Even if you need to close due to health and safety concerns, there are approaches to continue serving your clients during the coronavirus lockdown.
These are the big areas of risk for you as an online retailer are:
1. Contact your manufacturers
Communication is very important in times of crisis. So, contact your most important suppliers immediately and get the best information about their location and plans. We suggest that you look at a personal conversation if possible. Contact the right person at the supplier, and take the trouble to reach mutual impact.
2. Look for an alternative provider
Although China is attractive as a manufacturer, because it is produced in cheap here, like many other countries, you can consider the supply. Perhaps a provider India is probably expensive, but has some other benefits: The distribution routes are small and not connected to the other end of the world and above all, India is still not very much affected by the COVID virus in China. So find new distribution channels in good time, even if it is a marginal hit.
3. Sale of ration
While this may seem contradictory, as the situation progresses, you will soon be working with a vendor market. This means that there is a greater demand than can be covered by the range of goods. You can cut your advertising measures and increase their prices or discounts. It is better to sell fewer items at a higher price than to lose customers because you cannot ship their orders.
4. Direct communication with your customers
Honesty is a precious commodity, especially if there are difficulties. This makes sense that delivery problems may arise in your store in the future, so please inform your customers best. The best way to do this is for you to use all the channels available, or on your website, email, and your social media presence. If there is a delivery problem with your order, We encourage you to be generous: Apologies for customer difficulties. You may be offered compensation or vouchers, which may have to wait weeks for the goods. This provides the perfect opportunity to buy again in the future.
5. Order goods in stock
Unfortunately, this tip does not apply to Dropshippers. This is more important for all dealers than their own warehouse: order enough new things now. After all, you don’t know the corona crisis knocking on the door of your suppliers or not. Therefore, it makes sense to be prepared for any disruption and the warehouse has a good owner stock. Use the market as an alternative channel for residual goods. Smart traders must be prepared for the storm before it starts.
6. Focused on its core business
It gets harder when we go and your provider stops production and starts taking advantage where it matters most. However, the items that make you the most money. if you are in doubt, then think about your best-selling products – because the crisis is always known as the opportunity where you can go.
The risk is real but manageable.
Dr. Venliang had already warned of the threat of the new virus, which COVID virus has blossomed into a real global crisis. At a time of global markets and business management systems spread across the continent, offline trade has also clearly been the result of another epidemic on the other side of the planet.
However, given the scale of the threat to the economy as a whole, it is important to focus on what has distinguished good traders for generations: ingenuity, flexibility and negotiation skills.