These are trying times for all U.S. business but especially tough on those in the retail sector as the COVID-19 pandemic is something that’s not been dealt with in a century and back then retail wasn’t what it is today.

Retailers are grappling with mandated shutdowns, lawmakers urging consumers not to congregate anywhere, much less a mall or retail brick-and-mortar store, for both customer and employee safety reasons and a very disrupted supply chain. The retail schematic, at this point, is unlike any other challenge retailers have faced in a very long time — even in comparison to the recession of 2008.

The challenge to the smaller retailers is much more intense given lower revenue, consumer base and less negotiating power when it comes to product production needs.

Retail Customer Experience reached out to Mike Rittler, head of retail card services at TD Bank, to get deeper insight on what the coronavirus event is doing to the small and large retailer and how retailers can meet consumer demand in these challenging times and keep the customer experience at a high level.

Q.  Retailers are making some hard decisions (closing stores temporarily, laying off staff) in light of COVID-19. Historically this hasn’t happened with health-related events. How unique is this for the retail segment?

A. There’s no question what retailers across the globe are facing currently is unique. While we’ve experienced recessions and other economic events that have slowed business, this is the first event that is majorly impacting our in-person business, highlighting the need to be prepared for anything.

While the decision to close down the physical stores is unique in this circumstance, it highlights the need for a robust online presence to keep people engaged with your brand and products during this time.  Also, when we are back up and running at physical locations, it will be critically important to reengage people.  This re-engagement plan will help the best retailers recover more quickly and rebuild their loyal customer base.

Q. What should retailers be doing in light of the pandemic — specific tips or best practices you can share.

A. Brick and mortar retailers who may be experiencing store closures, less foot traffic or reduced hours, should prioritize keeping in close contact with their customer base through digital forms when in-person engagement is impossible or reduced. This can be executed in a variety of ways, such as social media marketing or direct-to-consumer email marketing. Despite the fact the physical stores are closed, customers should still feel the strength of their loyalty and engagement with the brand.

Consider expanding the breadth of online offerings — if you’re unable to sell and ship online, consider providing consumer the option to purchase gift cards virtually for loyal customers who want to support the business even when it’s closed.

Omnichannel or online retailers may be better positioned to deal with store closures but shouldn’t lose sight of maintaining the best experience for customers. Making sure the customer experience on the website is straightforward and enjoyable is also critical, so customers can still purchase and engage in a frictionless, easy way.

Q. What shouldn’t retailers be doing?

A. Retailers shouldn’t lose sight of their network by continuing to engage with their vendors and partners. In times of uncertainty, they should feel encouraged to work across their network to provide the best experience for their customers, in a way that can be mutually beneficially for all partners. This could range from offering special offers through their finance partner or working with distributors to provide free shipping.

This will be particularly important at the point of reengagement, when retailers are rebuilding their loyal customer base and, hopefully, engaging some new customers that discovered them from their digital presence.

Q. How critical is social media outreach within this event?

A. The advances that we’ve seen with social media engagement from the retail sector have been extraordinary over the past five or so years. Given so many have established social media footprints and followings, the time is now to keep up the momentum and use that forum to foster customer connection and loyalty even further.

Customers will likely have many questions and take to social media to get answers — keep up with your accounts to not only react to customer inquiries and concern, but also proactively provide updates on your business’ current situation.

Q. How can retailers be better prepared for any future sort of event like this?

A. Contingency planning is critical under any circumstance, and how we’re seeing this pandemic unfold is evidence of that. Included under that umbrella is having a close awareness of all vendors within your supply chain and their contingency plans as well. Also, even if you have global operations, it’s important to have a network of local vendors in the event supply chain disruption is severe.

If there’s one thing we know, crisis situations are not really all that uncommon, in fact, we see a crisis just about every year to 18 months. While they all take different shapes and forms, it’s the companies that prioritize the needs of their people — their customers, their employees and their partners — that make the best decisions for the long term. 

So while we cannot plan for every circumstance, as this crisis has proven, we can have a core, fundamental operating system to guide our decisions during crisis.  True leaders emerge during crisis, and everyone is looking to leaders now to weather this crisis.