Pivot
That is the name of the game. This allows Merchant Fulfillment or dropshipping (if available) to be that much more of an incentive.
Know that this is all new territory for all of us. I sell both online and in my B&M's and have seen over a 50% drop in sales in both areas. But currently we are still open.
No one knows exactly when and how this is going to end.
My recommendations are to:
- Protect your health foremost
- Hold on to your cash as much as possible
- And begin to ask yourself what is most important.
Because EVERYTHING could very well change, and quickly.
I don't think I will have my stores open that much longer. We will continue to ship our online orders
with a skeleton crew if at all possible.
I am primarily concerned about my employees and want to make sure they are taken care of financially at least into mid April.
Part of our business is regarded as 'essential' but it may not mean we will be able to keep everyone working even at reduced hours.
Deliveries and supplies may end up being sporadic. That is something to consider.
I also am trying to think of all the what-ifs, even if they sound crazy now, they may not sound crazy in the near future. Ideas like, will I need to board up my windows of my store to discourage looting or will I need to pick up my shipments rather than wait for delivery, etc.
Just some random thoughts.