Strategies to Navigate Through COVID-19 for Retailers

Coronavirus doesn’t seem to be leaving us anytime soon. It continues to impact people; directly and indirectly. It has changed our lifestyles, how businesses are operated and much more. Like all businesses, retailers have suffered a lot because of this pandemic. The retail POS software is providing some support but only retailers who are using their systems to the best of its capability are successful during these challenging times. 

It is important now, more than ever, to stay connected and on top of your customers’ minds. It is the only way to get you sales meaning your marketing game needs to be really strong. A POS can be immensely helpful in helping your marketing team devise profitable marketing strategies by looking at the customer data. We have compiled a list of strategies you can follow as you navigate through this tough time period to boost your sales. One thing to keep in mind before we delve into the strategies is that you need to be willing to spend in your marketing team for the success you want to achieve:

Run Promotions: 

It’s human psychology to gravitate towards offers and promotions as you get something extra for the price of one. A company that runs promotions often, ensures that the customers keep coming back to them. During this crisis, especially, people are looking for ways to save money and if you bring a promising offer for them, they will surely avail it. 

You can pair up your least expensive product with a product that has a high-profit margin. Similarly, you can offer a discounted price to your most loyal customers. There are so many ways you can increase your profits by reading your audience right and applying the right marketing strategies. Make sure that you are obeying the social distancing laws as you run promotions- meaning your promotions should be digital! 

Serve Your Customers Remotely: 

Technology has impacted the lifestyles of your customers as well as their expectations from. They expect 24/7 service now. This means you should have access to your business even when you are not on the premises. When you can provide support to customers remotely, you build a loyal customer base. 

This can be possible through POS and mobile apps as the employees can provide real-time services to the customers because they have access to all their business data. The response time of your business should be high, regardless of the time of the day, if you want to become consumer-favourite! 

Build a Pre-Order Strategy: 

Your business is not the only one that is struggling to keep afloat and your customers understand that these are very difficult times for SMEs. So, if you are a local business then you can ask for community fundings to help you out. One possible solution is to ask customers to pre-order the basic products they require by paying the full amount or make a deposit beforehand. 

Try to Provide Normality for Customers: 

Every person is looking for one thing- going back to normal routines. This means that customers are looking for normalcy. Due to the drastic change in our routines, we are much more tired of working from home than we were going out. 

We aren’t getting human to human interaction anymore and thus, our brain is just exhausted. So, it’s time to try and figure out how you can help in offering some normalcy to your customers.

The Takeaway: 

Different strategies are being devised by business owners and marketers to improve business revenues during the ongoing pandemic. Keep an eye out for these strategies so you can keep the money coming and your business running.