There's no doubt that COVID-19 has affected the way that businesses operate during the global pandemic. With a lot of uncertainty hanging in the air as to when things will return back to normal, it's safe to say that consumers will be scrolling online to scratch that retail therapy-itch for the foreseeable future. The virus has had a huge impact on how business owners sell their goods and services, and forced entrepreneurs to start thinking creatively on how to keep the ball rolling. Labyrinth Merch is no exception, and the merchandising industry as a whole took a huge hit. A lot of artists, digital talents and entertainment businesses rely on merch sales to keep their heads above the water and streamline their income. Let's have a look at where things are heading and how some entrepreneurs will have to turn to online sales and e-commerce platforms to market and sell their products.
According to ChannelAdvisor and research firm Dynata, 2 in 5 consumers will continue frequently shopping online even after COVID-19 lockdown restrictions have ended. (31% aged over 56 and 42% aged between 36-45)
The study shows consumers were purchasing digitally at a higher rate after the crisis hit.
26-35 year olds, 48% of 36-45 year olds and 41% aged over 56 were doing most shopping online.
There has never been a better time to hone-in on digital sales and study the art of e-Commerce.
Younger consumers are most likely to continue online shopping more often post-COVID-19, according to the survey of 1,033 UK consumers, with 59% of those aged 26-35.
36% of consumers are purchasing luxury items online as well as their essential products.
27% of online shoppers spending over £300 online in the last two months on items aside from essential goods.
Those surveyed said apparel items were the third most popular choice when asked what products they would next be purchasing online excluding essential goods.
Jon Maury, EMEA MD at ChannelAdvisor, said: “While some shops may re-open on 15 June, the in-store experience will likely be quite different to what many consumers are used to, and these results indicate that digital channels will continue to offer a lifeline for retailers and brands. Lock down has driven many consumers online in search of essential and luxury goods, and there are signs that many will continue shopping online, particularly older consumers who tend to have a more disposable income.”
People are now more conscious not only of what they are buying, but also who they are supporting at this time of crisis. This has led to a greater sense of camaraderie within the creative communities and built a stronger relationship between buyer and seller.
Labyrinth Merch is here to help your brand in these pressing times. We believe in building and supporting digital talent that express individualism and creativity, so if you or your brand feel ready to dive into the merchandising industry, get in touch with our team and we'll offer you a free consultancy.