Every consumer has had the experience of being undercharged or overcharged for an item at a retail store, either noticing the mistake at the register or not realizing the error until they got home and reviewed the receipt.
The pandemic has left retailers asking two major questions. First: When people can’t — or won’t walk — into my store, how can I retain customer connection and loyalty? Second: When things return to a relative normal, how will I position my brand for long-term competitive success?
As we approach the official one-year anniversary of COVID-19 lockdowns, retail brands collectively are taking a look back at what worked, what didn’t, and how they can maintain positive growth in the year to come.
With wide-spread vaccination on the horizon, relative relief from the global pandemic is close at hand. But even with a new layer of safety added to the retail shopping experience, one factor remains irrevocably changed — the consumer.
Entering 2021 brought with it the hope of many retailers and business owners nationwide that COVID-19 vaccines and plans for their expedited distribution would soon allow the retail world to “return to normal.” That has not proven to be the case.
Since the onset of the national COVID-19 pandemic in the U.S. around this time last year, businesses have been struggling to survive, and more than a few have tried to use “force majeure” provisions in contracts to escape or mitigate what would have been their ordinary contractual obligations.