The last 12 months has been a rollercoaster ride. No one was more affected during the pandemic than independent retailers.We find ourselves in an unfamiliar landscape that has changed drastically since the outbreak of COVID-19, demanding we put on our innovative hats and become more resilient.
Those who refuse to move with the times by adapting to new trends may find themselves short-changed in the year ahead. So, to help you move and shake through the year, we’ve compiled a small business trends list for 2021. Through this, we hope to ensure that your business is prepared as possible to navigate the unknown.
LET’S DIVE RIGHT IN!
GET WITH BUSINESS TRENDS IN 2021
CASH FLOW FORECASTING
No matter what the future holds, taking stock of your current cash flow situation will help you weather the inevitable ups and downs that 2021 may have in store. For example, you could query the impact of an increase or decrease in orders then manage your resources proactively by negotiating with your suppliers regarding terms.
- GO CASHLESS
With hygiene playing a more significant role in the public’s consciousness, expect your customers to look for alternative ways to pay in 2021. This trend was always on the table as debit and credit card usage has steadily increased in recent years. However, the pandemic has rapidly accelerated card adoptions as consumers are opting for safer transactions. Remember, card is king!
"ADD TO CART" KIND OF YEAR
In 2020 many businesses who may have been on the fence whether or not to start selling their goods online had their decision made for them. As lockdwn progressively continued , more businesses needed to find innovative ways to connect with their customers and get their products out into the market outside of their traditional brick and mortar stores.
If you do not have an E-commerce store as of yet, now is the time to make it happen before being faced with any more surprises.
- THINK OUT OF THE BOX
Now more than ever, businesses are needing to be savvy in their thinking and smart in their approach. While more people opt to stay safe by staying home and doing their shopping online, businesses have had to think out of the box for innovative ways to survive. Recently, a local car wash company started washing cars in the comfort of home. Beauty bars have also turned to the mobile route to ensure returning clients.
THE FUTURE IS GREEN
We’ve seen an increase in consumers demanding brands commit more to sustainability in recent years, and 2021 seems to hold another surge for greener practices and more environmental responsibility. Sustainability doesn’t only refer to being environmentally responsible. It also applies to a variety of workplace processes and policies. These include fair working conditions for all employees, a diverse workforce, environmentally friendly production and more organic ingredients.
SHOW YOUR EMPLOYEES A LITTLE LOVE THIS VALENTINES DAY
Your employees have worked hard to help you sustain business in these trying times. What better way to celebrate them than through a little recognition? Trust us – it goes a long way.
Ditch the employee of the month plaque that hangs on the wall and opt for public praise instead. You can do this by posting their achievements/passion/hobbies on your company’s Facebook, Twitter or Instagram page. (Obviously, with their consent). Happy Valentine’s Day all.
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