Preparing for the Road Ahead: Tools to Win in the New Normal

Preparing for the Road Ahead:

Tools to Win in the New Normal

There’s been a lot of thought and speculation from an array of experts on what the “new normal” will look like post COVID-19.Futurist Steve Brown, author of The Innovation Ultimatum: How Six Strategic Technologies Will Reshape Every Business in the 2020s, told Forbes in May, “COVID-19 has been called ‘the great pause,’ a time for reflection and introspection.” In the Forbes interview with Rodger Dean Duncan, Brown went on to say:

“Stripped of the comfortable illusion of being in control, consumers will move to reassert control over their lives in ways big and small. Pantries will be kept stocked. Savings rates will increase. Consumers will ask more questions about where products come from, how safe food is to eat, and what it took to produce and ship goods to their homes. Business travel will drop, perhaps permanently, and digitization efforts will rapidly accelerate, as the increased use of telehealth, online education, and home grocery shopping have ably illustrated.”

At the height of crisis, Retailer Web Services kicked into overdrive, providing independent retailers with an array of resources and actionable recommendations to reach shoppers. Simultaneously, their team embarked on a mission to investigate what independent retailers need to succeed once the peak of the crisis is in the rearview mirror.

RWS founders and Genna Majuta, chief customer officer at RWS, worked alongside a research team from across the company to examine studies on the effects of COVID-19 in other countries as well as insights from authoritative researchers and policy makers, to economists and medical experts. According to Majuta, the RWS research team was focused on answering the twofold question, “What’s the likely scenario we’ll be facing as a nation and how will retailers make it through?”

Due to the profound impact of COVID-19, which has fundamentally altered the business environment in which retailers operate, the research team concluded three key takeaways:

1) The new normal period is likely to last 12 to 18 months from April 30, 2020, the date the federal government lifted the quarantine.

2) Due to the fundamental shift in consumer behavior, retailers must prepare—sooner rather than later—to operate differently.

3) Consumer trends that were present pre-crisis, such as e-commerce and home delivery, have been accelerated, advancing their prevalence by several years in a matter of months.

As evidenced on the RWS platform, online orders across the network increased 525% year-over-year growth in May.

States have been in various phases of responsible reopening across the U.S., and spikes in cases of COVID-19 and hospitalizations due to the virus continue to occur. 2 As some people have ventured out, others continue to stay home as much as possible. 3

“Even after reopening, there’s good reason to believe that consumer behavior will not return to pre-Coronavirus normal in the United States until one of two things happen,” Majuta said to retailers on a webinar in May. According to sources at the University of Oxford and the Centers for Disease Control, these are:

An effective vaccine has been developed and administered to 80-85% of the population

OR

A proven treatment/cure is available to 90% of the U.S. population that lowers the death rate of hospitalized patients to 1%

“It is going to take time for a vaccine or a cure to be discovered, tested, approved, manufactured and distributed and until that happens, we’re going to be in the new normal,” said Majuta. “For retailers, adapting to the new normal is the key to business survival.”

Since the spring, RWS has been helping its retailer customers adapt to a new set of criteria consumers are using to make decisions: What will keep me and my family as safe and healthy as possible?

As a result of social distancing, contactless sales and delivery where shoppers don’t have to enter a store to buy have skyrocketed. While some consumers are eager to come into a store, the RWS research shows that there will continue to be a large group of shoppers that won’t. This could range between 30 to 70 percent of consumers who will prefer to shop from the safety and comfort of their homes.

A Google survey revealed that during the pandemic, 24% of surveyed shoppers went online to purchase something they would normally buy in-store, and 87% of them said they’d try it again.

RWS has been working closely with retailers to ensure theyhave, at a minimum, a strong online presence that meets thedemand for contactless sales. A fully-optimized, e-commercewebsite should be properly merchandised, giving consumers anintentionally crafted experience just like in stores. And that’s notall. If they’re not already, retailers should:

* Ensure their salesforce can sell effectively via phone, online chat and text, using the website as the primary showroom.

* Train and equip their delivery team, developing new procedures for minimum contact delivery.

* Update website messaging (and advertising) to communicate with consumers their store is open and taking the proper precautions to serve them, making it easy for consumers to do business with the retailer through a variety of options.

* Maintain supply and availability of financing options.

A Google survey revealed that more than 50 percent of shopperswant to know how businesses are responding to the crisis. Anothersurvey from Google shows consumers are searching differently:

Searches for “curbside pickup”and “home delivery” grewby 70 percent and over 100percent, respectively, over theweek ending March 28.

60 percent of U.S. consumers searched online for “what’s open near me?”

The RWS team has been making everyday adjustments to retailers’ WebFronts® to satisfy consumers’ “need to know” and remain relevant and up to date. (See “A Dozen Tips” sidebar)

Go beyond your website – digital advertising

Majuta emphasized there’s never been a more important time tohave a strong digital strategy across your online presence. Retailersshould ensure their store profile is up to date with all pertinent, timelyinformation (store hours, delivery options, COVID-19 precautions,etc.) in Google My Business™. This also goes for Facebook and othersocial media as well as Yelp and other review sites.

When it comes to having a strong online presence, a digital adstrategy is a critical component. For retailers that have digitaladvertising in place or for those who are considering it, Majutarecommends the following:

1) Make sure your content has the right call to action

2) Consider supply and demand, and focus on what’s in demand*

3) Use free tools available to you such as *Google Trends (search on Google) to evaluate what shoppers are searching for now

4) Contact RWS for more information on enhancing or launching an effective digital advertising program through its AdRocket™ software.

The good news amidst the new normal backdrop: As a PremierGoogle Ads Partner, RWS has insight into additional resources thatshow shopping for furniture, mattresses and appliances is on the rise!

After all, Steve Jobs said, “Innovation is the ability to see change as an opportunity—not a threat.”

A Dozen Tips:

The RWS team offers the following tips to ensure your site is the most effective tool for your sales team:

01) Price as many items as possible

02) Ensure your shopping cart is active

03) Configure your delivery prices

4) Have strong product data

5) Properly prioritize items and brands

06) Flag key items with special messages

07) Make warranty options available

08) Feature financing options

09) Display special messages for “out of stock” items and invite shoppers to sign up to be notified when items become available

10) Encourage shoppers to introduce themselves, creating a consumer profile and in turn, a tailored shopping experience; consider giving a gift to encourage profile creation

11) Implement online chat to connect with shoppers and use as a selling tool

12) Keep your site up to date with information on all the ways shoppers can engage with you, the measures you’re taking to keep them safe and delivery and installation details