If it wasn’t apparent before, it should be by now — eCommerce is the way of the future. For years online ordering has become increasingly popular, while in-person shopping has dipped in popularity. In fact, nearly 70% of Americans have purchased an item online in the last year. This number will only continue to grow as the older, less tech-savvy generations age out, and the younger, more tech-savvy generations gain buying power.
This rise in online shopping has only been accentuated by the COVID-19 epidemic. eCommerce sales are soaring right now. Online sales have doubled and even tripled for retailers in the space. This trend will likely continue, even after social distancing is lifted. People who once wouldn’t shop online are now using this option, and this behavior is here to stay. Even after COVID is over, shoppers will still be mindful of germs and convenience, and will continue to turn to online shopping over in-person shopping.
If your company has not already invested in improving the digital shopping experience for customers, now is the time. Using an eCommerce platform, such as PinnacleCart will help you optimize your company’s shopping experience.
eCommerce platforms are intended to help business owners set-up their online storefronts while optimizing the user experience. These software offerings provide businesses with the resources necessary to grow their online sales. PinnacleCart can help you build a stunning digital storefront that is completely customizable and is designed to grow as your business grows.
With eCommerce becoming increasingly popular, investing in an eCommerce platform will only help your business grow. Leaning on your online sales revenue could be the key to making it through this crisis and beyond. People are shopping online more than ever due to COVID-19, and this likely will continue long after the virus has passed.
If you own a business your cashflow has most likely taken a hit during the COVID-19 epidemic. Many businesses were not ready to face such a turbulent time and are suffering because of it. In the early stages of the virus, the government established new disaster relief loans for business owners. Sadly, when these loans launched, the system was overwhelmed, and many small businesses were unable to receive this type of funding.
While these disaster loans are a great idea and should still be applied for if your business needs one, they should not be the only crutch that your business relies upon in a time of need. Having a plan in place and hanging onto some extra cash is a great way to mitigate any chance of this happening again.
Consider some different ways to save up cash;that way next time a crisis hits your business is ready. Some of our favorite digital ways you can build-up cash are:
- Utilize an online business loan – Online loan providers have become increasingly popular within the business lending space. These loans are a great way to have some extra cash in the bank in case a crisis hits.
- Download a budget tracker app – These applications link the user’s bank account information and then analyzes all of your spending habits to help establish budgeting goals.
- Sign up for a digital bank account – These banks, such as Chime, are completely digital and have no storefront. Chime helps business owners save up cash by rounding up purchases and re-distributing the cash back into their savings account.
Saving up some cash will help your company bounce back from the crisis, and will help you feel better prepared for whatever challenging circumstances comes our way next.
Many workforces have been working from home, and it has gone extremely well. There has been evidence that employees who work from home are actually more productive than their in-office counterparts. If anything, this pandemic has impacted the way the office will look in the future. Many businesses have stated that they will explore a more remote workforce in the coming months.
Even so, operating in a more disjointed work environment will come with some growing pains. If your business is looking to become more remote, do not dive in headfirst without a plan. Many of your business processes and practices will need to change to account for these new remote workers.
One area of your business that will likely undergo some change will be the way your human resources department operates. Having a remote workforce canmake human resources a bit more difficult, but with some tech help, the transition will be a breeze.
The benefits to using a human resources platform, such as Namely, are similar to the benefits of using an eCommerce platform. These software offerings are intended to simplify business processes so that any business owner can satisfy their company’s HR needs. Namely will place all of your HR tasks into one convenient dashboard. So as you consider moving to a more remote workforce, these HR systems will help ease onboarding, hiring, and all of your other HR tasks.