The Covid-19 pandemic has and continues to reform the world around us. The retail industry too, naturally, couldn’t escape this wave of change.
The pandemic divided buyable items into essentials and non-essentials and gave both, the retailer and the customer, a new perspective towards manufacturing and spending respectively. And the digital transformation came next.
Due to the risk and restrictions involved in physical contact, more and more customers are moving to online platforms to shop for their wants and needs. And naturally so! Shopping online meant lesser social contact and hence safer conditions for both the office staff as well as the customers.
As social distancing and personal hygiene emerge as the top priorities for people, online shopping becomes a lifestyle change as we adapt to the new normal.
- 1 The retail industry during and post the pandemic
- 2 Get the benefits of online retailing with Zadinga App!
- 3 What changes may be seen in the retail industry
- 4 Want to know how Zadinga can help?
- 5 Conclusion: eCommerce is here to stay
The retail industry during and post the pandemic
The retail industry is situated at the delicate balance between fulfilling customers’ essential needs as well as luxurious or recreational wants. And the pandemic has changed the way customers and brands view businesses at large.
As the customers have begun to head online for anything and everything, it is only natural that retailers move online too. It is fair to say that numbers for online shopping are at a whole new high at the moment.
But it is also a fair observation that the spending power is not blooming proportionally. Even though an average person shops online more frequently now than ever, they are postponing heavier expenditures and focusing on essential items only.
This has resulted in a drop in the average expenditure per shopper online- which is something the retail industry has to consider as it embraces the digital transformation.
But why is it that retailers are quickly adapting to the change and moving their businesses online? The answer is simple- it benefits them.
The first rule to a successful retail business is to pitch your tent where the customers are. By moving their businesses online, retailers bring larger visibility to their brand.
Online sales are rising at the moment and it helps them sail their boat with the current. It also partially or entirely frees them from the pressure of maintaining an on-ground shop or showroom.
As the world enjoys the benefits of the Internet, it is not wise for retailers to make sales in their limited physical clientele while their competitors ship their products nationally or even internationally!
With access to a bigger target audience, retailers can bring their product to more people and have a better chance of making sales.
Unlike offline retail, online retail works independently of the mobility restrictions of the customers. Thus it is a comparatively stable and fruitful means of retail. The otherwise overlooked limitations of offline retail have been brought to the spotlight after the Covid-19 pandemic.
This means that ‘going online’ is not just a phase. Driven by the need for safety and convenience, online retail is a lifestyle update that is here to stay.
What changes may be seen in the retail industry
- Before the pandemic, online retail was a phenomenon. after the pandemic, it has understandably become a norm. Covid has forced retailers to go online, and a few changes may be observed in the industry.
1. Inventory Space
The need for an inventory space is now more than ever. As retailers step into the game of shipping and fulfilling orders, they would need additional space to store and pack their orders in an organized manner.
2. Branding and Marketing
The world of offline marketing runs very differently than its online counterpart. Now that retailers have their online businesses fresh out of the oven, they need to market it well enough to grab the attention of their potential customers. Your business’ online presence is important and cannot be compromised at all. So businesses will have to focus on their brand image and how they are being represented online.
3. Shop Management
One of the biggest consequences that this ‘going online’ movement will have is the uncompromisable need for digital shop management. Being in the offline retail business for many years, it is natural that retailers might experience difficulty in managing their online store. But the right tool can ease this process for retailers.
One such tool is Zadinga, which helps you to convert your mobile phone into a powerful shop management system. Zadinga allows you to manage your inventory by effortless barcode scanning, manage your payments easily, create an online store, and even connect your shop management tool to any machine that you want.
To help you further, Zadinga also provides you with real-time performance reports so that you can make smarter, more informed decisions.
4. Build your Brand
In the long run, customer retention proves to be a better measure of success than sales. Now that your e-commerce will reach people beyond your trusted clientele, your brand must speak for itself. Every bit counts- so invest time, energy, and money into your eCommerce layout, brand logo, Instagram feed, product photography, etc. Your online presence is like the first impression of your business. So it is necessary to have a brand image that does justice to your offerings.
5. Familiarity with Technology
Retailers have to get on board with technology to have the best of the digital transformation. Whether creating online catalogues or presenting yourself on Instagram, you have to know the best practices to stand out. Retailers will have to make their stores tech-smart and efficient to be more engaging and inviting for their customers. Another important development would be incorporating digital payment methods.
Conclusion: eCommerce is here to stay
Considering the convenience and added safety benefits, it is predicted that this shift of lifestyle is here to stay in the coming years. To embrace the change, Zadinga helps you create your online shop within minutes.
You can easily upload stock from your physical store to your online shop and marketplaces and start selling online immediately. No matter where you sell, you manage your stock easily from this one app within minutes.