Study Into The Impact of COVID-19 On Businesses To Be Released Shortly

April 14 14:06 2021

The long awaited study into the impacts of COVID-19 will be released shortly. 

COVID-19 has changed the way in which consumers make purchases. All over the world consumers are less likely to visit a physical store. Instead of purchasing items locally they decide to shop online.

This shift in consumer spending habits has changed the way businesses carry out their day to day activities, bringing many new challenges.

A recent report found that nearly 50% of US internet users were avoiding shopping centres and malls. Whilst over 30% completely avoided going to physical stores.

Due to the shift in consumer behaviour, many shopping centres and stores are closing down. Even stores that sell essential products are struggling.

This has led to many organizations releasing reports into the impacts of COVID-19 on retail stores, such as KPMG, Mondaq, SF Gate, LA Weekly and Deloitte.

To assist organizations in overcoming these challenges presented by COVID-19, JB Contractors are commissioning a new study into some of the solutions that businesses can implement in an attempt for business to return to pre pandemic levels.

Here are some of the key preliminary findings:

For the restaurant industry we recommend that consumers order more take out & delivery directly from restaurants. Now that people have more time at home, they have more time to cook. However we encourage people to consider the situation of their favorite restaurants, and thus they should order directly from them, bypassing third party apps.

Another recommendation is for businesses to increase their visibility online. One way that they can do this is making sure they’ve updated their Google My Business listings. These are vital in attracting new customers.

A third recommendation is unique. This involves offering free office hours. Businesses should help other businesses through free consultations – just like we are doing.

The next recommendation may prove to be tough, however we encourage small businesses to offer free access to some of their services for specific groups. This will increase your brand awareness, and it will help the local community.

Another recommendation might also be tough to handle. This is extending payment terms. If your business is in a position to help customers through payment plans, then you should consider this. People are suffering, and so are small businesses. We’re all in this together and we should help each other survive.

The final recommendation is for people to shop local. Though we still see images of empty grocery stores in the media it’s a reality that many small local businesses are suffering. They are losing customers to big online retailers. The only way that these businesses can survive is through the support of the local community.

The full report, to be released imminantely will contain a much deeper analysis of the efforts that can take place for normality to resume.

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Company Name: JB Contractors
Contact Person: Rajesh Shukla
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Phone: 91 129 322 6669
Country: United States