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Covid-19, a global pandemic is taking a toll on the lives of human beings. It has also affected small business owners as a result, some of them have taken a backseat while others are forced to take radical decisions to continue operating. They all know it well that the current situation could risk the future of their business. Many have witnessed the economic impact of Covid-19 as they have already seen a reduction in customer demand and the rest of them are not confident about the financial future of their business.

Consumer behaviour has changed a lot across the world over the course of this pandemic and lockdown situation. Several small manufacturing units, retailers, and shop owners had to shut down their businesses due to lockdown which has led to a near halt. They have lost money, customers, and investments in this crisis.

Studies have shown that more than 74% of the individuals believe that Coronavirus has changed the way they used to live their lives and it will continue to impact their lifestyle over the next 5 years.

But this pandemic has changed the “preferences” of the consumers which could be better defined as behavioural changes in shopping. Now, people will not prefer venturing into the streets or shopping malls with the same carefree and reckless gusto as before. They prefer online channels to shop and home deliveries to avoid risking their health. There has been a surge in the use of online channels and the trend will definitely escalate once the lockdown is completely lifted.

How Small Businesses Should Make A New Start In The Critical Phase Of Pandemic?

After wide-sweeping shutdowns, governments in many countries look to start relaxing strict measures. It’s time again for small businesses to think wisely and find out how they will adapt and move forward safely and sustainably.

As per the survey, only 8 % of business owners had paused / stopped their business activities.

Lockdown has made people familiar and used to one thing, i.e. the internet. Our country’s total internet consumption has increased by 13% after the lockdown was implied. Though consumer purchase intent has remained the same, but their shopping methods have changed a lot. They now prefer shopping online. If they have to visit brick-and-mortar shops, then 71% believe in maintaining social distancing at the physical shops. They now prefer only those service providers that give an option of shop online or maintain proper hygiene or home delivery system at their shops. Lastly, online shopping has become a topmost priority.

12.5% of individuals are using their free time in performing thorough research on products in order to make purchase decisions.

If the businesses have to survive and thrive, then they have to be flexible and adaptable to consumers’ new and evolving needs. You need a proper plan or you can take the help of the marketing experts to carefully insight what may need to change about your business.

You need to explore the new growth opportunities that may exist for you in a post-pandemic world.

Considering the fact that the Internet is on the boom, businesses should consider every opportunity that could benefit them. No need to feel downhearted as a true businessman finds its way no matter how hard the situation is. It’s never too early or too late. It’s the time and you have to do your best to bring your business on track without ignoring safety measures.

How You Can Get The Things Going For Your Business?

Get in touch with your customers and communicate them how you have changed your shopping policies considering the current situation into the account. Inform them how you have made it easy for the consumers to shop from their premises. Also, tell them the protective measures that you are following to make sure your brand store, shop, or business site absolutely safe for their visit. This is applicable to the manufacturing units as well to convince their clients. They have to bring confidence to their clients that we are ready to handle this pandemic as well as new orders in a responsible manner.