- Performing physical inventory counts
- Deep dive in to what inventory is selling and not selling
- Posting one product a day on Facebook and offering free delivery (one retailer is even posting display items in an effort to sell existing product)
- Deep cleaning the store
- Looking at RMS replacement programs
- Applying for PPP, disaster loans, etc as part of the CARES act
- Replacing old computer hardware
- Looking at adding e-commerce and BOPIS (some just want this short term and others are planning to add this long term)
- Offering gift card promotions (eg: buy $50 in gift cards and receive an additional $5 gift card)
- Changing product mix (focus on health and safety products)
- Creative promotions (free role of TP with every gift card purchase)
- Bringing in the next generation of store owners for some retail operations training (for when the owners retire and hand over the keys to their children)
- Rearranging the store to accommodate social distancing (including taping 6 foot marks at checkout)
- Purchasing face coverings and gloves for all employees (some states, like Colorado, are mandating this for all essential workers)
- Deciding to move the business online permanently and close the physical location
- Putting a simple product inquiry form on their website and offering delivery/shipping
Do you have a tip to share? Please contact me at 208-340-5632 or kevinantosh@gmail.com
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