Let us face it Corona Virus is here to stay for the next couple of years or so. I know this is quite sad to process, but it is the hard truth. The pandemic has left the economy upside-down. However, what is left for us is to strategies on how we can work with what we have.
In contradiction, however, not all niches are affected; some be prospering even better. The stock market, for example, was considerably doing well. Although economists do not just look at Wall Street, there are many other streets to look after. Restaurants and the transport and logistics sectors seem to be among the most affected industries of all time.
It is now our responsibility to outlook the unexpected measures it has set and strive to proper. Leaders should be on the front in leading their citizens to correlate well with the new normalcy. With this in mind, it is thus reasonable to consider some of the aspects that have to reconstruct.
Small Retail Change
It is quite unfortunate that this is the most affected industry with most people. In today’s world order, most individuals are entrepreneurs or lack of a better word ‘Hustlers.’ With the full public health measures and safety, statistics tell that some of the retail businesses may never reopen.
Therefore, it is necessary to adopt a technical system for these small-scale retailers to bring back the economy. The International Trade Centre indicates (ITC) shows some of the strategies that should play along these tough economic times. One is focusing on value and not profit. Focusing on value gives one the privilege of acquiring enough trust to its customers that though things are worse, we are still able to deliver quality. This brings more customer appreciation and retaining more and more customers.
This industry is adapting quite well in response to COVID -19. However, for the economy to be in shape, it needs to pull up its socks more. Most restaurants around the world are reopening but with tight restrictions.
Kenya, for example, executes a mandatory rule that all hotel workers should be tested for COVID -19. Restaurants have also reduced their capacity by half to maintain social distancing by a two-meter apart distance.
This now indicates the new normal for the economy to stay afloat. Despite these, some restaurants go to the extent of offering food delivery services, instead of sitting in services. Does this new normal for restaurants mean a slight improvement to the economy?
Offices and Commerce
Working from the office is a long-gone idea for most. People now seem to be very comfortable working with the pyjamas instead of wearing a formal outfit. Living room or empty rooms in the house have been converted to home offices. Most of the meetings are done virtually with different platforms, zoom being the favourite.
Firms and companies are saying no to shut down. They are all striving to restore the economy in all possible ways they can. Less space and more telecommunicating is the new normalcy for firms to stay afloat in these tough economic times.