Bizrate Insights In the News: June 2020
It’s been 3 months since the coronavirus and it shows little sign of abating. As businesses reopen, retailers are wise not to expect a “return to normal.” The world has changed dramatically, as has the average consumer and their shopping preferences.
Here’s where Bizrate Insights was featured in the news this June:
Emarketer, “Apparel Sales Take a Hit as Consumers Pull Back Spending on Clothes.” June 1, 2020.
- While the coronavirus has been challenging for retail as a whole, the economic effects of the pandemic have hit certain sectors harder than others. Bizrate Insights data found that many consumers are choosing to limit their discretionary spending, and few industries have felt the impact of the virus more than the apparel industry, with Emarketer forecasting a 22% drop in annual sales for 2020.
Digital Commerce 360, “The Shopper Speaks: The call of the mall.” June 22, 2020.
- Brick-and-mortar retailers have begun to open up nationwide. To ensure this reopening is a success, retailers must focus on the unique aspects of in-store shopping not available through the online experience. Bizrate Insights ran a survey with Digital Commerce 360 to find out what was most important to shoppers as they return to stores.
Digital Commerce 360, “The Shopper Speaks: The pandemic is a gift to ecommerce.” June 26, 2020.
- Ecommerce has benefited greatly from the pandemic, with a majority of shoppers ordering more products online in order to keep sheltering in place. Overwhelmingly, these shoppers have had positive experiences ordering from online retailers and intend to do so again, hinting at lasting changes in shopper behavior.
The pandemic has been ongoing in the United States for over 90 days, and it’s clear that the situation is still very much in flux. Many states have had to pause or roll back their reopening in response to sudden case spikes, forcing retailers to respond quickly while staying strategic with their own reopening strategies.
Want to know more about how the COVID-19 crisis has affected shopper behavior and the retail industry? Read our new infographic on 5 Ways COVID-19 Has Impacted Retail.