According to McKinsey, the COVID-19 crisis has caused consumers everywhere to change their behaviors – rapidly and in large numbers. In the United States, for example, 75% of consumers have tried a new store, brand, or different way of shopping during the pandemic.
Behavioral science tells us that identifying consumers’ new beliefs, habits, and ‘peak moments’ is central to driving behavioral change. Five actions can help companies influence consumer behavior for the longer term:
Consumers’ interaction with a brand can trigger an immediate and lingering effect on their sense of trust and loyalty. But, it can also backfire when your brand isn’t offering the best and personalized customer experience possible. According to our US Retail Research Paper, 81% of respondents said they would abandon a brand and switch to another when the customer experience is poor. The focus on engaging with your audience, meeting them on their preferred channel and building capabilities for a fast-changing digital environment is essential.
Bring the in-store experience online
Regardless of the industry, it’s crucial for brands to see an opportunity in bringing the in-store experience online & understanding the current shopping behaviour and changing the course quickly if they haven’t done so already. Look at it from a sales perspective: brands can create more engaging and interactive ways to move items into the cart and through the checkout process. Live Commerce solutions are highly effective and will create a human-like experience just like the one consumers had in-store. Like our industry expert Rich Brecht said: ’Video is the closest thing to a real-life experience in a virtual way.’ It’s exactly how brands should ride the current digital wave.