If you look at the research coming out, it indicates that consumers are going to be spending less and looking for a discount.
Put this together with the “fear” of crowds and social distancing practices and the result is fewer customers spending less money, not a formulae for success.
What is retailer supposed to do?
This is not the time to start a discounting strategy, if you do the chances are you are on downward spiral that you will not be able to get off.
Now is the time to relook at the whole of your approach to marketing and retailing
1 Create a clear vision of what you want the customer to experience when they come to your business and make sure all the team know what that vision is.
2 Have clear understanding of who are your customers and who are not and make sure you are providing the experience that those target customers are looking for.
3 Develop an emotional connection with those customers .This starts before they walk into your store through your social connections and then continues while they are in the store.
4 Get customer feedback. This is an important tool to ensure you can improve your business
5 Make sure all your team know the stories and can communicate those stories to the consumer. The stories can be based on the product, the business, the owners, the local history. Ever business has a story to tell
6 Develop the team as Day Makers. Do not serve the customer, make their day. Make the shopping experience engaging and memorable.
7 Get the team to provide feedback of the days experiences and what worked and what can be improved
8 Finally, measure success. The average sale is always a good indicator