Help Your Retailers Prepare to Survive and Thrive in the Post-Coronavirus Economy
At Lynkem, we partner with brands to help them empower their retailers, and grow these businesses from the local level. Without a doubt, the next few weeks and months will be challenging for our communities, especially for local retailers. So how can brands provide support to their dealers at the local level during a pandemic? And how can we prepare for when we get to the other side of COVID-19?
Adapt Order Management for the Short-Term
Many of our brands are reporting that their struggling retailers are requesting delays on new shipments, and even asking to return stock they’ve recently received. It is up to your company on how you want to handle such requests.
Some of our brands are making sure to call their retailers before shipping product orders placed prior to the pandemic. Others are delaying payment processing on orders or cancelling orders all together. It’s a tough decision to make, and may need to be made on a case-by-case basis. But on behalf of your retailers, we ask that you be mindful that there are people involved in these decisions, not just numbers.
Help Retailers Get Digital
Amazon is about to win big in the post-Coronavirus economy, already having scored 47% of online retail sales last year, according to eMarketer. And while the results of this pandemic are yet to be seen, Amazon plans to hire another 100,000 part- and full-time employees, hinting to the increase in sales across many of their retail categories that they are enjoying.
With brick-and-mortar stores still accounting for about 90% of retail sales up until the spread of COVID-19, Amazon’s number one competitor would be offline stores. However, if retailers aren’t able to stay open to the public, especially if they don’t have an Ecommerce platform from which to continue sales, they will likely fail.
Keeping in mind that a large percentage of sales are coming from local retailers, the brands that wish to make an impact on the number of local dealers that survive will empower retailers to take advantage of Ecommerce and digital marketing. The brands that do a good job of marketing themselves on social media typically drive sales from their own online Ecommerce platform. Now is the time to consider using platforms like Locally to help promote the idea of driving traffic to your retailers.
Even our brand-retailer social media marketing software, which is built for brands to empower their retailers with pre-made social ads and co-op management software, can be a great resource. Regardless of the technology you use, sharing with your retailers the knowledge of and resources for digital marketing is a great start to helping your retailers survive.
We’re Getting Retailers Online
We’re offering FREE setup of ecommerce solutions like online stores and Amazon Seller accounts for retailers who have had to close the doors on their brick-and-mortar locations. Consider sharing this with your retailers, so that we can help them survive this pandemic, and prepare to thrive when it has passed.
Look to the Future
What do we want this economy to look like once this is all over? If you want your local retail partners to be thriving in the post-coronavirus economy, then the preparation needs to start now. Our company is committed to enhancing the collaboration between brands and their retailers. If you are interested in discussing ways that we can accomplish this together, please don’t hesitate to reach out. We’re all in this together, and together, our businesses can survive and thrive.