The shopping behavior of customers in the retail industry has changed a lot in the post-pandemic world. During the last two years, we saw physical (brick-and-mortar) retail stores closed for weeks and people staying indoors for prolonged periods. During this time, online shopping rose exponentially as people had nowhere to go and nothing much to do during lockdowns. They spent their time browsing products online and buying things they did not need. While many online retailers found that people were willing to buy more during that time, it never meant that selling would be easier in the post-pandemic world.
Customers will switch brands
With people having extensive time to browse online, they came across unique brands and bravely tested them. While some experiences turned out to be abysmal, others were surprisingly outstanding which led to customers switching brands. It was pointed out in the Periscope report by McKinsey that 46% of US consumers were found to be switching brands during the pandemic. Interestingly, it was not just the products that were behind this shift. It was the online buying experience other brands offered. This led many retail experts to conclude that if a business fails to offer easier online shopping experiences, their customer retention will undoubtedly be affected.
After the lockdowns were removed people returned to their normal routines, but they had experienced the convenience of online shopping. Retail businesses saw an increasing interest of their customers in multi-channel shopping experiences. But as time moved on, omnichannel customer experiences took prominence, and now everyone is working on them.
