We have been interviewed several times this year about the state of local retail, small business retail, in this corona challenged world.
While corona is challenging, and heartbreaking, too, for plenty, in local small business retail world, it is an opportunity to demonstrate the value of shopping local, sourcing local and serving local.
People want to shop local more than ever. They want to know that where possible products are sourced locally too.
There is no doubt that we are in a period of significant change. We have the disruption of online, disruption of completely new business models, banking challenges pushing cashless, about costs that force a rethink on shop floor engagement, overcrowding in terms of retail space per capita and more. Change surrounds us. Corona is driving an increase in the pace of change and this is interesting to see.
Small business retailers who are nimble stand to gain the most.
In this change, when you bundle it all together, is opportunity to explore the business considerably outside its usual four walls and it is in this consideration that I find a key opportunity for optimism.
Change is good. Change drives innovation. innovation is key to better business results.
While there will be collateral damage through the change, those that remain confront wonderful opportunity.
The optimism for the future of local small business retail stems from seeing many businesses pivot as a result of corona, move online, offer delivery, offer click and collect, expand product mix and more. many businesses are enhancing their service in response to the needs they see locally and even far away as they reach through online.
Small business retailers can respond to needs faster than big business. Being nimble in 2020 and beyond is more important even than having deep pockets full of cash.
Innovation matters. They is where POS software can serve in that it provides a data pathway as well as low cost execution opportunities for businesses that do with to pivot or innovate or both and more.
Change is bringing these opportunities and change is key to encouraging optimism and local small business retail.
It is terrific seeing so much good news in the marketplace right now, in the middle of corona. Good news from small business retailers being smart and engaged in embracing change and the opportunities to be found from change.