Updated: Jul 29, 2020
During COVID-19 and the economic downturn, there have been many challenges. There have also been opportunities. We have seen many retailers shift their way of doing business, and in some cases, their entire business model, in response to the change in buying behaviors and access to consumers.
Here are a few of the great ideas we have seen our BOOM Brand Partners implement to promote purchasing and brand loyalty during these times.
1. Be creative with new offerings
If your current offerings are not available or not attracting consumers, think outside the box! Can you sell DIY items, specialty items, or even different products all together?
DIY Dinner Kits - offer at a lower price if there is still margin available to make a profit
Grocery kits - Selling grocery kits assists with excess food and companies can mark up produce, meat and dairy while still being competitive.
Extend your exchange and return policy - This will encourage purchasing, in particular when consumers are not able to shop in-store
Opportunities to pre-book front of the line access or reservations
2. Offer a direct discount on gift cards and pre-orders
This provides you with an influx of capital and the consumer feels that they have saved on a future purchase when you are able to return to normal operations.
Restaurants could offer 20% off digital gift cards
Attractions can offer extended memberships – buy one year and get access for two years
3. Consumers want community
The advertising and campaigns you have previously done may not be the answer anymore. Consumers care about how retailers, like you, are reacting to the changes in the community and economy. Demonstrate you care about the community and work to build their trust.
Ensure your marketing strategies offer sensitive messaging and flexibility to adjust campaigns quickly
Offer essential workers a discount or to skip the line
4. Understand your consumers' needs
Ensure that the consumer is safe when purchasing from you by following all protocols and regulations and communicating clearly through all your channels to consumers.
Online sales are increasing and will stay that way for a while. Promote online sales with free shipping or a small discount.
To help consumers be safe, offer curbside pickup or delivery of products.
Consumers are adjusting their purchasing habits and retailers must adapt to these changes quickly. Those who are able to change and adjust, will be more able to move through these difficult times.