In the last article, we discussed consumer behavior under the impact of diseases and war. Here we would like to use a quote again, “It’s going to be hard, but hard does not mean impossible.” Where is a will, there is a way to move forward.
This article will explore the way to react to the new trends and attributes of consumer behaviors. There are several aspects that we take action.
Data Analysis
Retailers could make full use of automation, programs to make sales predictions and understand new consumer behavior. I, myself, as a consumer as well deeply understood that purchase decisions could be changed suddenly without any sign. However, there are general trends and rules of consumer behaviors. For any particular item, data scientists can track the data and find clues about consumer behaviors. The manager can utilize the conclusion to make a strategy toward the related shopping preference and manage inventory. Retailers can use data and trends to optimize the production selection progress and make practical price strategies to adopt the consumers. On one hand, it increases sales; on the other hand, it saves costs on capital and warehouse management.
Flexible employees program
One important operation cost is the labor cost. Due to the unstable sales, retailers could hire fewer seasonal employees in anticipation of slower growth. it helps to meet the work loading demand in peak season, but also saves cost during the down season. During a pandemic, more people realized the importance of the family and are willing to spend more time with the members. Thus, this is a win-win solution for employers and employees.
Earlier promotion time
As we have discovered the shopping season is shifting, and retailers can make proper promotion plan at different times. Instead of one time in the black Friday, Christmas, and New Year shopping, retailers could spread in one year to promote the sales, particularly when there is a rising trend in the sales. The retailer can give a hand to push the sales to a new peak. This could also help inventory management and capital cost.
Personalized interaction
Besides the quality, and price of the product, the service also plays a key role in shopping decisions. Proper training for the sales and customer service people is necessary for boosting sales. It can drive sales performance and better consumer outcomes.
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