The retail landscape has undergone
significant changes in recent years. During COVID-19, retailers – especially
those with a strong social media presence – found themselves in a retail
“fantasyland.” Sales soared, customers flocked to online stores, and live
streams were packed with eager buyers. Communities came together to support
local retailers; we hadn’t seen anything to that level before.
However, as life gradually returned to
normal, the heightened demand started to wane. People resumed their daily
routines, and the once highly engaged and well attended live streams began to
thin out. Rising costs and inflation have also led to a more cautious consumer.
Many retailers are experiencing the effects of this shift, with sales either
returning to pre-COVID levels or only showing modest growth compared to the
booming pandemic era.
For many retailers, this adjustment has
been challenging. Attracting customers to live streams, driving in-store
traffic, and sustaining momentum can feel like an uphill battle. But there are
ways to leverage these tools, adapt older strategies and renew the focus on
what matters most.
Addressing the Live Stream Slump
A frequent concern I hear from
retailers is that fewer people are watching their live streams and getting new
viewers to tune in is a struggle. During the pandemic, live streams were a
lifeline, but for some, they’ve gone a little flat. If you’re facing low
attendance on your live streams, there are ways to breathe new life into your
broadcasts:
- Promote Across Channels: Don’t rely on a single post. Announce your
live streams on all your platforms – your website, social media, email
newsletters, and even in-store. Build excitement and urgency around each
event.
- Mix
Up the Format: Experiment with your content. Instead of
just selling, try adding interviews, behind-the-scenes glimpses, or
customer stories. Special guests, product demos, or Q&A sessions can
make your streams more engaging and help retain viewers.
- Leverage
Replays: Not everyone can attend live, but many will
watch later if given the chance. Save and repost your streams,
highlighting key moments to attract more views. You might also consider
using ads to boost replay visibility or using an AI tool like descript.com
to cut your lives into bite-sized short-form video content for Reels and
TikToks.
- Offer
Incentives: Reward your audience for tuning in. Offer
exclusive discounts, early product access, or a giveaway during the stream
to make viewers more excited to attend and participate.
Rebuilding Relationships and Driving Sales
With economic pressures rising,
consumers are spending cautiously. If your sales haven’t yet bounced back to
pre-COVID levels, it’s time to rethink your approach.
1.
Focus on Customer Relationships
The competition has never been higher. Shoppers are out there but
are increasingly selective about where they buy. Deepening relationships can
make all the difference:
o
Personalized Experiences: Tailored recommendations make customers feel valued, whether
shopping online or in-store.
o
Customer Appreciation Events: Host small events to thank loyal customers and build a community
that keeps people coming back.
o
Consistent Communication: Stay connected through email, social media, or even text, but
make sure every touchpoint adds value—whether through special offers, helpful
tips, or exclusive content.
2.
Lean into Social Proof
During COVID, retailers thrived on community support. Rekindle
this by highlighting customer reviews, user-generated content, and testimonials
to show that your store remains a trusted choice.
3.
Innovate with Events and Experiences
In-store experiences can create lasting connections. From
workshops to themed shopping nights, these events not only drive foot traffic
but also fulfill the craving for real-life interactions that differentiate your
business from the competition.
The Power of Retail Therapy
On my podcast, Rooted in Retail,
we recently launched a segment called “Retail Therapy” to address the
unique challenges retailers face today. In episode 127 titled, “3 Ways to Reframe Your Focus
from Busy to Profitable” we invited a
business and life coach to help retailers who are feeling burnt out and
frustrated. Beyond the sales numbers, many retailers are grappling with the
emotional toll of running a business post-COVID.
One invaluable piece of advice from
these discussions is to step back and reassess. Ask yourself: What drives your
business? What does your brand stand for? Reconnecting with your core values
and your original mission can help reignite the passion that may have dimmed in
recent years.
While the retail world may look
different, there is still plenty of opportunity to grow and succeed. It
requires adaptability, innovation, and a renewed focus on relationships.
Sometimes, a little Retail Therapy can remind you that you’re not alone in this
journey. Stay rooted, stay resilient, and remember to lean into the support
around you.
Crystal Vilkaitis, known as The Wolf of Main Street, is the
visionary founder of Rooted in Retail, a brand dedicated to driving the future
of independent retail through resilience and innovation. As a thought leader,
Crystal also founded Crystal Media, a pioneering company that empowered
retailers to harness the power of social media. Today, through Rooted in
Retail, her acclaimed podcast, and the annual EVOLVE conference, Crystal leads
a new era of retail, equipping businesses with the tools and insights they need
to succeed in a dynamic market. You can learn more HERE and be sure to check out the
Rooted in Retail Podcast on all major platforms.
