COVID-19’s Impact on Sales, Selling and Rise of Remote Sales

The coronavirus pandemic has forced many companies to rethink their sales strategy and turn to new solutions to stay in business. Here’s what you need to know now – 

With more than 420,000 confirmed coronavirus cases to date in nearly every country, the COVID-19 pandemic has fully changed life around the world. Governments have declared national states of emergency, public buildings and businesses have been shut down, and all but the most essential service providers have been urged to stay in their homes until further notice.

As businesses and consumers alike navigate this “new normal,” the foreseeable future looks quite different for many companies, especially those in the retail industry. According to the National Retail Federation, retail is the largest private sector employer in the country and supports 1 in 4 U.S. jobs. The closure or decreased operations of retailers in the wake of coronavirus is having far-reaching financial consequences, not only for businesses but for their staff, too.

“Labor and benefit obligations, rents, loan payments are all crippling burdens if no sales are being made for days or weeks at a time,” wrote the National Retail Federation in a relief request to the federal government. “Our members are suffering cumulative losses that amount to tens of billions of dollars a week.”

Of course, retail is not alone. The travel and hospitality, events, and service industries have also taken severe hits as people around the world are forced to self-isolate. In other words, the fate of millions of working Americans currently hangs in the balance – unless these companies find a way to pivot in the quarantined world.

Shifting strategies in the time of COVID-19

Remote events and remote sales are now critical amid this crisis.

Technologies like remote sales solutions and augmented reality (AR) and virtual reality (VR) may be able to provide a life-line to sales forces who are traditionally accustomed to face-to-face selling and showcasing product via trade shows.

Take the auto industry, for instance. Traditionally, car sales have been highly-dependent on a face-to-face sales experience. However, auto dealerships have been increasingly experimenting with new concierge-like online services, including online car shopping, video calls with sales reps, at-home test drives and direct vehicle delivery, to adapt to social distancing needs.

Another segment trying new things is building & construction. STANLEY Infrastructure worked with us here at TRICK 3D to do a remote selling augmented reality (AR) tool. This tool provides end buyers with a life-like look at the products, including size and scale. Customers can even see features through production animations and embedded videos (see it in action at remotesales.trick3d.com).

While its tough predict the lasting effects of the COVID-19 outbreak on businesses and society as a whole, we can safely assume that – in the near-term –  businesses across all industries must be willing to try new approaches and adapt quickly to an increasingly remote world if they hope to thrive on the other side of coronavirus.

Our team of solvers here at TRICK 3D are here to partner with businesses to provide technology and 3D-enabled solutions to these tough problems.  We would like to know more what the pressing issues your business is facing right now and discuss ways we might be able to help use 3D and technology to solve. I’d love to connect with you – I can be found at Elizabeth Newman at LinkedIn or info@trick3d.com and remotesales.trick3d.com. Hope to talk soon. Until then, let’s stay strong and find ways to solve.

-Elizabeth