As Stores Reopen, Which Customers Are Most Likely to Return?

Knowles et al explore the kind of customers that will most likely to return as stores reopen. The COVID-19 pandemic and associated lockdowns throughout the US have dramatically affected shopping behavior and shifted priorities for retail customers. While the pandemic has resulted in revenue declines...

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Veröffentlicht in:MIT Sloan management review 2020-10, Vol.62 (1), p.1-10
Hauptverfasser: Knowles, Jonathan, Lynch, Patrick, Baris, Russell, Ettenson, Richard
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Ettenson, Richard
description Knowles et al explore the kind of customers that will most likely to return as stores reopen. The COVID-19 pandemic and associated lockdowns throughout the US have dramatically affected shopping behavior and shifted priorities for retail customers. While the pandemic has resulted in revenue declines for the majority of businesses, some brand owners and retailers have seen significant growth by adapting their offerings and communication to capitalize on new customer needs and behaviors. Here, the scale and variation of the lockdown's impact on shopping behaviors across a number of product categories, fielding three surveys among a representative sample of more than 5,000 US households, are highlighted. As it became clear that the reopening of the economy would be phased, the research has been extended to identify a new spectrum of customer segments and the factors influencing their likelihood to return to in-person shopping.
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source MIT Sloan Management Review; EZB-FREE-00999 freely available EZB journals
subjects Behavior
Consumer behavior
Coronaviruses
COVID-19
Customers
Health risk assessment
Health risks
Pandemics
Quarantine
Retail stores
Retailing industry
Shelter in place
Shopping
title As Stores Reopen, Which Customers Are Most Likely to Return?
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