The past few weeks have been filled with global uncertainty, and the retail industry has been heavily impacted since the national state of emergency was declared on March 13. Despite the recent industry turmoil, Listrak data from the two weeks following the declaration shows that overall e-commerce sales have jumped 31 percent year-over-year, demonstrating a shift to online shopping. However, the growth isn’t spread equally across industries, with toys and sporting good sales rising by 50 percent, while the apparel category falling by 4 percent.
It’s essential for retailers to plan their next steps, adjust to the new landscape, and establish long-term marketing strategies. Right now, retailers need to refine their plans to develop customer loyalty and efficient marketing tactics. Looking ahead, the focus will shift to optimizing conversion rates, focused marketing spend, and continuing to please loyal customers.
Communicating With Customers
COVID-19 initially left companies unsure about how to communicate with customers