How Coronavirus Impacts Retailers

One virus could wreak so much chaos was something that very few saw coming when 2020 began. Many countries around the globe have resorted to complete lockdown in order to prevent Coronavirus from spreading further on. The economy has had to bear the brunt as well with people under self-isolation who have taken to social distancing. COVID-19 has forced thousands of stores to shut down, and consumers are pushed to find new ways to get their essentials. Street sales have dipped more than usual since the pandemic. On the other hand, there has been a tremendous increase in online sales as people feel safer because they can stay at home and get what they want with zero contact delivery.

Coming to retail shops, with the increase in demands from customers, efficiency and agility is expected from their side. And in order to achieve efficiency, it is necessary for the retail shops to fall back on the shoulders of technology and take help from it in order to keep their heads in the competition. Technology assists retailers by helping them grow and thrive by giving it a competitive edge over others.

Related Reading – Hiring Remote Developers in India and Getting Same Productivity

How technology helps Retailers cope during this pandemic

Technology has proven successful in aiding businesses, be it big or small, to help it get a wider reach as well as making them more competent. The outbreak of Coronavirus has been sending quite a few businesses to shut down temporarily, affecting their sales in a big manner. Talking about retailers, they too seem to be facing a crisis with the supply chain. And when in doubt, many have turned to technology for its aid. Retailers too seem to be approaching technology to assist them and provide solutions to manage the crisis. Below stated are some of the ways in which retailers have started making use of technology to get back into the game and remain undefeated.

Use technology to sell products online during the lockdown:

With everyone having a Smartphone, taking the retail store online is one of the safest bets one can make, which helps retailers to stay in business. As most of the retail shops have been forced to shut down, people resort to ordering things online. Hence, it seems like an ideal time to open a shop online. With people ordering from the app, it eliminates the chances of contacting people and the risks of getting affected. An online inventory and contactless delivery is a sure-shot way of taking the business ahead in such times. With everyone sitting at home and not having much to do, it is evident that most of them will be taking to their phones. This is the best time to make use of technology and get a retail business running.

Use technology to create catalogue websites and apps:

In today’s times, when everyone seems to be present virtually, it is important to consider building an app or even a website that has the product catalogue of one’s inventory. As thousands of people now prefer buying online, it is beneficial to have all the products easily accessible online. A catalogue app makes all the products appear in the gallery, and in this manner, they can select the products of their choice and make a note of the product’s description, the manufacturer and also track their prices. now you can build a mobile app through your website easily with AddWeb Shop

Buy now
Use technology to Market products online:

In a study taken out by Pew Research Center in June 2019, seven out of ten Americans make use of social media to connect with one another and keep themselves updated on current happenings. With no print press functioning and the rule of social distancing, retailers are forced to pull out of events, trade shows, etc. where they get a chance to market their products. But they still haven’t lost anything. Being present on social media makes a huge difference. Plus, digital marketing is one of the best ways to promote brands and products. It helps attract and engage customers to a large extent. Now is the ideal time to make use of search engine optimization in order to reach out to a larger audience. According to a study taken out in April 2019, by Pew Research Center, 73% of Americans are active mostly on YouTube. This means that launching a new channel there and actively marketing on the platform is a good start for all the retailers out there. Second, comes Facebook with 69%, and in the third position is Instagram with 37%. Therefore, one could think about the large market that is left to be tapped into.

Use technology to manage the inventory in the stores:

Amidst this lockdown, there are also FMCG retail shops that are open to serve the customers with the essentials. Grocery store employees seem to be working overtime in order to constantly stack their shelves and to meet with the increasing demands of the customers. Going up and down the aisle and checking for what needs to be stacked up can be a tedious job. Therefore, robots are a good solution which reduces efforts and increases efficiency. These robots can also be brought into the retail segment to help with the laborious tasks. Now retailers may ask questions like how they work and help check the inventory. These robots have engraved sensors in them, which help in scanning its way across the shop in between shelves. They are built with cameras and machine learning, which helps in auditing thousands of products in a matter of 1 to 2 hours. These robots are built to even identify the prices of the products, where it is being placed, availability and special discounts, etc.

Use technology to manage

Irrespective of how long this pandemic will keep people locked up in their homes, opting to go digital and making use of technology to elevate product sales is always a good option. Technology has helped the world become smaller as everyone is now present virtually, which means connecting to people has become easier.

Also Read – How Agile Methodology Transforms the Organizational Framework?

Planning on stepping up your game and getting back into business with full digital support? AddWeb Solution is happy to serve you.

While the world may shut their doors, but we at AddWeb Solution will work to help your retail business get the right push it requires. Our team consists of experienced and passionate people who will do everything to see your business boom when all else is gloom.

Frequently Asked Questions

Floating Icon 1Floating Icon 2