Through this collaboration FCB India and Networkbay will work with brands and retailers to quickly adapt to this new s...
FCB Indiaand Networkbay's initiative, ‘Retail: Day 1’ will help brands and retailers ‘manage, redefine and transform’ their retail experiences in the post-COVID era.
- It is aimed at creating enhanced new retail virtual experiences which are engaging and at the same time fulfilling business requirements of conversion and sales for brands.
FCB India has collaborated with Networkbay to launch an initiative, ‘Retail: Day 1’, that’ll help brands and retailers to ‘manage, redefine and transform’ their retail experiences in the post-COVID era.
Considering the changes we are seeing in today’s world, owing to social distancing, it is being anticipated that consumer behavior might undergo a sea change in the post-Covid era. People might still want to opt for contactless experiences.
The launch of ‘Retail: Day 1’ therefore beckons the first day of contactless retail experience. Through this collaboration FCB India and Networkbay will work with brands and retailers to quickly adapt to this new scenario. By leveraging digital tools and spatial design innovation, ‘Retail: Day 1’ is aimed at creating enhanced new retail virtual experiences which are engaging and at the same time fulfilling business requirements of conversion and sales for brands.
A recent survey by
- 9 in 10 consumers have changed their traditional shopping habits
- More than 50% of consumers have ordered products online that they would normally purchase at the store
- Nearly 6 in 10 consumers say they are worried about going to the store due to fear of being infected
Some of these changes would be temporary while others will be permanent. As the community moves beyond the survival mode, the digital-adoption momentum is likely to carry forward and become permanent. As a matter of fact, consumer behaviour will be dependent on 2 factors - the reluctance to mingle in crowded public places and higher propensity for digital adoption. While the survey by NRF represents finding in America, but the human sentiments resonate with the changing behaviour across the globe.
A study by Deloitte published on March 30, 2020 shared an outlook on the retail industry with the emphasis on changing behaviour.
Non-contact demand during the pandemic is expected to boost sales at smaller stores that can host smaller crowds at a time. However, supermarket chains have ensured supply of products at regular prices
Due to the pandemic‘s impact on consumer behaviour and habits, “online-sales” are expected to witness a significant surge, even after the industry recovers
The establishment of online platforms is expected to become indispensable for offline stores, and online–offline service integration is expected to increase.
A Nielsen study unveiled in March 2020 looked at the retail purchase in traditional, modern and e-commerce channels, and evaluated consumer attitudes. It tracked this behaviour for several weeks from the time the disease first surfaced in India till the country went under a lockdown. First, it observes an increase in consumer interest in health and hygiene products, leading to purchase of safety items such as hand sanitizers and face masks. As the disease spread, consumers started stockpiling their pantry with shelf-stable food and broader assortment of health and safety products. Store visits went up and the basket size expanded. The quarantine stage, followed by restrictive living, led to a rise in online shopping, fewer store visits, purchase of essential goods.
A recent Mckinsey study in China suggests consumers are likely to opt for online shopping even after the outbreak ends, especially for categories such as groceries and personal care. This trend is likely to continue long after the lockdowns are called off as people would still be apprehensive to visit crowded areas like malls or supermarkets.
The aforesaid data and research excerpts imply that it is time for contactless retail experience for brands and it is here to stay. Even after the lockdown is lifted, consumers will still be apprehensive about stepping out and visiting stores. The footfall would be very low. China is a precedent of this consumer behaviour pattern. With the emergence of the online platforms that empower the consumer whilst ensuring their safety, engagement will be driven more on the basis of the ‘experiential’ rather than ‘material’. The post-covid retail environment will surely be a default online retail preference. And with the launch of ‘Retail Day: 1’, we announce our day 1 at the new normal, as we adapt to the new game.
Speaking on current challenges,