Retail and ecommerce success in a global pandemic

Read insights on how retail and eCommerce businesses have innovated for success in a global pandemic. Brought to you by WBR Insights and Honey by PayPal.

During the Covid-19 pandemic, retailers have witnessed a dramatic shift in consumer behavior. Adapting to this change has been one of the major challenges retailers have had to overcome in 2020. Some challenges they have faced include disruption to the supply chain and the economic hardship of government imposed lockdowns, causing many well-loved brands across the globe to file for bankruptcy and countless people to lose their jobs.

101 respondents said that their organizations have changed their customer engagement strategies and tactics due to the impact of the pandemic on their brick and mortar outlets. Some ways retailers have adapted to the changing landscape include implementing new technology such as artificial intelligence and machine learning, increasing personalization within their messaging, using affiliates in their marketing campaigns and by creating new landing pages.

We asked our respondents how the pandemic has changed the way their customers are engaging with their brands. Unsurprisingly, many said that they saw an increase in customers shifting towards their online and digital platforms. However, other respondents saw increased volatility in their customer engagement and consumer behavior during the pandemic.

According to our research, 130 respondents ranked loyalty and rewards programs as important for their brand in the last six months and 103 ranked loyalty and rewards programs as important for their brand in the next three years.