As many states look to start opening up their businesses, fear and financial insecurity are still the main drivers of how consumers are shopping. Fear of the coronavirus is keeping many people indoors even after being quarantined for two months, and with the number of newly unemployed now hitting Great Depression levels, fear of running out of money is leading shoppers to stretch their dollars as much as possible. These are some of the topics ECRM's Joseph Tarnowski touches on during this podcast interview with Elizabeth Gretkowski, Senior Consultant at WSL Strategic Retail, as they review some of the findigs of WSL's latest research on how Covid-19 has impacted shoppers.
When Joe interviewed WSL CEO Wendy Liebmann six weeks ago, the quarantine was still fresh and consumers were still in panic-buying mode. Now, consumers realize they are in this for the long haul, and so Liz and Joe also explore what the shopping landscape will look like as we progress through the pandemic and beyond it. Liz wraps up with some recommendations on how brands and retailers can survive today's challenges.
WSL Strategic Retail Website: http://www.wslstrategicretail.com/
ECRM Podcast interview with Wendy Liebmann: https://anchor.fm/ecrmpodcast/episodes/49--How-Coronavirus-Has-Changed-the-Way-Consumers-Shop-Wendy-Liebmann--WSL-Strategic-Retail-ec5v12/a-a1qgcke
Watch this interview on YouTube: https://www.youtube.com/watch?v=nc6mbhV8S3k