Adapting your Business in a Covid Era
Businesses are faced with massive changes as this year has changed the way consumers are spending.
U.S. retail sales have soared since the beginning of the pandemic, however despite what economists have predicted sales have started to decline.
“November sales fell 1.1 percent more than economists had predicted as spending on categories like automobiles, electronic stores, clothing and restaurants and bars softened, according to a report from the Commerce Department on Wednesday.”
The Commerce Department released a few ways that businesses can survive during the Covid era to meet the changing needs.
Although Americans have faced job losses and quarantine, businesses are also having to face changes in order to adapt and to keep their business standing.
Going Digital
As staying home is the new norm, people are flocking online to spend.
According to the Commerce Department, “In coming years, retailers that want to survive and thrive in this new era of commerce should rethink their store’s layouts and make features like curbside pickup permanent.”
Building an online platform such as a website or using social media can make people aware of the safe options that are available to them.
With a digital platform, consumers have a wide range of products and services that they can access right from their homes.
Technology is just one way that businesses need to utilize to transform their operations. Some businesses will emerge stronger than before as technology can reduce time and resources.
Virtual Conference Calls
Businesses are becoming innovative and transforming the “in-person service” by adopting technology in their operations to reach consumers.
Ziprecruiter explains, “3D Virtual tours have replaced in-person tours at many real estate agencies, museums, and tourism companies.”
Teachers and doctors are now making use of video conferencing to reach their patients and clients as well as fitness coaches.
We’ve even seen musicians and artists develop video conference calls to perform and provide entertainment to their viewers as the entertainment industry halted at the beginning of this year.
Using the Store for Shipping
Using technology does not mean the end of physical stores.
Many stores have used their space as a warehouse to store more products to make the demands of online orders so that employees can both package orders and help walk-in customers.
“Target during its latest quarter ended Oct. 31 said over 95% of its third-quarter sales, including digital, were fulfilled by its stores, aiding its earning in topping analysts’ estimates.”
Going digital allows customers to have multiple options available to them so that there are safe options and so that businesses meet community guidelines to tackle the virus.
Curbside Pickup
Some people do need items right away or don’t want to pay for extra shipping costs and have turned to curbside pickup as an alternative.
This has become the most essential service that stores and restaurants have used to reach consumers and as a way to deal with the restrictions.
Restaurants especially have made use of this service to reach customers and to still remain open despite lockdowns of indoor and outdoor dining.
“From Nov. 1 to Dec. 9, the number of online orders fulfilled via curbside pickup was up 88% year over year, according to Adobe Analytics.”
New Products and Services
Businesses will thrive in consumers if they adapt to the trends that arose in 2020 due to the pandemic.
By noticing the latest trends, businesses may offer products and services to increase productivity and customer satisfaction.
According to Ziprecruiter, “At the start of the pandemic, major automobile, aerospace, and plasticware manufacturers converted their production lines for ventilators, face shields, and plexiglass screens.”
Some businesses have developed these strategies into their operations have thrived, while others have turned to wait till things turn better.
While the pandemic has slowed most things, they have also encouraged the growth by adopting technology.