01.12.2021

ENTREPRENEURSHIP: HOW TRADERS CAN HAVE A SUCCESSFUL BUSINESS IN A PANDEMIC

To have a successful business in a pandemic, retailers need to turn stores into mini-distribution centers where customers can order online and pick up purchases, or arrange for immediate delivery. This is recommended by the international company Brother, the Bulgarian office of the company reports.

The announcement states that 34 percent of traders report an increase in revenue after offering an online ordering and collection service. Alternatively, traders can place orders for goods they have in stock and then distribute them through various delivery services.

During the strict restrictions associated with Covid, buyers felt very comfortable with faster contactless payment options, which they considered safer and more hygienic. Merchants are exploring options that allow consumers to pay according to their preferred method - whether they use a card, their phone or even portable technologies such as smart watches.

Traders who show social responsibility during a pandemic will gain more customers when life returns to normal, Brother said. Nearly two-thirds of consumers say ethical practices, such as fair pay, community contribution and care for the environment, are becoming increasingly important to them as a result of the pandemic. This position is most pronounced among buyers between the ages of 18 and 34, according to the company.

Most social platforms have embraced the possibility of "social trading". Facebook, Instagram and Snapchat have already introduced e-commerce features, and TikTok is testing e-commerce features in Europe, experts say.