3 Customer Retention Strategies That Work in a Recession

And the forecast for the decline in global GDP keeps getting worse. In April, Fitch Ratings put the global GDP decline at 3.9% but has revised that forecast to 4.6% in May. Companies are implementing cost-saving measures, new strategies, and increasing operational efficiency to ensure their survival during this recession. Customer acquisition can be expensive and difficult in the best of times. In the middle of a global pandemic and recession, it has become even more so.

The Only KPI That Matters Right Now for Your Business: Consumer Confidence

With the novel coronavirus pandemic still raging on, nearly 4 billion people are on lockdown worldwide. These lockdowns may range from strict nationwide stay at home orders as seen in New Zealand to partial lockdowns of hot zones in countries like Nigeria. Economies around the world are feeling the effect of the lockdowns, which is necessary to prevent the spread of the SARS-CoV-2 virus. Fitch Ratings forecasts a deep global recession this year with a 1.9% decline in global economic activity.

Things Ecommerce Businesses Can Do To Support Customers Amidst The Coronavirus Outbreak

With the Covid-19 pandemic, ecommerce is experiencing a boom in most parts of the world. As consumers stay home to curb the spread of the coronavirus, buying important supplies online is the only path left. Chinese ecommerce giants, Alibaba and JD Doajia, reported a 220% and 470% increase in sales this year when compared to last year. In the US, online grocers Instacart and Farmstead saw a 10% and 30% increase in orders and deliveries in one week in March.

How to Increase Website Engagement During the 2020 Pandemic & Recession

Online user behavior has changed. Consumer behavior is in a state of flux as people adapt to a world remarkably different from the one they are accustomed to. In March, Google reported that searchers’ immediate needs were accessing government instructions and shop closure information, food, short-term jobs and financial relief. A month later, another Google report shows that searchers are shifting the focus to mobile usage and continuing education, government help programs, and digital banking.

Ensure Business Continuity during the COVID -19 Pandemic (5-Step Plan)

Online behavior has been turned on its head as many people started working remotely and staying at home to curb the spread of the novel coronavirus. Being homebound means people have to rely on social media and other online tools as a way of connecting with coworkers, friends, and family. Sprout Social reports that the optimal time to post on social media for maximum engagement has changed because of more homebound people spending time on social media.

Stuck at Home? Try These Food & Grocery Deliveries & Services

Nearly half the world’s population is on lockdown as the Covid-19 pandemic rages on. Most countries on lockdown have restricted movement except for workers providing essential services in food, healthcare, delivery, etc. As lockdowns extend and the fear of contracting the virus keeps more people indoors, grocery and food shopping will be put on hold. Luckily, there are food and grocery delivery services that will help you stay indoors while supplying you with delicious necessities.

Ecommerce Needs to Sustain Normal Life - A COVID-19 Update

The Covid-19 pandemic has ground normal life to a halt in many countries. Mass lockdowns, school closures, bans on non-essential services and large gatherings have forced people indoors and limited economic activities. Industries from manufacturing to travel are feeling the pinch as consumers hunker down at home to slow the spread of the novel coronavirus. One sector experiencing a surge amidst the downturn is Ecommerce.
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