With the second wave of COVID-19 lockdowns hitting retail and foodservice sectors, many business owners are using the lessons learned during the first wave to navigate the ever-changing business environment.
Some businesses have pivoted to new service models or products to maintain a positive cash flow, such as online ordering and food delivery. Others are using their production facilities to produce much-needed medical gear. In either case, having an ongoing dialogue with customers, suppliers, and other stakeholders has been crucial to their recovery.
Whether or not you have the means or opportunity to offer new products or services, establishing an external communication plan to engage with customers will be vital.
These tips can help retailers and restaurant owners communicate effectively during the second wave.
How BDO can help
Our team understands the challenges that retailers and restaurant owners are facing during the COVID-19 crisis. We can offer guidance to help you navigate this uncertain time, and help you develop strategies to adapt for the future.
To learn more, contact:
Jayson Rainone, Vice President, People Advisory - GTA