Covid-19 has caused a fundamental shift in consumer behavior toward digital. According to the U.S. Census Bureau, e-commerce sales have increased a whopping 33% in 2020 over 2019. With everyone quarantined at home, consumers are shifting to shopping online rather than at a store.
According to the latest McKinsey & Company survey, consumer sentiment is going digital. Here are some interesting takeaways from the survey:
- Consumers continue to shift their spending to essentials (i.e. groceries), but “discretionary” spending is slowly recovering.
- 68% of Americans continues to refrain from engaging in “normal” out-of-home activities, down slightly from 73% in August.
- 77% of Americans are trying new shopping behaviors during the crisis including new methods, brands, and places, with the intention of sticking with them in the long-term.
If your business needs to upgrade its online presence to take advantage of this change in consumer behavior, here are some steps that you can take:
- Add an e-commerce module or booking module to your website.
- Set-up your Google My Business and Bing Places for Business listings. Google allows you to showcase products and pricing that link to your e-commerce page or for hotels, showcase your room rates and link to your booking page. This helps consumers to find you when doing an online search.
- Use Facebook Commerce Manager to set-up online shopping on Facebook and Instagram. Facebook Marketplace is a fast growing platform for e-commerce and it’s free.
- Run shopping ads on Google. You must have an e-commerce site to run these ads.
- If your business is tourism related, get listings on travel sites like Tripadvisor and Expedia (which also owns CarRentals.com, CheapTickets, Expedia.com, HomeAway, Hotels.com, Hotwire.com, Orbitz, Travelocity, trivago, and Venere.com). Expedia sites get 750 million visitors per month and Tripadvisor gets 390 million visitor per month. You don’t have to be in the hotel business to be listed. They also list attractions and things to do.
Every business has had to pivot during this pandemic. Changing your marketing strategy to align with consumer behavior will help your business through this crisis and stronger afterwards. Let us know if you need help.