Retailers will double down on social strategies in post coronavirus world

Likes and followers are set to be more valuable as retailers increasingly rely on social media in a post-Covid-19, says GlobalData.

According to its research, which covers 11 countries, with a sample of 500 respondents per country, 43.7% of consumers globally are spending more time on Facebook, Twitter et al due to the coronavirus outbreak.

Emily Salter, Retail Analyst at GlobalData, comments: “Social media will play an even more important role in marketing post-Covid-19, as many retailers are slashing marketing budgets to preserve cash to cope with the crisis, especially those that previously relied on traditional forms of marketing such as television and billboard adverts.”

“Social media is a far cheaper method, especially if brands can leverage user-generated content and rely less on sponsored posts and collaborations.”

However, retailers need to approach it with sensitivity and strike the right balance with the number of posts and messaging, she adds. They should ensure that content is not too heavily skewed towards purchase-focused posts. A significant number of their followers will not feel financially stable enough to buy non-essential items as unemployment rates have soared globally.

Salter continues: “Retailers need to focus on aspects beyond products: elements of their brand identity that resonate with shoppers, the positive actions they have taken during the crisis, and building engagement to foster a sense of community, though this may prove easier for smaller independent brands.”

“These are all elements that shoppers will be able to relate to whether they are in a position to purchase items or not, building brand loyalty and influencing shoppers’ choices in the long-term.”