How your new normal could improve customer and staff retention

Consumers have undergone a once-in-a-lifetime disruption, creating new opportunities for nimble brands to build new relationships. With waves of new online customers, more tech-savvy consumers, and potential shocks to brand loyalty, how are you adjusting your business-as-usual?

Understanding consumers’ behaviour.

Businesses have faced challenges throughout the pandemics, be it due to the lockdowns and closure of retail outlets, to the ever-changing shifts in demand. With the world in a rolling lockdown, consumers became increasingly familiar with online shopping options. As restrictions continued and spending options were decreased, more and more consumers diverted their discretionary spending from unused travel, leisure, and services to products they could buy online. 

Since March 2020, 73% of Australian households have been shopping online regularly. More troubling for some retailers, a quarter of Australians say they are now less likely to shop in-store as a result. When they do shop in-store, overwhelmingly they’re more likely to shop with contactless payments than ever before. 

Knowing your competitors.

Australian consumers' shopping behaviours have changed. During the pandemic they’ve been forced to look locally, Supply shocks and movement restrictions have driven Australian consumers to support and purchase local products and services.

Also, consumers’ expectations have changed. With many households accumulating savings and having more discretionary income to spend, they’ve spent more time thinking about the ethics of their purchases. In response, companies have sought to strengthen their credentials. They are educating their consumers on sustainable packaging and getting involved in recycling programs to address the problematic waste. Keeping up with Australian consumers with their love for coffee, popular brands like Nestle and Nespresso, are improving their products and services by selling recyclable coffee pods, which are made out of 80% recycled aluminium.

Source: Retail World Magazine

Likewise, Praise has shifted its mayonnaise and aioli bottles to 100% Australian recycled plastic and 100% renewable energy. 

Source: Retail World Magazine

Brands are rewarding.                                                                                                                                                                                                                                                                                       

Brands are competing to gain bigger market shares, hence, it is crucial to be a step ahead of everyone else. 

Many businesses are dipping into rewards programs in pursuit of loyalty and retention. In fact, compared to discounts, rewards-based promotions have an increased 27% return rate. Further, businesses also had a 49% boost in sales from the rewards programs themselves. 

It’s not just customers that are positively influenced by these programs. Research shows that rewards programs are beneficial to improving employees’ morale and minimising turnover rates. However, it needn’t be limited to employer-driven incentives. Colleagues or partners can give a shout-out to one another to recognize their efforts for making an impact on the business. What’s better than sending each other an instant gift in real-time to praise and improve the relationship amongst each other?

Connecting with consumers in the “new normal”.

Consumers have changed. As they re-engage with normality they come back with different expectations and different values. Align yourself with their new normal by showcasing how your brand meets and beats their expectations. 

Promote your brand’s values and engage your customers with rewards-based promotions to ensure they know that you understand their changing needs. incentives to retain more of your new business.

Find out how we have helped 2,000+ increase their engagement internally and externally with promotional campaigns and rewards programs.