RECOVERY Don’t fix the faucet, fix the well.
Take a good hard look at your pre-virus businesses. Chances are it wasn’t perfect. How many times did you do a work around rather than actually fix the problem. What systems were broken? What did you always want to do, fix or change?
Use this time to fix it once and for all in 5 key areas.
Operations/store
From properly programming your POS to decluttering your cash wrap to improving your signage and merchandising get your store experience and efficiencies in order. (We'll discuss COVID related changes in another post.
Customers
How much do you really know and how much can you find it? Dig into the data Frequency of purchase? Average sale? What are they buying?
Create the reports that tell you as much as possible about your current customer to use in future decisions.
Vendors
This is a great time to negotiate pricing and payment with your existing vendors and also to research new vendors. You might be able to negotiate some exclusivea or find more made-in-the USA products.
Training
If you are still paying staff – use this time to train in customer service, sales, upselling and protocols for handling a “new type of customer we may be seeing in the future. If they’re not working, prepare a training program you can commit to.
Technology
Research new tech platforms that will help you run a more efficient and effective business. It’s all there for you. Check out the EASY+RETAIL+TECH podcast for ideas. http://www.angelcicerone.com/easyretailtech
The Challenge
The last step in the rebuild process is a challenge, I challenge you to grow your social media followers and /or your email database by a minimum of 10%. Make this a goal now that you’ll reopen with a bigger base of fans. Having a larger base may help you gain more traction during the recovery.
Until next time, remember,
You can do this!
Angel