News and Analysis
Location-Based Search Disrupts Brand-Centric Theory of Marketing
Building a brand will never stop being essential for companies with brick-and-mortar locations hoping to secure the dollars of nearby consumers. But a new report from location marketing firm Uberall suggests the rise of location-based or “near me” search is undermining the power of branding alone, increasing the importance of optimizing for searches in which consumers are simply looking for the closest, most convenient option while on the go.
Covid-19 Accelerates Online-Offline Retail Convergence
The coronavirus pandemic has accelerated the offline-to-online convergence in retail, leading to a huge shift in the way people shop over a short period of time. Shelter-in-place orders have forced shoppers to purchase the majority of their goods online, and it’s made retailers rethink the way they’ll operate in the post-pandemic world.
Big0-box retailers have beefed up their ecommerce divisions, and we’ve seen dozens of major chains with new curbside pickup options. Some types of retail environments have done better than others. Hardware stores, like Home Depot and Lowe’s, have found themselves categorized as “essential” businesses, and they’ve been able to remain open in many areas with little adaptation necessary. The transition has been harder for retailers in high-touch categories, like clothing, and for those independent operators that didn’t have websites with ecommerce capabilities in place before the pandemic began.
What Comes Next For Businesses After Covid-19 Shutdowns?
As states around the country begin to reopen their economies, local businesses are looking anywhere they can for guidance. County health departments are issuing advisories about proper social distancing and sanitation practices, but what about the technology upgrades businesses might need when they reopen after their pandemic shutdowns? How might business contend with changes in optimal inventory levels if shoppers continue to buy in bulk?
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