user-generated content, such as video testimonies. Often retailers rely on social media influencers who use their platform to review and share products with their followers. The impact of social media influencers cannot be overlooked. In fact, according to the Digital Marketing Institute, 49% of consumers say they rely on social media influencer recommendations when making purchases.
COVID-19 There’s no denying the pandemic altered things for retail businesses, but retailers were already struggling when the pandemic hit because of the “Great Retail Apocalypse.” According to Business Insider, more than 9,000 retailers, such as Dressbarn and Chico’s, shut down or closed stores in 2019. In Lawrence, The Gap permanently closed its doors the same year. If brick-and-mortar businesses weren’t already struggling, the necessity of social distancing fundamentally changed the way people shop, making businesses adapt quickly or fold. Delivery and curbside pickup options are now considered the safest way to purchase items, including groceries. COVID not only changed retail logistics, it also changed customers in ways that will continue to significantly impact businesses. With Amazon’s influence, customers have come to expect same-day and/or fast shipping. Shoppers are also much more empowered than they were a decade ago. Now, shoppers rely on reviews, ratings and influencers to make informed purchasing choices, and they are less likely to tolerate errors in orders. Because the market is flooded with options, shoppers have ample access to new alternatives if they are unhappy with a particular
product or service. Interestingly, because of limited mobility, shoppers have also begun to rely on local businesses. During the last decade, online retail trends and consumer expectations have required that retailers adjust and adapt quickly.
Weaver’s Department Store Established in 1857 and located at 901 Massachusetts St., Weaver’s has survived the Great Depression, World War II, the rise of chain stores, the Great Retail Apocalypse and now the COVID-19 pandemic. Its ability to survive and thrive all these years is due in part to anticipating market changes and adapting quickly. Weaver’s President Brady Flannery notes: “Retail is always in transition and flux. Retailers who accept this reality are better able to survive these shifts.” For example, rather than seeing the move to online and mobile shopping as a barrier to business, Weaver says they recognize these changes are opportunities to better interact and communicate with their customers. “It’s part of relationship-building,” he adds. Seeing shifts in retail trends as opportunities rather than barriers and adapting, when necessary, has certainly contributed to the department store’s success. As the only nonchain department store left in Lawrence and one of very few department stores left in the state, 17
