Independent Retailers and the COVID-19 Crisis

rss

Since March 2, 2020, The ROI's Co-Founders have been offering insights, strategic approaches, and online resources for independent retailers affected by the COVID-19 crisis.

These appeared first in The ROI NEWS.

COVID-19 thumbs/LaborDayImpacts2.png
Come Labor Day, How Might Things Look?

We believe there are not one, but three(!) pandemics occurring simultaneously right now. Of course, the COVID-19 virus elevated the word "pandemic" to a status that identifies even a generation of babies. 

But the other two pandemics are equally paralyzing: the nationwide (even worldwide) protests of racial injustice, and the severe unemployment from the economic collapse. 

Indeed, three concurrent, worldwide sinkholes. We call it the "pandemic trifecta of 2020."


So, what's an intelligent retailer to think now?!

Here's one idea that we believe can help you have more confidence in your immediate decisions. Think beyond this week and this month. 

  • Think ahead about three months from now, to Labor Day. 
  • Given the dynamics of your community, what's your best guess about the impact of each of these pandemics by then?
  • What could that mean for your store(s)? And for you? 


​Just put a check mark in the appropriate box. Make a copy for yourself, and date it. It's just a way to try to capture your assumptions.

Granted, you are guessing. But we all are!

However, the decisions you must make now about when, how and why to re-open your store(s) will benefit by how you imagine the circumstances 90 days from now.

It's best that you not waste the lead time. 

As always, your judgment – your informed judgment – is your greatest asset. 



Comments are closed.

Since 1999, empowering retailers and store owners to "Turn on your financial headlights!"