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  • Epsilon Secondary Research Task

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    AMISH JHA
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    The retail landscape in the US saw steady growth before the COVID-19 pandemic, but COVID-19 impacted businesses significantly as only essential stores could operate for a while. The pandemic also caused major shifts in consumer preferences, loyalty programs, and the need for retailers to focus on online and in-person experiences. There is a need for retailers like Costco to adapt their loyalty programs and shift to an omnichannel model to address changing customer expectations in 2021.

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    The retail landscape in the US saw steady growth before the COVID-19 pandemic, but COVID-19 impacted businesses significantly as only essential stores could operate for a while. The pandemic also caused major shifts in consumer preferences, loyalty programs, and the need for retailers to focus on online and in-person experiences. There is a need for retailers like Costco to adapt their loyalty programs and shift to an omnichannel model to address changing customer expectations in 2021.

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    35 views6 pages

    Epsilon Secondary Research Task

    Uploaded by

    AMISH JHA
    The retail landscape in the US saw steady growth before the COVID-19 pandemic, but COVID-19 impacted businesses significantly as only essential stores could operate for a while. The pandemic also caused major shifts in consumer preferences, loyalty programs, and the need for retailers to focus on online and in-person experiences. There is a need for retailers like Costco to adapt their loyalty programs and shift to an omnichannel model to address changing customer expectations in 2021.

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    © All Rights Reserved
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    of 6

    Ideated &

    submitted by :
    Amish Jha

    SECONDARY RESEARCH
    TASK
    Framed for E P S I L O N
    RETAIL LANDSCAPE
    AT LARGE
    A The overall Retail USA landscape saw a steady growth over the
    B period of time where all the stats and figures were growing
    exponentially before February 2020.
    Announcement of COVID and listing essentials-only changed the
    retail stats and opened a lot of avenues, and data in every frontier.
    There is more of data and less of insights!
    COVID-2019
    Pandemic

    C A. Organized retail saw a C. Changes in the format of


    steady Growth Pre covid Products, post covid-19
    D
    B. Covid-19 Impacts D. Changes in the industry
    businesses and to human experiences saw
    essential only are a massive shift →
    allowed to operate experience maximization
    for a while touchpoints changed

    2
    FOUR BONDS OF LOYALTY

    When we bring your brand out into the world, it’s really important to know who your customer is and who values your service.
    While the COVID-19 pandemic did see a massive shift in the preference of selection of services, products there is even shift in the
    loyalties due to lack of human interaction and emotional touch

    3
    2021

    There is too much friction:

    Customers are picky and selective on the Costco Membership. A


    more wider array of products & service expectation comes with the
    purchase of loyalty cards

    Most of Non-Costco Amazon Prime has its


    Members faced customer excitement over
    difficulties in payments of e-portal enjoying
    cash in store supremacy

    • Weightage on selection of Loyalty programme • Need to shift to O-M-O online-merge-offline model of wholesale
    was on number of times one had to shop and retail is essential
    save n the yearly basis • Travels & other benefits of the Costco membership is not useful
    • For an entry level customer (one –time shopper) with travel restrictions within the country
    the experience becomes difficult
    • Amazon’s benefits are more elusively observed
    via online presence first

    4
    Time to act now Platform
    Foster social & Businesses
    as new consumer preferences are emotional Bonds
    forming Not one-size-fits-all
    To make loyalty programs
    distinctive

    5
    Thank You
    If you have any
    questions please feel
    free to connect

    AMISH JHA
    tel.: +917004764558
    email: amishjha@gmail.com

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