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4 views on the future of retail and the shopping experience

The global spread of COVID-19 and resulting orders to shelter in place have hit retailers hard.

As the pandemic drags on, temporary halts are becoming permanent closures, whether it’s the coffee shop next door, an historic bar, or a well-known lifestyle brand.

But while the present is largely bleak, preparing for the future has retailers adopting technologies faster than ever. Their resilience and innovation means retail will look and fee different when the world reopens.

We gathered four views on the future of retail from the TechCrunch team:

  • Natasha Mascarenhas says retailers will need to find new ways to sell aspirational products — and what was once cringe might now be considered innovative.
  • Devin Coldewey sees businesses adopting a slew of creative digital services to prepare for the future and empower them without Amazon’s platform.
  • Greg Kumparak thinks the delivery and curbside pickup trends will move from pandemic-essentials to everyday occurrences. He thinks that retailers will need to find new ways to appeal to consumers in a “shopping-by-proxy” world.
  • Lucas Matney views a revitalized interest in technology around the checkout process, as retailers look for ways to make the purchasing experience more seamless (and less high-touch).

Alexa, how do I look?

Natasha Mascarenhas

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The best investment every digital brand can make during the COVID-19 pandemic

Intuitively, stores that sell online should be making a killing during the COVID-19 pandemic. After all, everyone is stuck at home — and understandably more willing to shop online instead of at a traditional retailer to avoid putting themselves and others at medical risk. But the truth is, most smaller online stores have seen better days.

The primary challenge is that smaller shops often don’t have the logistics networks that companies like Amazon do. Consequently, they’re seeing substantially delayed delivery timelines, especially if they ship internationally. Customers obviously aren’t thrilled about that reality. And in many cases, they’re requesting refunds at a staggering rate.

I saw this play out firsthand in April. At that point, my stores were down 20% or in some cases even 30% in revenue. Needless to say, my team was freaking out. But there’s one thing we did that helped us increase our revenue over 200% since the pandemic, decrease refund requests and even strengthen our existing customer relationships.

We implemented a 24-hour live chat in all of our stores. Here’s why it worked for us and why every digital brand should be doing it too.

Avoid the common ‘unreachability’ frustration

When I started my first online store in 2006, challenges that bogged my team down often meant that my team’s first priority became resolving those challenges so that we could serve our customers faster. But admittedly, when these challenges came up, it became more difficult to balance communicating with our customers and resolving the issues that prevented us from fulfilling their orders quickly.