Let us watch how Retail Therapy works out in New Normal paradigm shift post Covid

Prior to the COVID pandemic, Omnichannel retailing was the new trend – an integrated approach which provided shoppers with a unified experience across all channels or touchpoints. It means there was a shift from focusing on just organized retail – or Malls – as the major attraction for a shopper. The ‘new normal’ in a post-COVID world has witnessed paradigm changes, and retail spaces are among the segments where a ‘redefining’ will most likely take place.

Omnichannel is evolving to suit the needs of ‘new normal’ post covid world meeting the social distancing norms. So, window shopping in person reduces while virtual displays on digital platforms see increased numbers are among the changes we are witnessing. Actual sales can happen at ‘touchpoints’, but payment mode will be digital with ‘direct to home’ delivery. The attraction of shining lights and the razzle-dazzle will continue for some time, but I expect this festive season to be the touchstone – let us wait and watch how successful retail therapy augurs in the new paradigm. The importance of the retail format, especially Malls, as a magnet to attract customers will undergo a change. Technology will enhance the virtual experience, as the segment evolves into a changed experience for the shopper, one where physical presence at touchpoints will be possible – but will the buyer opt for this, over virtual and digital channels, that remains the million-dollar question