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What are the trends emerging for retail businesses during the pandemic?


Kiana
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I am a retail store owner of basic good and commodities. I would like to know if there are trends or new ways businesses use to cope up during this time of crisis.

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When the pandemic broke out in 2020 a significant number of businesses shut down for good and survival have become retailers' main priority. 2021 is the year that will allow retailers more time to focus again on innovation to be more flexible and adapt to the New Normal. Fortunately, new tools emerged in the midst of the pandemic as retailers aim to address socially distant challenges and circumstances.

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  • Trend of e-commerce and online marketplaces: These two platforms have dominated the commerce industry as more and more people have shifted to online shopping to generally avoid public places and practice social distancing 
  • The use of point of sales and other business intelligence (BI) tools to optimize business performance: Several tools have emerged in the market that helps business owners and managers facilitate and run their businesses
  • Marketing and Promotion: Now that businesses have shifted to online or digital more and more people have also made use of social media and websites as main platforms for their marketing and promotion. Visuals, graphics, videos and influencers are used as methods to advertise their products and services to reach a range of audience.

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  • Demand for Grocery Retailers to go online: Since people now go online not only to shop for rare finds or luxury items but to also pick up daily necessities and commodities, there is a high demand for grocery stores to put up their shops online and facilitate online ordering and delivery.
  • Ethical and Values-Based Brands on the Rise: 92% of Millennial consumers are more likely to buy products from ethical companies. These are brands that not only how their products benefit customers, but also how they benefit socially responsible or environmental causes.
  • Same-Day (or Faster) Delivery: At par with the rise of the trend of online shopping, are customers who expect their purchased goods to reach them faster or even on the same day as their purchase.
  • Increased Focus on Personal Health and Self-Care: With the global pandemic, more and more customers have increased their health awareness and consciousness- hauling vitamins, food supplements and even work-out tools and equipment among many others.
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