Two months in and we can say for sure that COVID-19 has fundamentally changed how we do business. Of course, we are not alone in this. What we do own is our response.
We have learnt plenty over the last two weeks, about new opportunities, new needs, fundamental changes in retail and what we are capable of.
What has been most interesting is how flexible small business retailers have quickly become as they have adapted to the new business environment. Things that have have taken ages to consider in the past are considered and embraced in short time. We are loving the challenge of engaging with this, with our customers.
Time has changed. We think this is good because we are seeing small business retailers move fast and forward, seeking new customers through new products and new ways of doing business.
Some business owners are pushing harder online, which is a natural move. Others are doing this but through a product mix that genuinely reaches new shoppers for the business and thereby expands the opportunity and value base of the business.
Some business owners are de-cluttering their businesses, fine-tuning and bringing tighter focus to their business, leveraging business data to make decisions about product range, product location and supplier selection. These data driven moves are a thrill to see and be part of.
COVID-19 provided encouragement to embrace change and an opportunity of cover to make the changes – and this is the real opportunity of right now. It truly is a thrill to be part of businesses that are doing this.
In our POS software co. own case, we are doing more online than ever before as new customers are happy to be trained using video and phone hook-ups. Sales, too, are won online as we meet prospective customers over video calls. We have found some new opportunities, too.
In our retail businesses we are embracing the opportunities of the changed circumstances to grow online sales and recast the focus of the retail businesses. It is truly fascinating discovering decisions that are easy today that may have felt more complex a few months ago.
Who knows how long this COVID-19 world will exist. It could truly be the new normal. Regardless of what happens with COVID, we expect many of the changes and opportunities embraced in these months will stick, which would be good.