The COVID pandemic has forever changed the pattern of how customers shop. The majority of the population has augmented their interest in online shopping platforms. Be it grocery, apparel, or digital gadgets, customers prefer to shop online instead of walking into a physical store. The growth of the online market has taken a pace during the pandemic, and it is expected to grow exponentially in the upcoming years.
While you try to reap the benefits of shifting trends, it is critical to determine the key driving factors responsible for this shift in consumer behavior.
What caused the Paradigm Shift in Customer Behavior?
One of the key factors responsible in customer behavior transformation is the changes in priorities. The trend of casual shopping slowed down temporarily and most shopping items are prioritized based on their requirement. Customers are careful with their spending and only choose products that speak the value of their money. As customers are cautiously spending their money, online businesses must come up with an appropriate product range in order to engage customers.
Accelerated Online Demands
As customers are preferring to shop digitally, an acceleration in online demands is seen. Offline stores are witnessing a decline in store visitors. Customers are expecting brands to provide them everything online. The surge in online demands has put a strain on the supply chain of brands pushing them to come up with remarkable ways to keep it smooth. A disrupted and opaque supply chain leads to disappointed customers.
Shift in Brand Loyalty
The pandemic is also responsible for shift in brand loyalty. Many companies failed to adapt the latest technology for ensuring customer satisfaction, while other companies were leveraging latest technologies to acquire new customers. Customers are keen on trying different brands. They are choosing brands that are available online and offer affordable products, quick delivery, excellent return policies, minimal shipping, and effortless customer support. To retain existing customers and acquire new ones, brands need to come up with an innovative technology, a vast product range, effective branding, and an exemplary online presence.
How to Maximize This Digital Opportunity?
The pandemic might have made it difficult for brands to sustain but it has also presented multiple opportunities for them to bounce back. As more customers are moving towards online platforms to fulfill their requirements, here is how brands can make wise use of this opportunity.
Continuous Process Optimization
In order to withstand in a market where customer behavior is evolving continuously, brands must innovate and adopt latest technologies. With the aid of technology, brands get visibility into customer behavioral patterns, can understand customer sentiments, and can continuously optimize their customer engagement process. With the online market growing at a rapid pace, brands must focus on continuous process optimization. It is easier to win customers with quality products and superior customer service. With accurate market research and studying patterns of customer behavior and demands, brands can amplify their products and services.
Build a Sustainable & Transparent Supply Chain
Brands acquire customers owing to the quality of their goods. However, superior customer service and a sustainable & transparent supply chain keeps them engaged with the brand. When customers place an order online, they love receiving real-time updates on their product’s delivery status. It is crucial for brands to update customers in real-time with their order status and this can only be done with a transparent supply chain. Increased consumer base in the online market should be taken as an opportunity by the brands to set their supply chain right.
Strengthen Customer Relationships
There is a no better opportunity for brands than to strengthen customer relationships. Brands can get deeper insights into customer requirements and act accordingly to fulfill them. Offline brands can venture into online platforms for retaining their existing customers and invite potential ones. Businesses that are already online can expand their market. Once these businesses well-position themselves online, brands can build better relationships with customers by extending support to them via live chat and other customer engagement solutions.
As the online market keeps on growing and customer habits keep changing, it has become certain for brands to stay adaptive and innovative. Relying on traditional methods of branding and delivering may not work for a long time. As the vagueness of the pandemic and customer behavior continues, brands need to focus on continuous process optimization, building a sustainable supply chain, and strengthening customer relationships.
Globally, brands are keen to build a satisfied customer base online and Etech believes this process can be eased with Innovative Customer Engagement Strategies. Etech Global Services provides a suite of live chat and digital engagement solutions for effortlessly communicating with customers. Our inhouse Quality Monitoring & Analytics division, Etech Insights, analyzes customer interactions and identifies customer sentiments, CX opportunities, and business insights for consistently improving business performance.
Contact Us to learn how Etech can help you deliver remarkable customer experiences.