Retail Apocalypse accelerated by Covid-19
The retail industry has struggled for some time, with brands such as Forever 21 shuttering stores even before the pandemic. COVID-19 has worsened the retail apocalypse, with major retailers such as Victoria’s Secret UK and Zara having succumbed to the COVID-19 fallout through bankruptcy and permanent store closures.
Nonetheless, COVID-19 is not an end-all for retailers. While most e-retailers struggle with a decline in conversions amidst lower consumer spending power and an increasingly crowded digital space, online retail in various categories have seen a rise in sales, and many Singapore have increased their online shopping activities. In times like these, a website’s visitor becomes especially valuable and conversion rate optimisation becomes exceedingly important.
With a strong focus on performance marketing, we have helped some of our B2B and B2C clients by applying CRO hacks to improve conversion rates and meet lead & revenue goals during uncertain times. Apart from that, we also recognize the need to help our clients to uncover smart technology for their e-commerce to reduce operational costs and improve customer lifetime value.
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