Friday, May 8, 2020

How COVID-19 is Affecting Purchasing Habits

Stating that we are facing unprecedented situations feels like an increasing understatement.  The global pandemic surrounding COVID-19 will likely be the defining event of this decade, perhaps beyond.  The implications are being felt throughout business and personal lives, and will not be going away anytime soon.

As people come to terms with the realities of our interconnected world and uncertainties of a rapidly altering situation we have seen huge overnight changes to shopping behavior.  From bulk-buying to online purchases, people are changing how they buy, when, and why. 

Different generations are responding differently to the pandemic, however Gen Z & Millenials are particularly altering purchasing behavior.  According to one survey of consumers, the younger generations are found to be changing their shopping behavior much more dramatically than other generations by cutting back on non-essential purchases, stocking up on supplies, and spending less on 'experiences'.

As people are embracing social distancing guidelines, this impacts the amount of foot-traffic brick-and-mortar stores can expect even as they are permitted to reopen their doors.  While this turn is unfortunate, there are avenues for local businesses to recoup their losses from a decline in physical shoppers.  A survey by Engine states that people are spending an average of 10-30% more time online shopping.  In the coming weeks and months there will be a large portion of potential shoppers that continue to limit their time spent visiting stores, and increasingly turn to online retail for a variety of goods.  Take advantage of a growing online customer base by ensuring your store is set-up to succeed in an e-commerce world.

Your customers are adapting to strange times and their behavior is constantly changing, and business owners are facing much of the same uncertainty.  However, DeliveryMaxx is here to help.  If you are needing to transition to an online store for the first time you do not have to rely on overpriced site builders.  Our patent-pending program and team of experts cares about what makes your business unique and are able to completely customize a program to suit your individual needs.  Whether you need an online store created, a customer retention program, or just want to be more active on social media, we are here to help.  Call 888.936.6299 for a free consultation today.

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