Online stores could compliment physical retail stores and handle ecommerce activities post-COVID-19

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 10, 2020, 9:04 AM UTC

Create a separate distribution centre for online sales processing.

This article suggests how small businesses can approach store reopenings with easing COVID-19 restrictions. Firstly, streamline everything within your control and evaluate the stability and health of the cash situation at reopening. Businesses with inadequate cash reserves could consider “fewer daring adjustments”.

Retailers must use cloud-based software to build an online store to handle ecommerce activities like shipping and returns. Investing in new advertising avenues is recommended for brands using the same advertising channels for years. Leverage social media and optimise the brand’s website for better reach.

To manage and analyse business performance, prioritise and analyse the P&L statement created based on line items. Retail stores with multiple locations must inspect the operating performance of each store and re-negotiate leases, find sub-tenants, consolidate inventory, and sell unneeded fixtures.

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