The COVID-19 pandemic caused struggles for many retail businesses. Though it’s important to discover beneficial ways to strengthen and grow as a brand, the road to revival isn’t always easy. The pandemic impacted almost every type of business—especially retailers—and only now are many retail businesses figuring how to grow once again.
Leading business professionals at McKinsey and Company, a global management consulting firm, believe in five ways to bounce back after the pandemic slowed growth: “resolve, resilience, return, reimagination, and reform.” When you dig a little deeper into those five points, you discover even more specific ways on how to revive your business. The below suggestions are helpful points that play a part in retail marketing – especially after COVID.
Connect and Collaborate
With other small retailers and businesses struggling to grow, why not collaborate to help each other succeed? Work with like-minded businesses to help improve foot-traffic, social media interest, and, most of all, sales. These actions also show others a lot about your business’s brand and personality. If you’re a company willing to work with others, the public will respect that connectivity. Networking with other retailers also expands learning opportunities and helps bring new ideas to light.
Adjust Mission, Values, and Brand
Exciting, relatable updates can be a good thing! Even if your business has a strong, recognized personality, it may be a good idea to tweak your mission or even rebrand a little bit. The COVID-19 pandemic brought with it so much change that businesses may need to reposition to remain attractive to customers. This post-COVID era has opened the doors for shifts in the ways businesses operate. This includes making small changes to branding, your company mission, and values.
Boost Social Media Marketing
Just when we thought we lived in the age of technology, COVID-19 came along to open our eyes to a new level of digital connectivity. Quarantine and remote working created a need for more digital opportunities and the same goes for retail businesses. When foot traffic stopped, retailers had to explore social media and other online options. Even with doors opening and businesses starting to boom again, social media marketing is more crucial than ever. Staying consistent on your social accounts and engaging with followers and businesses gives your business an edge. Working with local or up-and-coming influencers to share your products or services can be a helpful way to increase both website and store traffic as well.
Create Health and Safety Protocols
COVID is still a very real risk. With health and safety at the forefront of peoples’ minds, retailers and companies must also make it a priority. Rearranging health protocols within your retail store to better meet customers’ needs can help revive your business. If your business is going above and beyond to keep employees and customers safe, the public will recognize this and respect you because of it.