The coronavirus pandemic has completely tossed around markets and businesses as lockdown and social distancing has become the new normal. The nationwide lockdown spanning from March to May has changed the buying decision of consumers to the extent that they are spending more on survival items.
The new consumer mindset after lockdown
Consumers lay more emphasis on their hygiene, health, and essential items in comparison to activities like dining in fine outlets, watching cinema, shopping, and hanging around in social gatherings. The latter activities highly magnifies the chances of spread of the novel coronavirus via human-to-human interactions which are to be avoided.
How retailers can survive in this new normal during Unlock 1.0
Retailers, to revive their business and to recover the losses they have made during the shutdown have to understand this consumer mindset and shape their services. Retailers should start selling sanitizers, masks, gloves alongside groceries as these products have high demand and they attract high margins for earning profits.
Under the implementation of Unlock 1.0, shops and stores are allowed to open after following appropriate guidelines like 50% occupancy of workers, social distancing marks at the front of the shop, provisions of sanitizers, and others. But still, in most of the shops, shopkeepers are still using cash and coins which have a risk of contraction of coronavirus.
As per a recent journal published by two leading German universities, the time uptill which the coronavirus exists is 3 hours to 5 days on paper notes and upto 5 days on metallic coins. So it is high time that retailers install Pay1 Merchant and start adopting Pay1’s digital solutions like mPOS which is a handy device that can be used for card-on-delivery transactions when essential items are home delivered by these small retailers.
Pay1 Merchant’s Aadhaar-enabled payment service (AePS), as well as UPI-linked payments, will also be an added convenience as these are linked directly to the payer’s bank account. Pay1 is working towards increasing accessibility of these facilities to all their retailers just by a touch of their fingertips via Pay1 Merchant digital application available readily in Google Playstore.
Apart from that strict SOP guidelines like compulsory full sanitization of the entire shop including doors, windows, tables, and shelves which have high touchpoints must be implemented. Customers should also be avoided from bringing cotton bags or polythenes from their homes to reduce the risk if they are infected.
Innovative ways to combat this Covid-19 situation
Retailers can also apply innovative ways like using AI-based cameras to detect unmasked people and using temperature scanners that are digitally connected to the shopkeeper’s smartphones to store temperature readings of each customer in docs created in smartphones to avoid the hassle of writing down everything in paper.
Through these methods, retailers can instill a sense of confidence among the customers to visit their stores. Pay1 wishes retailers and shopkeepers to enable that trust once again among their customers with the help of Pay1’s digital solutions targeted especially for retailers and shopkeepers all across the country. Currently, Pay1 is successfully helping close to 300k retailers spread across 2000+ cities and in return, 20 million end customers are benefitted by Pay1.