Retail after the pandemic: the role of own credit in the resumption of sales

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Many retailers are worried about the next episode of the crisis caused in Brazilian retail due to the Covid-19 pandemic.

The uncertainty mainly affects those who work in municipalities that have had quarantine decreed and are being forced to keep their stores closed.

But the situation is also worrying for those who are still providing services, as it is already possible to notice a sharp drop in movement and a significant increase in consumer default.

Aware that social isolation is likely to continue for a few more weeks, business owners are seeking to minimize losses in commerce and are already thinking about how they will attract the public back to their stores when the threat of coronavirus has passed.

Many companies will have to work hard to recover customer flow . To do this, they will use geolocation technologies, social networks, sound cars or radio and television advertising.

But there is a group of retailers who, despite having an extra concern about defaulting on payments, also have a great advantage over other businesses:

Those who work with their own credit .

When the pandemic is over, all they have to do is ios database open their doors!

Do you want to understand why?

First we need to facilitate payment
Currently, social isolation is necessary to reduce the impact of the Covid-19 pandemic, and retailers who work with their own credit are going through a real “tight spot”.

Even though the stores are closed, the installments are still due.

And then even lower-risk customers , who have always paid on time, find themselves unable to go to the point of sale to pay the installment on the installment plan.

Of course, there are alternatives to remedy this situation and make payment easier for those who are unable to leave their homes during quarantine.

In the following video I mention some of them.

Click play and check it out:

YouTube video
How credit can help retail after the pandemic
If you also sell on credit, you are most likely going through the same situation described in the video.

And that is why it needs to remain firm until the Covid-19 pandemic is controlled.

Think about it.

Today you are uncomfortable with a large amount of receivables on the street, payments for which are becoming late.

But within a few weeks, when your store reopens, you will have already secured a flow of consumers to resume business.

It is the credit customers who will need to pay their installments on time.

Once they start visiting the store again, you should take the opportunity to renegotiate these payments and make more flexible arrangements so that they can get out of debt and start shopping again.

Of course, your delinquency will still be above average for a short period of time.

But if you are part of this select group of stores, which never gave up the booklet as a sales and loyalty tool , you will have a strategic advantage when it comes to recovering your business in this new retail after the pandemic.

It is clear that retailers who can count on their own credit in times of crisis have everything they need to get ahead of the competition when the recovery comes.

With the help of technology, this traditional form of payment will act to accelerate business recovery and overcome the difficulties generated by the pandemic.