Consumer Interests in Retail
Similar behaviors have also followed suit for the retail industry. Apart from grocery stores which became one of the few essential retail businesses allowed to remain open, all other areas of the retail industry had to close their doors at the start of the pandemic. This change led to a surge in online retail shopping in consumers, with a 55% spike in online shopping week over week in April. Implementation of omnichannel services became a necessary survival strategy, with the use of services such as store pickup increasing 44% throughout the country and grocery delivery increasing 39% globally.
The rapid increase in online shopping and deliveries took a hit on a seamless customer care experience, with consumers experiencing delays in receiving orders, items out-of-stock, and other order fulfillment issues. In a time when consumers are relying on omnichannel services to fulfill their purchases, brands must ensure their operational processes are running smoothly.
New Opportunities for the Automobile Industry
One industry that has had quite a large opportunity to drive revenue throughout COVID-19 is the automotive industry. Since the start of March, online revenue for automotive brands has increased by 47%, with a 72% increase from 2019. The onset of COVID-19 brought many concerns and fears over public modes of transportation. This data shows consumers’ values of cleanliness and safety are the driving force in their purchasing decisions.
Consumers throughout COVID-19 have continuously been on the lookout for car deals, with search interest for “is it a good time to buy a car” growing more than 9 times during the pandemic. Even with a less of a “need” now for consumers to leave their house with quarantine and more work from home situations, it’s clear that consumers are willing to spend their money in this industry.