The coronavirus pandemic has had devasting effects on the retail industry, from massive business losses to countless layoffs. The shopping landscape has permanently shifted, and as customers finally return to stores, business owners must be willing to adapt in order to stay afloat.
For retailers navigating the current climate and preparing for the future, technology will be a proven lifeline for success. In order to prosper in a post-COVID world, retailers must rethink their business models by understanding the heavy hand technology adoption will play in the world emerging from the pandemic.
Adapting to the COVID-19 Landscape
While we are now witnessing a return of foot traffic to physical stores, retailers must not only prioritize sanitation and social distancing guidelines, but they also must maintain strong online presences to keep customers interacting with their businesses.
Social media is an excellent tool for retailers to actively communicate with customers. On their online platforms, businesses must instill confidence in their returning customers by conveying a prioritization of customer safety. Retailers should also utilize social media to update customers on any changes in their operations as well as demonstrate how to continue safely engaging with their business.
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Technology as a Lifeline
Moving into the post-COVID landscape, retailers need to adopt an omnichannel approach to bridge the gap between the online and in-store customer experiences. Technology will play a critical role in this approach.
QR code technology, for example, allows a shopper to scan an in-store code with their phone, pull up an online catalog and browse a multitude of products.
Similarly, self-ordering kiosks blend ecommerce with retail by allowing in-store customers to peruse online listings, place orders and conduct payments on the customers’ own time. When placed strategically throughout the store, kiosks also help prevent crowding and eliminate long lines.
Additionally, kiosks allow retailers to offer a wider range of products for customers to browse. Through kiosks or online shopping, customers can order a variety of products beyond what is available in the physical store. For example, a customer may discover a particular product in the store and then browse a myriad of sizes and color choices for that product on the in-store kiosk. The customer can then pay for the product directly at the kiosk and select delivery to the store, nearest warehouse or directly to the customer.
Adopting this technology will bring the convenience and efficiency of the online shopping experience to the brick-and-mortar store, improving customer experience and putting shoppers at ease over health concerns. Technology will undoubtedly transform the future of physical retail and equip business owners with the tools to meet the new challenges of a post-COVID world.
Sam Zietz is the Founder and CEO of the financial technology company TouchSuite and its affiliated companies, including GRUBBRR. In 2015, Zietz was a recipient of the prestigious EY Entrepreneur of the Year Award in Florida; he has served on the judges’ panel for the annual program since 2018. Headquartered in Boca Raton, Fla., GRUBBRR is a technology company that delivers ordering solutions for small to large companies across different verticals, including QSR restaurants, fast-casual restaurants, cafés, bars, food trucks, coffee shops, bakeries, stadiums, movie theaters, casinos, micro markets, retailers and golf courses.
