Retailers with strong online businesses are able to trade through some of the Coronavirus related challenges.
Businesses experiencing lower than usual foot traffic in-store can rely on online sales to keep the wheels of the business turning. This is where our POS software integrated Shopify and Magento website solutions have helped retailers be proactive in this space.
As people stay at home more and have less human to human contact, especially in shopping malls, retail; businesses with well-established and strong online presences are able to trade through, connecting with these home-based shoppers and arranging for purchases to be safely delivered.
Online has a much larger shopper catchment area than local high street retail. It can be a whole country, or beyond whereas a high street situation will pull from 30 fo 60 minuets away depending on the local situation.
As the challenges of then Coronavirus play out for small business retail, Tower Systems is pleased to have helped plenty of indie small business retailers take their businesses online for efficient and broader reaching shopper opportunities.
Whole one does not wish to trade off the misery of others, we are grateful to have helped retailers be prepared for a situation like this where people want / need to shop but do not wish to do so face too face.
The Coronavirus COVID19 has certainly presented complex challenges to retailers and other businesses. In our own situation we have been structured and certain in our approaches, to ensure the best customer service possible and to help the 3,000+ small businesses retailers we gratefully serve as customers using our POS software.
Early on in the Coronavirus challenge, many weeks ago, we offered advice. This was operationally practical as well as opportunistic. It included:
Health and business experts we respect are forecasting that the economic impact of COVID-19 will be similar to the global financial crisis of 2008. We think this is a reason to be prepared now, to be prepared for the worst. Here are five things we recommend you do:
- Hoard cash. Save money where you can. This means a trim roster, buying more carefully.
- Shop local. It is important not just say this, do it, live it.
- Stand for something. Retail businesses that are weakest are those that do not differentiate, that are not that appealing that people will drive a distance to shop with them.
- Be happy. A happy business attracts shoppers. Be that shop.
- Be opportunistic. In any challenging situation there are opportunities. Watch out for them.