Although the effects of the COVID19 pandemic continue to reverberate in global economies, it remains difficult to see when we could return to a semblance of “normality”. But whether in six months or two years, the day will come when restaurants, nightclubs, and retailers will be able to open again. here is the question of How COVID19 influences buying behavior – Localization options for your business.
But even if on the surface things may look like they were, the change in consumer behavior that we are currently seeing may not only be short-term, but we may be seeing an evolution in behavior and the introduction of a new set of standards – a redefinition of our global retail landscape.
To understand what these long-term effects might be, we need to examine early signs of behavioral change, understand what is affecting consumer behavior and whether these trends are likely to continue in the future.
What is certain is that change is imminent and companies should be aware of this and adapt their commercial approach accordingly. For global retailers, this means an intensified focus on localization, including localization testing. Localization testing needs to be strategic and thorough if it is to be effective. As such, companies need to embrace it fully if they are to get the best out of it and thus be able to respond quickly to changes in consumer behavior
What influences consumer behavior?
To get things back to basics: Consumer behavior is essentially the actions of consumers in the marketplace and the motives behind those actions. Consumer behavior is of course due to things like personal preferences and the culture we live in, which can shape our values and perceptions, which in turn can change consumption patterns.
But it is also influenced by economic, social, and environmental factors and by the emergence of new technologies. If we look at the current crisis, we see that each of these factors is present.
From an environmental perspective, social distance restrictions, the mass closure of public institutions, and non-viable businesses on a global scale in response to the crisis have undoubtedly changed our consumption patterns. Of course, if individuals cannot physically enter shops or restaurants, they cannot spend, but it is also important to note that the fear associated with staying in public places undermines their propensity to spend and consume, and this is likely to continue even as countries begin to relax restrictions and gradually reopen their economies.
As a result, in economic terms, we are experiencing a huge increase in unemployment throughout the world, as some economies in the world are practically coming to a standstill. A global recession is inevitable and the chances of a V-shaped economic recovery seem unlikely, as there is no fixed timetable for things to return to normal. A long-term change in behavior and a gradual reopening of economies will pose a financial challenge for both governments and citizens, leading to a general decline and restraint in discretionary spending.
The consequences of this are crystal clear: not only will consumers spend less, but they will also change the place where they spend their money.
What are the initial signs?
This year, e-marketers predicted that e-commerce would account for just over 16% of global retail sales, which would amount to about $4.2 trillion. However, this figure is likely to be revised in the coming months. According to Forbes, e-commerce is expected to flourish in the coming months as consumers turn to digital alternatives to avoid physical shopping environments, but don’t be surprised if this trend continues.
A number of industries such as restaurants, tourism, and entertainment have been hit hard by the pandemic. While there may not be much that can be done in the case of tourism other than trying to weather the storm, other severely affected businesses are trying to adapt. Many restaurants that traditionally operated a food-only model have become delivery service providers, and there was even a pub in Northern Ireland that got creative and established a contactless beer delivery service.
Conversely, the product categories of electronics, health and beauty, books, and streaming services are on the rise. We are also seeing a trend of stock shortages in a number of product categories due to disrupted supply chains. As a result, more consumers are looking for products online, some for the first time. This shift to digital shopping represents both a challenge and an opportunity for companies worldwide.
Digitization
E-commerce or online sales aside, companies can no longer resign themselves to creating a digital presence, be it through social media accounts, a website, Localization Options for Business, or preferably both. As customers and potential customers are now restricted in their physical movements, traditional methods of customer acquisition and retention such as holding events, presenting sales calls, etc. become almost impossible.
As a result, it is high time that companies in all industries are digitally supported. These platforms will become an integral part of acquiring and dealing with potential customers in the new commercial and the WordPress translation environment.
E-Commerce opportunities
While current supply chain issues are in contrast to cross-border e-commerce in the short term, in the long term they will have the opposite effect. As more and more purchases are made online, this behavior is likely to continue in the future. According to marketers, e-commerce habits ”form during periods of intense activity, and when those habits are already in full swing, they become even stickier”.
So, what does this mean? Now that e-commerce was already on the rise, the coronavirus will basically act as a catalyst for its widespread introduction. So, in the short term, retailers, whether online or not, will focus on finding their way around a rocky economy, but in the long term, there is a real opportunity.
For those companies that have not yet fully adapted to the digital market, now may be the right time to start. Setting up your own website and adapting your business to things like delivery could mean the difference between going under or floating in the next few months.
If you already run an e-commerce platform and Localization Options for Business, your strategic focus should be on optimizing your offering and providing consumers with the most personalized experience possible. As more and more consumers shop online and their willingness to buy diminishes, you should ensure Localization options for your business that all fields are covered to ensure a sale.
An intuitive and visually appealing e-commerce store is a great start, add a variety of payment options, and localized content, and you have a winning combination.
A large part of localization is website translation, and although this may seem premature if you can only operate in the domestic market at the moment, there are a few things you need to consider:
What is the target language of your website?
Where do most visitors come from and in which language do, they read your content?
Are there international visitors who might not understand your website content and how can you optimize your website content?
If you recognize these patterns, e.g. with the help of analytical tools like Google Analytics, you can find out that you may have visitors on your website who could also become potential customers.
An interesting option is to redirect visitors to their localized language versions. This means that a user who accesses an English website from Spain will be automatically redirected to the Spanish website version. This way you do not lose a single visitor or even customer. Here you may also read How to Start a Blog and Website for your targeted Visitors.
Of course, this plugin differs enormously from many others in that it is based solely on artificial intelligence and the generation of high-quality content. This saves you additional translation costs and a lot of time, which you should invest in your business. If you want to catch this kind of Unique content than you need to visit on Trotons Tech Magazine. It is the best WordPress News and Update Blog.
