3 Tips for Business Owners During COVID-19

The Coronavirus pandemic surfaced has changed every aspect of our lives. Education went online. Companies started working from home. Social gatherings are no longer a thing. There are no queues outside shopping malls. Festivals and concerts have been indefinitely postponed. In short, life has taken a 180-degree turn.

To survive, we need to change and, more importantly, get accustomed to the ‘new normal.’

In this post, we will list some tips for businesses to adapt to the new normal:

Physical stores are no longer as safe as they were a few months back. Consumers can no longer form queues at the checkout counters in crowded stores to get groceries. Instead, grocery shopping has largely gone online.

Businesses need to be tech-savvy to survive the pandemic. According to The Fortune, the retailers that have adopted smart shopping technology will be on the top of their competition after Coronavirus. In March, Walmart’s sales went up by 190% after consumers flocked to the online grocery app. Similarly, Nike China introduced a fitness app so that homebound consumers can carry on with their quarantine workouts.

According to the Wallstreet Journal, Amazon’s quarterly sales also surged right after American consumers switched to online purchases. The revenue rose by 26% compared to the 2019 figures. The company churned out sales worth $75.5 billion in just three months, which was a record-high.

Curbside Pickup

With curbside checkouts, shoppers can make purchases online and then drive to the curb to pick up the product. However, they don’t necessarily have to leave their car to collect the product. Such products are usually delivered through drive-through windows and, therefore, limit human contact. The concept is more common among food businesses.

For a consumer, curbside pickup saves time and shipping costs.

Contactless payments

Since the novel Coronavirus primarily spreads via human touch, the trend of contactless payments is expected to continue even after the pandemic comes to an end. According to Fox News, cash is no longer the king of transactions.

When it comes to contactless payments, MasterCard has outdone most of its counterparts ever since the pandemic surfaced. Just in the first quarter of 2020, the tap-to-pay and mobile pay services witnessed a 40% jump. To make things easier, card companies around the world are cutting down on the number of contactless transactions a user can make. Companies like UnionPay are also teaming up with banks around the world to issue more contactless cards.

All you need is an unattended payment system that comes with a reader, and LCD, and the antenna. The device uses NFC technology and is compliant with EVA mounting requirements.

UIC is helping businesses switch to secure payment methods like the contactless EMV payments. For more information, get in touch with our team and find out more about your options.

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