BRANDS ARE SHIFTING THEIR STRATEGIES

The coronavirus pandemic had changed the entire world. It has forced us to change many aspects of our life and adapt to the “new normal”. Similarly, businesses have also had to change the way they function which has done a lot of damage to their bottom line.

Many businesses have had to temporarily shut down either partially or fully since March. Slowly, things are opening up, but, in order to survive, every business is having to rethink its strategy and go digital. In today’s world, it is imperative for businesses to have an online presence. The balance between online and in-store is going to play a huge role in the future of many businesses. While businesses change strategies, it is important that they engage with their customers to understand what they want and accordingly, come up with ways to service them.

The online and in-store hybrid model has been working well for some companies. This is when a customer begins their purchase on the website and then books a slot to head in-store to have a look at the product before buying it. This model makes a lot of sense for electronics, musical instruments etc. Brands using this model need to ensure that the communication between the app and in-store personnel is seamless in order to provide the customer with a safe and fun experience. Brands need to come up with innovative strategies like these in order to survive this pandemic and come out even stronger than before.