Our current Covid-19 world of uncertainty is riddled with challenging questions.
What is the new normal and what is it going to look like in the long term? How will my business survive, let alone thrive? How long will this stimulus-driven sales boost last? The questions during this pandemic are seemingly endless.
If you are not new to the game, you know that what goes up invariably comes back down. Just look at the recent roller coaster trajectory of the Dow Jones for a simple illustration of the point. Your employees have ridden this roller coaster with you through the political machinations of stimulus checks and/or the Paycheck Protection Program, while trying to reestablish daily routines.
Having worked virtually, and even onsite, where possible, with several retailers over the last few months of lockdowns and re-openings, a few key observations have been emerging for the Profitability Consulting Group (PCG).
- Safety protocols are important but not hard in general to manage.
- Online and in-store business fundamentals are more important now than ever.
- We are all in the same storm, but not necessarily in the same boat.
Most retailers have formulated a Plan A at this point. At the moment, Plan A for most retailers appears to be a cautious, month to month, “let’s see how it goes” routine. Luckily a pent up Covid boost, with more online and appointment driven sales, has played out well so far for most retailers. Closing rates are remarkably high and many are enjoying record monthly sales. Yet somehow you know in your gut this won’t last.
Do you have a plan B for “beyond the boost”? We do!
Over the next several weeks, we’ll be helping you navigate this new path with some ideas and suggestions on how to move beyond the initial Covid-19 sales boost so your business not only survives but thrives. Stay tuned for Plan B!
Can’t wait? Contact us for more information on how we can help your business. Call us at 404-432-2137 or email us.
