Post pandemic profits set to see improvements
With many businesses all over the world getting ready to open their doors to the public once more, a much needed post pandemic profit boost is surely on its way. Such a large number of companies were forced to close up shop for good after the virus had such a negative effect on industries everywhere, so for those who are still able to claw their way through, making money to stay afloat has to be a top priority.
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The hospitality sector is one of the worst hit, as heading out to a restaurant for an expensive meal is something that many people do not currently see as an essential activity. However, in places such as the UK, the government has introduced a form of discount voucher that allows the general public to get money off when buying a meal at a restaurant, encouraging customers to spend money in these struggling establishments to aid them in getting back on their feet. This could be a key feature of the recovering economy, as a large percentage of the public have suffered financially due to the pandemic and therefore are being a lot more careful with their money. Safety has to also be a priority, especially when visiting a public space such as a restaurant, so the use of high quality PPE can be another great way to attract customers into a restaurant by providing peace of mind.
Several stores did manage to stay open throughout the battle with COVID-19, and these are the examples that other businesses must look to for inspiration. Focusing on upholding social distances guidelines through the use of one way systems, barriers and a reduced number of customers is the first place one must begin, as you must create a plan from which ultimate safety can flourish. Staff must always be adorned with PPE, not only to protect themselves and those around them, but also simply to show customers that they are committed to working in a risk free manner. The way merchant services are offered has to change, and an update on how we spend our money has to take place in order to fit properly with the current financial climate.
In the height of the pandemic, a huge percentage of commerce transferred from brick and mortar stores to online web pages. Shopping on the internet has increased dramatically in such a short period of time, with many web based businesses reporting a huge rise in sales from all across the globe. This form of ‘risk-free’ shopping is generally seen as safer and more sensible, as a customer can create and pay for their order from the comfort of their own home without putting themselves in a dangerous situation as they would venturing outside during a lockdown. Internet sales are still booming despite the ease of these rules, so this could suggest a real change in the times for shoppers everywhere. The way you buy your weekly groceries could soon change and evolve – are you ready?
