This article is part of Raydiant’s Consumer Behavior series which interviews top industry experts to better understand the effects that the COVID-19 pandemic is having on consumers, how businesses can adapt to these changes and how it will shape shopping experiences in the future.
The following is an interview we had with Emil Kristensen, CMO and Co-founder of Sleeknote.
How has consumer behavior evolved over the past 5 years?
EK: We know for a fact that consumers today are more digitally savvy than they ever were. They are willing to buy products online, which would be considered a dangerous step by many 5 years ago. It is also evident that customers care more about their data protection and can even take action, leave a company if it does not handle their data well enough. So I believe it is more conscious and e-commerce based.
What are the biggest consumer behavioral changes you’re seeing due to COVID-19?
EK: Consumers are a bit more unpredictable than usual. If we could see the number of traffic to one of our customers’ pages decrease, we would know that they will f.e. downgrade a plan. However, that is not so easy to predict when COVID-19 steps in.
How can brick and mortar retailers adapt to these changes?
EK: I think it is a great idea to experiment with omnichannel marketing strategies. A lot of brick and mortar stores haven’t used the potential of the internet yet, and they need to reach their potential customers in as many platforms as they can. Now, there is an opportunity to bring your brand to the next level.
What behavior trends should retailers be focused on?
EK: I would not necessarily say to follow a trend, I would recommend looking at what is coming next. Today it is quite obvious that you should be found on the internet, make sure your terms and policies are clear, but thinking out of the box will often bring you more success than following a specific behavioral pattern. I would say, test new things and find new ways to stand out, and customers will love it.
What will the consumer shopper of the future look like?
EK: If we look at the trajectory we are going in now, I am sure e-commerce will become the most common way of shopping one day, but what customers care about will barely change. Quality and price will always be one of the most important factors. And I am sure that finding creative ways to position your brand will still be important. But of course, it depends on how far in the future we speculate.