7 Ways The COVID-19 Pandemic Is Going to Change The Way We Shop
Updated: May 6, 2020
CNBC | May 1, 2020
One way or another, many of us will emerge from this crisis with new ways of doing things — especially when it comes to consumption. Retailers, in turn, will need to adapt. And fast. Shoppers will be looking for spaces where they feel safe. Here are 7 ways we are changing as consumers due to COVID-19.
1. Look, don't touch. As people return to stores, many will be wary of picking up merchandise that has come in contact with others, pushing shopping carts and punching the buttons on credit-card readers.
2. Protect your personal space. When consumers venture out, tight and cramped spaces will be avoided. Open-air shopping centers will be preferred over enclosed shopping malls. Capacity will be limited in stores to make sure they do not become overcrowded.
3. Shop Local. Many shoppers will still look to shop local, even post Covid-19, it has made more people realize how much they appreciate mom-and-pop shops.
4. Discretionary spending drops. The pandemic has led many of us to focus on stocking up on groceries and household essentials, while cutting back spending on apparel and other things we don’t immediately need. Consumers will be looking for bargains for quite some time and will think twice before getting a new pair of shoes.
5. Everything goes virtual. Retailers are going to need to get creative, as consumers become more comfortable buying things on the internet. They’ll need to find better ways to showcase inventory online, and to make sure shoppers know what size clothes and shoes to buy.
6. Loyal brands that give you confidence. Consumers are going to be looking to buy from brands that are sensitive to the crisis, as well as individuals’ health and safety. These companies make customers feel more confident and better about their decisions in shopping there, she said.
7. Globally driven decisions. Consumers will be more conscious of where goods are sourced from and produced, in a post-Covid-19 world. Retailers will also need to be more transparent about their global supply chains.