Business Continuity Tips for Retailers

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Business Continuity Tips for Retailers  

COVID-19 has brought much uncertainty to both large and small businesses across the United States. Many retailers and restaurants have been forced to temporarily close as a result of lockdown mandates to help combat the spread of the virus. And many more will end up shutting their doors permanently because economic ramifications were too great to overcome during this pandemic.

For the merchants who are still up and running, business continuity is key to survival. While organizations cannot predict or fully prepare for an unforeseen event like this, there are tips that you can implement to help minimize the impact to your business now:

1. Tell customers that your business is open. Post on social media and send emails to inform customers that you are open and ready to serve them. Promote your business in every way possible. Constant communication is key, and it helps your business stay top of mind.

2. Sell, sell, sell. Shift your business model to curbside pickups and/or delivery and take orders on your website or over the phone. Do whatever it takes to meet the needs of your customers because many are still willing to buy right now – whether it be in person or not.

3. Focus on the future. Use this time to train employees remotely, clean your stores, work on any updates you have been putting off, and organize your inventory and back office areas.

4. Be smart and sensitive. Notify employees and customers of your COVID-19 practices and how you are keeping everyone safe. If you have a brick-and-mortar store that is open, limit the number of people who can come into your store at one time, practice social distancing, always remind people to stay at least six feet apart, wear masks, and make sure employees are continually washing their hands. Ultimately, make sure that all employees are providing good customer service with the proper precautions in place.

5. Plan for touchless purchases. Retail business will never be the same even after the virus has run its course and is no longer a threat, which could be a year from now. So, businesses must come up with longer term continuity plans that include touchless payments and eCommerce capabilities so customers can comfortably and easily make contactless purchases.

Now Is the Time to Prepare

If you are a retailer or restaurant, make sure you are equipped for online ordering, mobile orders, or some type of contactless payment. And begin to educate yourself, your employees, and your customers on the benefits of touchless payments. Be prepared to receive payments in multiple ways to capitalize on every situation and ensure that you are not turning any customer away.

Work with a payment processor who can help customize solutions for your business and provide every form of processing that you need. Giving your customers options is crucial so they have control of how they shop and make payments. Safety and cleanliness are going to be the deciding factors for customers moving forward, and we want all businesses to not only survive – but thrive – during these unprecedented times.

Learn About i3 Merchant Solutions’ Processing Solutions:

Contact us online or call 1-800-621-8931.

Check out i3 Merchant Solutions’ newsroom.

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