Prepare your business early by being in the know
Even conservative estimates posit that the Philippines will not reach its targets for the nationwide vaccination of COVID-19 until at least late 2021, or even early 2022. Thus, entrepreneurs should still watch out for these business trends that were prevalent in 2020.
1. Reliance on delivery
The delivery sector accelerated last year because movement was limited and shopping and dining establishments were closed. That will not change in 2021. Many customers, even those who were initially technologically-averse, are now comfortable with delivery services, so they will continue using them despite the gradual reopening of businesses.
In 2021, all retail businesses should have a delivery option. There will also be businesses that will shut down their retail locations due to the lack of foot traffic, and change to delivery only.
2. Social distancing is still a thing
In 2020, retail businesses were allowed to open after several months of closure, on the condition that they limit the patrons that can enter their stores so that social distancing protocols can be followed.
This will still be the reality in 2021. Retail businesses will still face lesser profit due to the reduced foot traffic, so they have to decide if prices need to be increased.
3. Focus on cleanliness
One thing that will definitely stay in stores in the post-pandemic world is the increased focus on cleanliness. Alcohol and hand sanitizers will still be available on boutique counters, and handwashing stations will be more prevalent in restaurants.
4. Investing in technology
COVID-19 has exposed the need for businesses to invest in software that is beneficial to their operations. Even small stores, which were previously reliant on pen and paper, now need basic inventory and sales monitoring apps that can help them go through changes in the business landscape, like the shift to delivery.
One such online app is Imonggo, a web-based point-of-sale, e-commerce platform, and inventory monitoring platform. Another example is Talaga, a sales and inventory tracking app for kiosks.
We should be optimistic that 2021 will be better for businesses. We can ensure that by watching out for trends and adapting to them early.
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