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Dear SME business owner,
If you’re reading this, I’m sure you’re fully aware of the global pandemic due to the outbreak of coronavirus (COVID-19).
First identified in Wuhan, China in December 2019, the virus has now spread to more than 100 countries, with 219,000+ people reported to have been infected, and is still on the rise.
Governments around the world have taken action and sanctioned lockdowns, shutting down most businesses, only excluding essential services (electricity, water, energy, transport, telecommunications, broadcasting, finance, security and health).
So the REAL question is - how will this affect your business?
But before we get into that, we need to better understand the current situation and how COVID-19 is affecting our economics, because it’s estimated that coronavirus could potentially cost the global economy $2.7 trillion.
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What's Happening?
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The outbreak is still in its early stages, but when we took a look into our data here at StoreHub, we found that the impact is pretty clear.
Especially if you’re a local F&B or retail business that serves your customers daily - There’s already a 10 - 20% drop in sales across the board for all our 14,000+ merchants in the South East Asia (SEA) region - particularly in Malaysia, Thailand and Philippines.
If you’re in Malaysia (MY), you’ll know that with the Movement Control Order in full effect, you will not be able to serve any customers in your store(s) for at least 14 days, 18 - 31 March 2020.
Because businesses like yours are the backbone of our economy, this not only affects you but it has a massive impact on our ecosystem.
How massive, you ask?
The total revenue that will be affected nationwide is about RM6 billion.
Revenue over 2 weeks
X
Estimated Retail/F&B Biz
=
Total Revenue Affected
RM 20,000
X
300,000
=
RM 6 Billion
This is money that would otherwise be used to pay wages, rent, bills etc.
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How Will This Affect My Business?
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Your business will be impacted due to the government imposed, partial lockdown that forces the majority of businesses to close, to reduce the spread of COVID-19.
But whether that impact is positive or negative, will depend on the industry you operate in.
If you’re an Essential service business owner:
Healthcare industries that sell products e.g. pharmacies, will likely see an increase in sales due to the spike in demand for products like hand sanitisers, masks, hygiene products, thermometers, etc.
If you’re a Retail or F&B business owner:
The retail sector has seen a huge drop in sales from “50 to 70% or more” since the outbreak of COVID-19, according to Datuk Liew Bin (VP of Malaysia Chain Retail Association - MCRA).
F&B businesses like restaurants, cafes, food trucks and quickserve have also seen similar drops because of the lack of foot traffic.
And if your store is situated in a shopping mall, unfortunately you will be impacted the worst since we expect almost NO traffic in shopping malls.
This is mainly due to the fact that businesses except essential services are being forced to close down and people are staying in to avoid the spread of the disease.
BUT - All is not lost.
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What Can I Do To Save My Business?
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If you’re lost with all that’s happening right now, and you’re unsure how to move forward, do not worry because we are a bringer of good news.
Deliveries are still allowed.
This means that while your customers won’t be able to walk-in to your store… they will still be able to buy products from your website OR have food delivered to them.
Here are two simple reasons why you should run your business online.
1. Keep your business running
While most businesses are closed during this period, you will still be able to make sales online and your customers can still get their purchases via delivery.
2. If you don’t do it, your competitors will
The only way to survive this Movement Control Order is to go online. So if you're not doing it, your competitors will. And this is how you lose out.
I think we know that it’s time to think outside the box. We need to think about how we can serve your customers during this lockdown.
Figure out how to get in touch with them by utilising a platform like StoreHub, to enable them to still order from you and get food/product delivered or picked up.
For retail business owners:
Our StoreHub BackOffice has a built in ecommerce feature that can be set up in a few easy steps, so that you can start selling online right away.
For F&B business owners:
We’re enabling you guys to run a food delivery service on your own with our new feature, Beep Delivery.
This is only possible because we’re partnering with some of Malaysia’s top logistics providers like Lalamove, GoGet and ZeptoExpress.
Beep Delivery is a feature within StoreHub’s ecosystem that will allow Malaysians to order food from you guys during this coronavirus (COVID-19) 14-day partial lockdown.
This helps keep your F&B business running, while giving your customers access to their favourite foods without having to leave their homes.
Our entire team is working around-the-clock to make this happen for you right away.
I hope this has given you some clarity on what’s happening in the market right now due to COVID-19, as well as offer you some solutions to issues you’re facing with your business during this period.
In the meantime, stay safe guys!
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Fill in this form now and start delivering food to your hungry customers.
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