How 2020 has radically changed consumer behavior and what we can learn from it

The corona crisis has turned the retail sector upside down. Consumer behavior has changed abruptly and profoundly – ​​now and perhaps forever. Retailers have to work hard to meet ever-changing customer demands and stay relevant. What can we learn from 2020? And how can technologies such as RFID contribute to an improved customer experience?

Omnichannel strategy is indispensable

The past year has been a rollercoaster for many retailers. Most companies have now adapted to the new reality and embraced new technologies where possible. The digital transformation has accelerated. Before the pandemic, many retailers were already making great strides in the transition to an omnichannel strategy. The corona crisis has made it clear that this way of doing business is necessary to be future-proof. When we look at the ‘new consumer behaviour’, it encompasses all aspects of everyday life, from how we work to how we shop. The latter is particularly reflected in the increase in e-commerce. When customers were unable to physically visit stores due to the restrictions of the lockdown, they started their search online in online stores.

Distinctive customer experience

Another trend is that consumers are more likely to shop close to home and prefer trusted brands, according to a study by McKinsey. In addition, something else stands out: people shop less frequently, but the content of their (digital) shopping basket, on the other hand, is larger. These abrupt shifts have left many retailers struggling to serve customers effectively through other channels. McKinsey predicts: Retailers with an omnichannel approach that are flexible to adjust – and thus create a distinctive customer experience – will recover faster from the pandemic. Many retailers are trying out ‘new’ models, such as buying online and picking up in-store. It is expected that these types of models will be permanent and that consumers will continue to use them after the pandemic.

Maximum efficiency with RFID

After a challenging year in 2020, it is now essential to continue to serve shoppers in a relevant way. In today’s omnichannel world, it is more important than ever to offer the right products in the right place and at the right time. Technologies such as Radio-frequency identification, or RFID, are very popular for this. Checkpoint Systems developed the HALO platform, an RFID solution that helps retailers improve the consumer experience. It makes replenishing the store stock easier, faster and more efficient. For example, it is possible to track stock from factory to store, giving store managers complete insight into where their stock is and when it will arrive. This saves retailers time, improves the customer shopping experience and increases sales.

Building Brand Loyalty

If there’s anything 2020 has taught us, it’s that a hybrid approach to retail is key to survival. The integration between online and offline points of sale is a unique opportunity to create the same customer experience everywhere. A consistent brand experience makes customers happy to return. According to McKinsey, the ‘winners in the fashion industry’ are the retailers who listen to consumers’ needs and expectations and translate these into a carefully thought-out omnichannel strategy. These winners know their customers better than their competitors and inspire long-term trust. With the right tools and partners like Checkpoint Systems, they succeed in maximizing the customer experience and building brand loyalty by helping customers buy what they want, when they want it.

Over Checkpoint Systems

Checkpoint Systems is a global leader in loss prevention for retail. The company offers smart solutions that provide clarity and efficiency, always and everywhere. These solutions build on fifty years of expertise in radio frequency technology, innovative theft and loss prevention systems, industry-leading software, RFID hardware and comprehensive labeling solutions to identify, secure and track items from source to store shelves. For more information, see: www.checkpointsystems.com


Source: fashionunited.nl by fashionunited.nl.

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