Three ways the pandemic has changed the retail industry

The coronavirus pandemic has changed our lives dramatically and will continue to do so until it finally comes to an end. It has impacted our social lives, relationships, careers, and hobbies.

And the alarming thing is how quickly this has happened. If at the start of 2020, someone told you we’d all be confined to our homes and socialising on Zoom, you wouldn’t have believed them.

But we’ve arrived at a new normal, and it’s time to start adjusting to the way things are.

Retail is an area that has undergone a serious transformation. Throughout the various lockdowns that have taken place over the past year, non-essential shops and businesses have been closed for long periods.

Even when open, they have seen much lower footfall as people are more reticent about mingling in public. 

“As we have all seen this past year, large parts of consumer behavior have been motivated by concerns for their own personal health and well-being,” claims entrepreneur Dee Agarwal.

“And just because vaccinations are rising, this focus will not disappear.”

These changes in shopper habits will have a far reaching impact on the retail industry that will still be seen in many years to come. Here are three of the most significant changes.

Contactless shopping

Back in more idyllic times, shopping was a very physical experience.

You would try on clothes before buying, sample delicious foods at the market, and flick through the latest paperback in your local bookstore.

But this is a thing of the past. Both consumers and business owners are rightfully concerned about spreading a deadly virus, so stores are making it easier for customers to complete their purchases with minimal contact with shared surfaces.

More and more stores are jumping on the contactless payment train, while cash may become a thing of the past much sooner than expected.

Rise of e-commerce

Online shopping was a big thing well before the pandemic, but its popularity was mainly due to convenience and speed.

There were still many consumers who preferred to shop in person to browse bargains and see items in the flesh before buying.

But in light of the pandemic, more and more consumers have flocked to the internet to have their purchases delivered. In addition, many outlets are offering new services like curbside delivery.

New clothing trends

Fashion has always been one of the most lucrative segments of the retail industry, but consumer trends around clothing have changed enormously.

With nightclubs and fancy restaurants closed and people spending more time at home, everyone is dressing a little more casually than before.

Less money is being spent on high-end fashion, with a sharp trend towards casual items they can wear to work from home or relax in.

We are seeing a rise in things like sweatpants, pajamas, and activewear for those home workouts, while suits and smart shoes are in decline.

This may change once the pandemic comes to an end, but in the meantime, retailers will have to adapt to meet this demand.

CoronavirusStaff WriterCoronavirus, Stores, Bricks and mortar retail, E-commerce, Online retail, Contactless shopping, Payments, Online deliveryComment