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The New Digital Economy

ARTICLE CATEGORY : Digital Marketing

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The New Digital Economy

What Small Retailers Need to Do to Survive

The impact of the crisis generated by the pandemic goes far beyond health and wellness. With an education lapse at the forefront with 1.4 billion students out of school — representing more than 3 out of 4 children and young people worldwide — COVID-19 is also putting the global economy at risk.

The economic scenario is one of the most affected by distancing recommendations. With the suspension of partial commercial activities and agglomerations, self-employed professionals and independent businesses were severely affected. Agility, creativity, and automation will be the watchwords for this new era of business, and those who have these resources will soon come out on top.

More than online, it is necessary to be present with the local community.

Companies must certainly accelerate the digital transformation to kickstart the online operation and minimize losses. It is the demand today and will likely continue to be the new normal for consumers who have had to change their consumption habits.

Results show that this shift was quickly realized by the traditional Canadian retailer who adapted e-commerce strategies to remain open for business. In the virtual environment, small retailers have the same opportunity to win customers than big names in the market. Old rules of communication and interruption marketing do not work as well as before. It would be more useful to design a robust online presence, and this field is free for everyone.

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