A single Hermes’ store in China reported record sales of $2.7M in a day as stores reopened after lockdown
Experts in India & around the world are storming their heads on how the retail ecosystem (business model, supply chain & consumers) would evolve in post COVID rebound.
While there are myriads hypothesis on types of shoppers who would emerge out of this record lockdown, we have tried to categorize them below in short/medium term:
1. #Revenge Shoppers: who will splurge & overindulge in retail therapy to compensate for missed shopping opportunities. (Long queues, spending sprees)
2. #Revelation Shoppers: Who have done the daily drudgery (sweeping, cooking) will shop in categories like vacuum cleaners, washing machines, etc.
3. #Restricted Shoppers: who will continue to be skeptical of shopping freely, will shop by appointment, prefer virtual trials (AR/VR) & contact-less payments
4. #Robust e-shoppers: who will adapt to shopping online, will look for online exclusive products & offers
5. #Ritualistic shoppers: who will retain their pre-lockdown offline shopping habits So, which shopper category do you belong to?
P.S. Paycut, Job loss & business failure will be an underlying variable deciding category.