increase revenue channels and onboard new customers but only the use of technology can help organizations to scale these services appropriately. Let’s find out how.

How retail post COVID 19 will change?

Now that a lot of countries are starting to lift lockdown measures, retail stores will begin to re-open. Amidst the uncertainty, one thing is certain – retail stores will never be the same again. COVID-19’s permanent effect on consumer behaviour has to be taken into account going forward to design their strategies.

Retailers who had a digital-first mindset and an omnichannel approach have responded better than the ones who gave preference to physical stores and face-to-face engagement. They have been able to quickly enrich the omnichannel experience for their customers and will be able to recover faster from the damages.

Let’s go through a few phenomena that are indicating this shift towards omnichannel models and which will stay even post-COVID-19.

#business insights #covid 19 business impact #retail analytics #retail post covid 19 #technology in covid 19 #data analytic