If you find your store heading into a downturn (or if you're already in the middle of one), you'll want to rely on your existing customers more than usual.
Most ecommerce stores only have 1-in-4 customers come back and make a second purchase (~27%). Improving that, even if just a little bit, can have a dramatic improvement to your profit.
Remember, anytime an existing customer reorders there is little or no-cost for their "acquisition". They've already been acquired. That means your marketing costs go a lot further and your profit will thank you.
Setting up a New Customer Welcome campaign is one of the best ways to reliably get those customers ordering again. It can be simple or complex, but err on the side of quickest-to-launch. This probably means using email with a set schedule for a few emails. Even something as simple as a single reminder email could be enough to get started.
Get that campaign setup and start measuring how it changes customer behavior. The more repeat orders you get, the faster you can claw your way out of the downturn.
This works well outside of downturns as well.
Use cohorts to find out who the best customers are in your Shopify store
Repeat Customer Insights will automatically group your customers into cohorts based on when they first purchased. This will let you see how the date customers bought would impact their behavior.