Future of Shopping Malls

Lockdown is over, should I close my business on Main Street or strip mall, and sell online?

It’s a question business ventures ask themselves because customers they lost when the pandemic began, have not come back in great numbers. Most states and provinces have allowed businesses to open their doors once again, but there are restrictions.

Capacity. The 6 feet apart is still in effect, which means there are less customers inside stores and eating places. This means less profit because some customers don’t want to wait.

The physical corner store is also affected by days of the week and the weather. Monday is generally a slow day for retail. Snowstorms ground people, especially bus passengers. They have no inclination to expose themselves to the elements, just to go shopping.

The online store doesn’t have such restrictions. It is open 24/7 irrespective of freak snowstorms and seasonal icy pavements. Business ventures that moved online at the start of the pandemic will probably remain in cyberspace.

Those contemplating leaving the corner store and going virtual must remember that the government wants a piece of the action (taxes).

The business is established already, so you don’t have to apply to register a business and get a business number. But still, do research to find out what other laws affect online business.

Your present corner store is all in one: storage, display, office, shipping and handling.

1. If you close it, where will you keep your goods, in your garage or rented warehouse?

2. Will you lay off workers and remain with one or two? What kind of hours will they work?

3. There are no store windows online so, will you pump up your website, re-design it and make it more grabbing?

4. If you are selling delicate goods, how will you wrap them so that they don’t arrive damaged in another country?

5. Big stores have a return policy. Will you have one?

6. How much will you spend on couriers or will you use the post office? If you do, take postal strikes into consideration.

There are many things to consider and they all depend on what goods you’re selling, your business.

By: Nonqaba waka Msimang.