The buying behavior of consumers has changed with the pandemic.
It is a matter of time before discretionary spending such as apparel starts to decline. You cannot decide to stop eating, but you can decide to continue wearing those pants just a little bit longer.There will be a need for an increased focus on demand activation, targeting consumers with firm buying intent.
Companies need to find and target buyers where they are, and this will include more than ever in front of their connected TV. Businesses will do well to buy enough to be able to fulfill demand and not frustrate consumers with long waiting times, but they should not buy too much.Demand is actually expected to lower in 2022 – as said above, especially discretionary spending will suffer – and buying too much will make for packed warehouses.There is a high chance that there are some big players in their category that did not plan for the supply chain disruptions. Less competition equals a better return on investment.
Ecommerce businesses should consider partnerships with companies such as Happy Returns – that provides an end-to-end enterprise return service – where their own resources fall short.
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