IMRG recently had a podcast on the topic of important technologies for retailers in light of the coronavirus pandemic. If you didn’t have time to listen, you can read a summary here.

Prefer to watch instead of read? Check out the video below.

Coronavirus in Conversation – Which technologies should retailers be investing in? from IMRG VIMEO on Vimeo.

Executive Summary

• Try new technologies quickly and cheaply.
• Prioritize technologies with flexible & powerful analytics to enable customer understanding & personalization.
• Technologies connecting datasets to improve customer experience are a must-have. 

Choosing Technology

Most retailers are working with limited budgets. When it comes to technology investments, most companies are dramatically more risk-averse. 

But to survive and thrive, they need to try new approaches and technologies – quickly –  to see what works. And experimentation needs to be rigorously structured. Most retailers don’t have a lot of experience with quick & cheap structured innovation, which is why experienced external advisors are in high demand.

Communicating with Customers in General

What the experts recommend is connecting datasets and doing deep-dive analytics to understand new patterns in customer behavior.

One of the patterns taking shape is valuing safety first and foremost, convenience being secondary. Businesses who can combine the two are going to win. There’s a lot of demand for contactless mobile payments and demonstrated hygiene precautions. 

While people in general have started valuing safety and hygiene much more, there’s an important distinction in your segmentations you need to consider. 

Communicating with a New Customer Cohort

Aside from the customers that want to shop online, the customers that have been forced to are now coming to your website too. On the chart below, they are the late majority and laggards.

They need an even simpler, more intuitive customer experience. Your datasets need to be connected so you can serve this segment best. Your product categories – meaningful. Your customer service – delightful. You need to re-explain the online shopping & delivery process to these people specifically. 

Managing Delivery Expectations

Due to national lockdowns and stricter border controls, international deliveries are now taking weeks to be completed. Some retailers are prioritizing essential goods in their deliveries to ensure the preservation of people’s livelihoods. Retailers need to set expectations with their customers appropriately to prevent churn.

Tackling the New Normal

That sums up what was covered in the podcast. If you’re looking for next steps, Exponea’s got you covered.

As the experts discussed, success in the new normal isn’t just about your technology. It’s also about your agility and your competence with the tools you have. For a full overview on what it will take to succeed, read our article on ecommerce success in the new normal.

You’ll also find an assessment that will help you determine your company’s readiness for the new normal. You can jump straight to the assessment. After taking it, your company will discover its place on the New Normal Ecommerce Quadrant, and you’ll get tailored next steps to help you succeed.

Finally, you can check our blog for the latest content surrounding the new normal and ecommerce.