5 Lessons Brands Can Learn From the Pandemic

Curated by WorkingFromHome

This article is an excerpt from the original article found in the Read More link – please follow for full article.

Here are some key takeaways to keep in mind as we move past the pandemic.

5 min read

Opinions expressed by Entrepreneur contributors are their own.

The global pandemic was devastating for several businesses, namely retail, restaurants, hospitality and in-person entertainment. While many businesses closed their doors permanently, others surfaced and even thrived.

Some businesses were forced to pivot to an online ecosystem that they were not familiar with, as retailers had to move inventory online to remain above water and some restaurants were forced to rely solely on delivery to keep their doors open.

The ecommerce industry grew at exponential rates, with established brands gaining incredible growth and newcomers setting a blistering pace. Rather than focus on the negative impact Covid-19 had on businesses, let’s focus on the lessons brands can learn from what the pandemic caused within the retail and ecommerce industries.

1. Consumers will always be willing to spend money

While there was a lot of doom and gloom talk going on during the pandemic, many retailers were reporting record online sales. Just to paint the picture for you, Best Buy reported that its online sales shot up by more than 240 percent during the second quarter. Many people stocked up on electronics to keep themselves and their families occupied while inside since there was no clear indication of when “normal” would return.

Even with so much uncertainty regarding employment, income and the economy, consumers were still spending money. While “save it for a rainy day” would have been the smartest financial move, consumers are naturally inclined to spend.

Faced with boredom and redundancy during the lockdown, many consumers turned to online shopping as a form of entertainment.

2. Commerce has shifted heavily online

Even as states begin to open up and retail stores follow suit, the pandemic has introduced an entirely new demographic to the convenience of online shopping. From buying common household items on Amazon and having them arrive within days to ordering groceries online and having them on one’s doorstep within hours, many of these consumers will continue to shop online simply because it’s more convenient.

Ecommerce brands shouldn’t fear retail opening back up and taking market share back. Instead, focus on driving that convenience message in all marketing and advertising. Instead, think of ways to provide even more value to your customers.

Is there a subscription option you can roll out to make repeat fulfillment more convenient for the customer while also creating a consistent and reliable revenue stream for your brand? Now is a prime time to introduce convenience upsells.

Related: A Beginner’s Guide to Building a Profitable Ecommerce Business

3. Social media can launch a brand literally overnight

One of the most interesting things I noticed during the pandemic was just how many one-person

Source: Entrepreneur.com

Read the original here:
5 Lessons Brands Can Learn From the Pandemic

You May Also Like…

Married to Your Business Partner? Here’s How to Navigate Both Relationships.

Married to Your Business Partner? Here’s How to Navigate Both Relationships.

Married couples who run their businesses together face unique challenges, but they can also be extraordinarily successful. June 22, 2021 6 min read Opinions expressed by Entrepreneur contributors are their own. Marriage is tough. It’s more difficult than anyone realizes from the outside looking in. No matter how perfect your dating relationship is, marriage takes things to a whole new level. Couples find out what their marriage is really made of when challenges arise. For some, pressure and friction strengthen their relationship. For others, small fractures that were previously hidden transform into active fault lines that cause irreparable damage.Likewise, starting and managing a business is tough. It’s not nearly as sleek or sexy as they make it look in glossy business magazines. The work is gritty, the hours are long, and failure is plentiful. Few entrepreneurs make it past the first couple of years. Of those that do, there’s a long…

These 5 Branding Factors Will Take Your Business to the Next Level

These 5 Branding Factors Will Take Your Business to the Next Level

The importance of branding in business is undeniable. No matter what industry you are in, there will always be someone who offers the same product or service that you do. June 22, 2021 3 min read Opinions expressed by Entrepreneur contributors are their own. The importance of branding in business is undeniable. No matter what industry you are in, there will always be someone who offers the same product or service that you do. What sets your offering apart is the brand attached to it. Building a brand takes time and a lot of effort, but any business or entrepreneur who takes the brand-building process to heart will experience more success. But we need to realize that branding is more than just a logo. It’s about the experience as a whole. That includes the visual and tangible, and even the intangible aspects of your business experience. Unfortunately, many business owners today…

Working From Home TV …

Tips to enhance your own website…

How to “Easily” Create Custom WooCommerce Thank You Pages – Website Tips

How to “Easily” Create Custom WooCommerce Thank You Pages – Website Tips

Do you want to easily create a custom WooCommerce thank you page? A custom thank you page for order confirmation is a great way to connect with your new customers and even get additional sales. In this article, we’ll show you how to create a custom WooCommerce thank you page, step by step. Why Customize a WooCommerce Thank You Page in WordPress? Creating a custom WooCommerce thank you page gives you a way to connect with your customers when they make a purchase. The order confirmation or thank you page may seem like a small part of your online store, but it can actually be a very valuable part of your sales process. The problem is that default WooCommerce thank you page isn’t really optimized for conversions. This is why smart business owners build a well-designed and high-converting thank you page to replace the default option. There are a lot…

How to Connect Microsoft Outlook to WordPress (Step by Step) – Website Tips

How to Connect Microsoft Outlook to WordPress (Step by Step) – Website Tips

Are you looking for a way to use your Microsoft Outlook account to send emails from your WordPress website? Connecting Microsoft Outlook with WordPress helps improve email deliverability by making sure that your emails reach your subscriber’s inbox, even if you’re sending a lot of them. In this article, we’ll show you step by step how to connect Microsoft Outlook to WordPress. Why Use Microsoft Outlook to Send WordPress Emails? Using Microsoft Outlook is a great option for business owners who regularly use Office 365. You can use your existing account to send emails to your subscribers from your WordPress website. The best part about using Outlook is that it allows you to send a lot of emails at once. You can send up to 10,000 emails per minute, which is a much higher limit than other mailing services. If you have a busy online store, then this will help…

What’s Coming in WordPress 5.8 (Features and Screenshots) – Website Tips

What’s Coming in WordPress 5.8 (Features and Screenshots) – Website Tips

WordPress 5.8 beta is out with an expected release date of July 20th, 2021. It will be the second major release of the year and comes with lots of new features and improvements. We’ve been following the development closely and trying out the new features on our test sites. In this article, we’ll show you what’s coming in WordPress 5.8 with features and screenshots. Note: You can try out the beta version on your computer or on a staging environment by using the WordPress Beta Tester plugin. Introducing Template Editor WordPress 5.8 will ship with the new template editor. It is a step towards creating a full site editing tool using the block editor, which means you can expect it to get better with future releases. The template editor allows you to create and save templates for your WordPress website and use them later for any post or page. Switching…

0 Comments

Submit a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.